• O. Medvedeva
  • A Lawal

Ключові слова:

Unemployment, entrepreneurship, community


Unemployment is undeniably the common enemy of Nigerian youths. This is because the limited job opportunities available for the country's large population affect the youth greatly, as they constitute the largest percentage of Nigerian population. With that in mind, every fresh graduate battles with the fear and thoughts of roaming the streets in search of a means of livelihood. Consequently, youth and graduate unemployment has been a serious problem in the Nigerian economy for a very long time; a problem which both the government and citizens of the country are constantly trying to eradicate. A specific way to solve this problem is to introduce a culture of entrepreneurship in the society. On that account, this write up will address how entrepreneurship can be encouraged by creating a professional union for credible Nigerian entrepreneurs, hence promoting its values in the country.
Inarguably, many people are oblivious of the fact that being an entrepreneur is not just about starting a random business venture which one thinks will fetch money. By definition, entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make profit [1]. Indeed not only does entrepreneurship solve the problem of unemployment in a society, it also stimulates economic growth and development. Despite the relatively controversial economy Nigeria currently has, many of our best-educated and most dynamic youth are not contributing to economic and social development of the country. This is not just on the grounds that they are unemployed but also because they are incognizant of the benefits of undertaking entrepreneurship. Whereas the reliance on corporate jobs would have been admissible, the reality of the Nigerian labor market is that there is a dearth of wage employment for youth and graduates.
The culture of a society or community tremendously influences how much entrepreneurship there is within it. Various levels of entrepreneurship may develop from cultural diversity, which make entrepreneurship more or less rewarding subjectively. A community that confers zenithal status to those at the prime of hierarchical organizations or those with professional expertise certainly discourages entrepreneurship. Whereas a culture or policy that confers high status to the "self-made" individual is more likely to encourage entrepreneurship [2]. Even though many may argue that the major cause of lack of entrepreneurship in Nigeria is the inability to get sufficient capital to set up a business, it is evident that the cultural upbringing and orientation in Nigeria is responsible for lack of entrepreneurship in the country. The Nigerian society does not instigate that drive in the youths, the drive which is required for self-employment or entrepreneurship as an alternative to a reliance on seeking white-collar jobs. From tender ages children in Nigeria are made to believe that to be well respected, they have to go school, get a degree and get a high paying job. This basically infiltrates the minds of people and everybody ends up thinking the same way and having the same approach to obtaining a means of livelihood.
In spite of the fact that the Nigerian society has a general knock down approach to undertaking entrepreneurship, this can be changed in order to change society’s mindset. By the popularization of entrepreneurship as a valued profession, people can begin to see that it is indeed a climb. Creating a professional union for all credible Nigerian entrepreneurs can do this popularization. The proposal for this system is to use social networks to bring entrepreneurs together under an umbrella. This way, Nigerian youths can become business oriented as they now have successful mentors to look up to.
This system can help shape the society’s orientation and hence encourage people to become young entrepreneurs rather than becoming job hunters right after school. Thereby instigating them to provide incentives to serious minded youths who wish to become entrepreneurs.
In conclusion, it is necessary for the creation of an organizational foundation in entrepreneurial practicalities. This will increase the status of entrepreneurs in the country, as they will become more respected. Moreover, by promoting economic self-reliance and the need to play a constructive role in the society, the professional union will stimulate the youth to build their human capacity. This is a key element of sustainable development for any society.






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