The Conceptualisation of Entrepreneurship within the Context of National and Global Development
Tafamel Andrew Ehiabhi
Department of Business Administration, University of BeninOkuwhere Peter Mirhiga
Department of Entrepreneurship, University of BeninKeywords: Conceptualisation, Demand-side theory, Entrepreneurship activities, Global development, National development
Abstract
Entrepreneurship education can be a robust strategic tool for national and global development. This study analyzed the role of entrepreneurship within the context of national and global development. A sample size of 250 respondents from small and medium scale enterprises was drawn from the six selected metropolises in Lagos State. The data obtained were analyzed employing a simple OLS regression method. The result showed that there was a significant positive relationship between entrepreneurial activities and national and global development at a 1°o level of significance. The study recommended that the government should recognize the importance of entrepreneurship to sustainable economic development by enacting good policies, an environment for private sector-led investments, adequate infrastructural facilities, and all necessary supports for prosperous economic development. Besides, the government should provide adequate funding to encourage entrepreneurship in Nigeria, and policy making should target the most binding constraints for productive entrepreneurship to be effective. It was also essential to formulate business and institutional reforms and as well as improve labour markets. Government enforcement of laws and regulations that link institutional development with entrepreneurial efforts was also recommended.
