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DESCRIBE THE DETAIL OF HISTORICAL BACKGROUND OF

ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA
Introduction

Entrepreneurship may be defined in several ways, but generally it refers to the creation of
constructive value through new ventures. The emphasis of the general definition is on
creative thinking and problem solving which translates to measurable rewards. This notion
incorporates flair for rapid growth, risk taking, and innovation. One must not be a
businessman to be entrepreneurial. It cuts across all professions and endeavours of
mankind (Okojie,2006). Entrepreneurship specifically refers to the ability to find and
evaluate business opportunities, gather the necessary resources, initiate appropriate
actions to ensure success and implement actions to take advantage of the opportunities for
rewarding outcomes (Azubuike, 2006). It involves the combination of materials and
resources within our reach in order to create value which enables us to take advantage of a
business opportunity. The combination may result to the introduction of a new good, the
use of a new method of production, opening of a new market, identifying a new source of
supply, or creating a new market structure within an industry. The above processes involve
a transition which is not usually smooth. Sometimes it requires business firms to adapt or
die; a process described by Schumpeter in Drayton (2002) as ‘creative destruction’. A
person with the ability to recognize these special circumstances of time, place and
opportunity may be referred to as an entrepreneur, or business leader or innovator.

From the view of Richard Cantillon, the concept of entrepreneur is associated with three
elements; Risk bearing, Organizing and Innovating. Hence, as defined by Ahmad B.I (2019),
An entrepreneur can be defined as a person who tries to create something new [a service or a
product], organizes production and undertakes risks and handles economic uncertainty
involved in enterprise. Hence, an entrepreneur can be defined as a person who tries to create
something new, organizes production and undertake risks, and handles economic uncertainty
involved in the enterprise.

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MEANING OF ENTREPRENEURSHIP

Entrepreneurship is derived from the French word entreprendre which means to

understand. Hence, entrepreneurship is the process of understanding activities concerned
with identifying and exploiting business opportunities while assuming its attendant risks.
Entrepreneurship involves taking chances, because new businesses do not emerge by
accidents Engelhoff, (2005), Ahmad B.A (2019).

Entrepreneurship simply means when an individual who is business minded, seeks to

provide or design or bring into existence an uncommon or a common but very unique
product into the market economy in other to sell and make a profit off it. Entrepreneurship
is a willing act that involves the capabilities to manage and construct a business plan that
will not only yield a profit but be beneficial to a targeted capacity of people who are to use
the product.

Schumpeter (1959) considers the entrepreneur as an innovator. According to him,

entrepreneurship is the carrying out of new factor inputs combination which can be
referred simply to as an enterprise; the individual whose function it is to carry them out,
can be referred simply to as entrepreneurs. Baumol (1993) sees the Schumpeter type as an
innovating entrepreneur and the Say type as the business-organising Entrepreneur.
Therefore an Entrepreneur is one who undertakes to organise, manage and assume the risk
of a business. Entrepreneurship is a human activity which plays a major role in any
economic development. It points to the spirit of enterprise. In line with Marthy (1989),
such a spirit can transform man from a nomad to a cattle rearer, to a settled agriculturist, to
a trader, to an industrialist and finally to multinational conglomerate.

The Global Entrepreneurship Monitor [GEM] divided the entrepreneurial process into four
phases: the conception or ideal stage, the start-up phase, the persistence phase, and the
established phase(the business is over three and half years old and still doing well)

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Identifying Entrepreneurship in Nigeria

In Nigeria, domestic entrepreneurship is often discussed within the context of Micro, Small
and Medium Scale Enterprises {Ewurum and Ekpunobi, (2008); Uwatt, (2010)} cited in
Nwokoye et al (2013). Shepherd and Douglas (1997) observe that the essence of
entrepreneurship is the ability to see and chart a course for a new business venture despite
the uncertainty and ambiguity which the business venture faces. This results in innovative
and creative strategies as well as courageous leadership. The importance of
entrepreneurship to economic development has long been recognised by economists and
government policy makers.

According to the Corporate Affairs Commission[CAC], there are articles and legal
frameworks for those interested in registering their business under part B and C of the
Companies and Allied Matters Act called the business Name Registration as either
incorporated companies, or trustees or an enterprise {given the large informal Small and
Medium Scale Enterprises}. Once a business is registered, it is expected to pay tax and can
request for loan or account with any Bank in Nigeria.

