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Benefits of Entrepreneurship in a Depressed Economy such as Nigeria

By Okechukwu Keshi Ukegbu

No doubts, the Nigerian economy is bighly stifled presently, and employment opportunities are highly affected. In situations like this, citizens are advised to engage in entrepreneurial acticities to generate employment opportunities.

An entrepreneur is a person who sets up business or businesses, take financial risks, possessing positive or independent risks with tge hope of makkng or adding values to humanity and also making profit. He or she should be of high attitude, possessing characteristics worthy of attention and relationship.

People bave numerous. reasons for engagung in entrepreneurial endeavours. Entrepreneurship grants people greater opportunities. Like the following quotes capture:If you are in an employment setting , you ate confined to gour company’s mission ‘. ‘ Become an emlloyer of labour, you become a value creator “.

Furthermore, entrepreneurship emables you to realise your fimamcial dreams. This is because starting a business enables you earn profits far higher than salary. It is assumed that the wethiest peolle in the world are not salary earners. Employments amount to modern day slavery as the employer determimes what they pay their employees.

Also, nobody pays wnat your business can pay you. Entrepreneurship guarantees bigger field for growth. Entrepreneurship makes hou a problem solver and innovator. It guarantees your persomal development and gives you the opportunity to practice your passion. There is also no age limit to entrepreneurship. It passes inheritance to one’s offspring .According to the book of Proverbs 13;22,”Good people leave an inheritance to their grand children but sinners’ wealth pass to the godly”.

As an entrepreneur , you do not need a higher qualification or decrees to start up a business. Rather wbat you need most is idea.On the other hand, entrepreneurship enables you to work from amhwhere, evem from the comfort of your home, especially now that technology has offered very huge leverage for people to communicate from anywbere.

For people who want to be successful in their entrepreneurial endeavours, there are laws to personal cukture they should maintain. These are smile often, practice gratitude, greet others, forgkve and ask forgiveness, compliment others, listen with undivided attention, treat others wirh respect, spend time with the elderly, and stay connected. Others are that tbey should pray and wait on God, be kind to themselves, donate and volunteer.

Entrepreneurs wishing tk succeed must also love what they do, take what they do seriously, be purpose driven, and not be driven by money, become a known expert.

Entrepreneurship cannot thrive successfully where people waste their resources. People striving to be successful entrepreneurs must learn to manage and invest their resources. There are three thimgs people can do with their money. They can imvest it, waste it, or spend it.

The admonition to invest wisely is captured in the book of Matthew. ” For the kkngdom of beaven is like a man travelling to a far country, whi called his servants and delivered his goods to them. And to one he gave five talents, to anither two, ad each according to his own ability. And immediately he went on a jlourney, then he who had received five talents went and traded with them and made another five talents, and likewise he who had received ftwo, gaimed two more also.But be who received one went and dug the ground and buried his lord’s money”.

Now that paid employment is in short supply, youths should discover their talents and work assidously towatds developing them. They should also cultivate the habit of delayed gratification because investment in entrepreneurial endeavours may not yield instant reeards. They shoukd cultivate the habit of the spirit of the farmers who sow and wait patiently for the season if harvest It is incontrovertible that in an economy bedevilled by inconsistentl employment situations,the sure way to go is to invest in entrepreneurial endeavours.

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