THE PLACE OF ENTREPRENEURSHIP IN NIGERIA ECONOMY

The fact that entrepreneurial development is the fulcrum of the economic and industrial progress of any society is not in doubt. The paper explores the role played by entrepreneurial development in a declined economy. In doing this, the paper firstly examines the concepts of entrepreneur and entrepreneurship. It then highlights the important role played by entrepreneurs in an economy. It also out lines the features of a declined economy. The paper also post that entrepreneurial development and small business are Inseparably intertwined and that efforts or strategies aimed at developing and promoting small and medium-scale enterprises (SMEs) especially in a declined economy as Nigeria is currently experiencing are, in effect aimed at fostering entrepreneurial development. In view of this paper, It also discusses related issues such as common pitfall in starting a small business and factors militating against SMEs in laying vibrant foundation for national economic development. The paper therefore concludes by pointing that medium, yardsticks and the panacea towards fostering entrepreneurial development in a declined economy.