International Journal of Economics and Business Administration
Articles Information
International Journal of Economics and Business Administration, Vol.3, No.1, Jan. 2017, Pub. Date: Feb. 28, 2017
Entrepreneurial Ecosystem: Lessons of Experience in Nigeria
Pages: 1-10 Views: 726 Downloads: 297
Authors
[01] Samuel Taiwo Toluyemi, Department of Agricultural Development Management, Agricultural & Rural Management Training Institute (ARMTI), Ilorin, Nigeria.
[02] Moses A. Adebisi, Sociology Department, University of Ilorin, Ilorin Nigeria.
[03] Temitope Titilayo Toluyemi, Department of Operations, Pension Alliance Limited (PAL), Lagos, Nigeria.
Abstract
It is observed that there seem to be glaring disparities on the entrepreneurial activities among the ethnic nationalities in Nigeria. Hence, the study examines entrepreneurial activities among the ethnic nationalities with a view to explaining the observed differences. The study used secondary data on distribution of MSMEs in Nigeria. Primary data were collected through questionnaires and interviews on entrepreneurial activities among the different ethnic nationalities of the Nigerian entrepreneurs. Descriptive and t-statistics were used to analyse the data collected. The study revealed that there is a significant difference between the entrepreneurial activities of Igbo nation and all the other ethnic nationalities in Nigeria. However, Yoruba nation’s entrepreneurial activities are not significantly different from that of the Hausa/Fulani and other Nigerian ethnic nationalities. In the same vein there are no significant differences between the entrepreneurial activities of the Hausa/Fulani with that of the other ethnic nationalities. The disparity is tending towards domination of enterprise landscape by Igbo nation. Hence, deliberate efforts must be made for other ethnic nationalities to improve on their entrepreneurial activities to avert impending problem(s). The identified reasons for this observed difference include: The Igbo nation has; i) Good start-up practices for their potential entrepreneurs; ii) Enterprise mentoring process for the would-be entrepreneurs; iii) Good forward and backward networking procedures; and iv) They also have monogamous families which favour sustainability of enterprises. In addition the attitude of the Hausa/Fulani which is mainly that “one does not need to bother about the future” because the future will take care of itself. Similarly, women are also not encouraged to be entrepreneurs as many of the women are in purdah. Hence, they have little or no access to the general public. The study recommended that the three-tiers of government should put in place policies that will improve entrepreneurial activities among the ethnic nationalities. In addition the study recommended that research should be carried out to identify critical factors responsible for successes or failures of entrepreneurial activities in Nigeria.
Keywords
Entrepreneurial, Ecosystem, Lessons, Experience and Ethnic-Nationalities
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