The Evolution of Entrepreneurship in Nigeria

In the beginning, when people produced more products than they needed, they had to
exchange these surpluses. For instance, if a blacksmith produced more hoes than he
needed, he exchanges the surplus he had with what he had not but needed; maybe he
needed some cassava or goat, etc, he would look for someone who needed his products to
exchange with. By this way, producers came to realize that they can concentrate in their
areas of production to produce more and then exchange with what they needed. This is
called “Trade by Barter”. So through this exchange of products, entrepreneurship started.

At this time, the place called Nigeria had entrepreneurs who had the entrepreneurial mind-
set prevalent at the time. The peoples of Hausa, Ibo, Yoruba and Benin all had their own
entrepreneurs (13th-19th centuries) who were exposed to entrepreneurship opportunities
outside their native areas. The Hausas had astute entrepreneurs who managed workers
with skills in tanning, dyeing, weaving, and metalworking which were highly developed. In

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fact, the Hausas have long been famous for wide-ranging itinerant trading, and wealthy
merchants shared the highest social positions with the politically powerful and the highly
educated. In Hausa land, entrepreneurial success in Islam is not merely measured by the
end result but also by the way and means of achieving them.

The Ibos also specialized in buying and selling of goods and have perfected their
entrepreneurial expertise in inventory control, management and distribution – which up
till today, has remained their prevalent way of entrepreneurship. The Yoruba are
predominantly town dwellers who practised small-scale, domestic agriculture and are well
known as traders and crafts people. Since the 13th century, Yoruba artists have been
producing masterpieces of woodcarving and bronze casting. Like the Ibo's, the finished
products were traded on as business ventures and enterprises. Let us look at the situation
during the colonial era, pre-independence and post-independence.

Pre-Colonial and Pre -Independence Periods:

The Portuguese were the first Europeans to traverse the coast of western Africa and they
were attracted to Benin City in 1486. The Oba of Benin Kingdom established trading
contacts with the Portuguese and initially sold them some war captives, which the
Portuguese sold as slaves (another sad reminder) to the Akan of Asante (modern Ghana) in
exchange for gold. Later, Benin’s trade with Europeans in the 16th and 17th centuries was
in palm oil, ivory, pepper, and textiles. Dutch traders to Benin City in the 17th century
remarked about the astute entrepreneurs they met in Benin kingdom.[Error: Reference
source not found,Error: Reference source not found]. Stories were told of King Jaja of
Opobo organized his own trading network and even began running his own shipments of
palm oil to Britain, he was lured onto a British warship and shipped into exile on Saint
Vincent on charges of "treaty breaking" and "obstructing commerce".

The Royal Niger Company was a mercantile company chartered by the British government
in the nineteenth century. It was formed in 1879 as the United African Company and
renamed to National African Company in 1881 and to Royal Niger Company in 1886. This
venture was responsible for British colonization of the Niger area. In 1929 the company

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became part of the United Africa Company, [9] which came under the control of Unilever in
the 1930s and continued to exist as a subsidiary of Unilever until 1987, when it was
absorbed into the parent company. The company existed for a comparatively short time
(1879–1900) but was instrumental in the formation of Colonial Nigeria , as it enabled the
British Empire to establish control over the lower Niger against the German competition
led by Bismarck during the 1890s.

Britain colonized Nigeria, and we became a federation under Sir Lord Lugard in 1914,
confederation of the North, East and the West. Before the discovery of oil and gas,
predominant is Agriculture in the south, trans-Sahara trading and agriculture in the North.
We have agricultural product price ceiling and promotion board: for cocoa, rubber, maize,
cassava, fish and palm oil in the South; tomatoes, ground nut, leather (hide and skin), cow,
sheep, goat and kola-nut in the North, - these are the main component of trading and
enterprise with comparative production advantages. These constitute our foreign trade or
export commodities.Tayo, Ayomide O. (26 July 2019)

Privilege Nigerians send their children to high schools in UK, and those returning home
introduce to the nation foreign investors and imported manufactured products, vehicles
and electronics. Hence the development of supermarkets, grocery shops, and small shelves
home trades. In fact, in the time of the colonial rulers, a handful of Nigerians had the
capacity or ability to kick-start a business in buying and selling and in trade generally.
Many block industries were started, and also Bread bakery especially in the developing
urban centres, mostly State Capitals and big towns. In this period, it was paramount to
make use of banking sectors either to borrow money or save money from your business,
and this opportunity was only given to some people who settled in urban areas in Nigeria
at that time.

