Entrepreneurship In Nigeria

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Challenges and Prospects for Entrepreneurship in Nigeria The entrepreneurship plays a vital role in the economic growth of a nation and Nigeria is not far from the same. There are many people who is a graduate and entrepreneurship becomes one of the solution for them to manage their living standards. In Nigeria, those people are successful entrepreneurs who are audacious male or female who have the capability to lead, manage and take everything into consideration. Those people are very hardworking, creative and because of their success they are getting high respect in the society. It has to be looked that during the colonial era of the nation, only a few people could boast of personal or family finance to commence any real business and with…show more content…
The lack of credit facilities really make the need of the entrepreneurs to get into abysmal side. Entrepreneurs in Nigeria look for some facilities through which they can think of interest free loan to start ups. With the presence of the venture capital in Nigeria some people are getting the benefits but something more is need to enhance the same with wooing and motivating policies. The lending rates are also a major concern. • Multiple taxation: An entrepreneur has to face a lot of complications in the taxation part too in Nigeria. While writing business plan, many entrepreneurs had to take a difficult route to check on the taxation part. Similarly, there are many challenges which are being faced by many young and old entrepreneurs. There are different business prospects available for the entrepreneurs and many ones are doing the same at a much better level. Some of the best options available for business in Nigeria are as follows: • Poultry and catfish harming: It is a very fast growing business opportunity for many entrepreneurs. The regional players are leading the business in a very positive way. • Import of wearable: The import business of clothes has seen a drastic increase in the past couple of years. Many traders in Nigeria are importing the clothes from other countries and selling the same locally to make good business with the

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