In other words, there was a great limitation to the number of people that could start a
business and see it through. The banks were mostly used to satisfy the interests of the
colonial masters, however, a Nigerian who did not have a large sum of money, or did not
know someone on government was not given loans to start any kind of business. Education
was almost free and persuasive measures were put in place to discourage "gona" or petty

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artisan works and farming rather than going to school in the North, and "ïse owo" in the
South Western part of the country. These are what I personally observed as a School
Administrator and member of SBMS in the Kaduna State.

Under different Colonial Lords since 1900 to 1960 and constitutional reforms for a
federated Nigerian, typical Nigerian entrepreneur is a self-made man who might be said to
have strong will to succeed. A typical example is Alhaji Dantata in the North. Alhassan
Dantata (1877 – 17 August 1955) was a Northern Nigerian trader in kola nuts and ground
nuts, and he was a distributor of European goods. He supplied large British trading
companies with raw materials and also had business interests in the Gold Coast. At the time
of his death he was the wealthiest man in West Africa.

A Yoruba farmer in the south west may engage the services of others like friends, mates,
in-laws etc, to help him in his work or farm harvesting and sales. Through this way,
Nigerians in the olden days were engaged in entrepreneurship. The Ibo's are known for
their Master-Mentorship styled Business, an average of 5 years before compensation
programme. Most take youths and siblings from the East, accommodate and train them on
trading and sales skills of essential commodities to drugs/dispensary products in every
nook and corner of especially the North. The Yoruba's were left with petty trade and
transportation of food item from the North to the South West, and also services in the
educational sector and government institutions in the North[about 20% while the
remaining live in slum like settlement call "Sabo Gari" seasonal contract and technical
works]. This trend is gradually changing. Indeed, Nigeria was traditionally(and still) an
agricultural country, providing the bulk of its own food needs and exporting a variety of
agricultural goods, notably palm oil, cocoa, rubber, and groundnuts (peanuts).

Post-Independence Entrepreneurship

Nigerians have suffered for so long that under the colonial masters. We became
independent on October 1st 1960 and a republic in 1963. Nation building began,
conferences for Nigerian Constitution, Education, Market and political structures were
subsequently initiated and blueprint developed and signed into the law. Also the

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introduction of new currency (of equal value to both Pound Sterling and the American
Dollars change both the level and face of inter-state trade and business enterprises. It must
be noted that the colonial rule ended abruptly, Nigerians were granted the opportunity to
reshape the country to soothe their personal interests, especially when it came to the
business sector which birth the entrepreneurship business.

The Federal Government in the 1960s, made declarations that Indigenization and privately
owned enterprise should be the order of the day, to liberate people from poverty and help
to build a stable and balanced economy. The modern type of entrepreneurship, though
started while the colonial masters were still ruling, but the concept and indigenous owned
business was given birth to from that moment of independence.

The Federal Government of Nigeria has since put in place different kind of institutional
framework to reduce youth unemployment in the country. These among others include
establishment of industrial development centres (IDCs),SMEDAN's Entrepreneurship
training Programmes[ETPs], Rehabilitation and skill acquisition centres, Millennium
Development Goals that focus on Women in Business, the small scale industries credit
scheme, credit guidelines to financial institution, working for yourself/entrepreneur
development programme (WFY/EDP), National economic reconstruction, Promotion of
Research and Enterprise development under the Ministry of Internal affairs, Export
Promotion Council, and the various EDP-NDE Programmes. Tende, B.A. (2014), [Error:
Reference source not found].

Draw back moments are the time of the civil war, oil boom and purging Nigeria of
corruption by the military. Policies and economic innovative of the Military regimes (1977
till 1999) have contributed immensely to the structure, development and growth of the
private sector, infrastructure (example is the PTF fund for Education and Economic
infrastructure) and environment that had grew enterprise and entrepreneurs. Businesses,
groups, cooperatives and enterprises are expected to be registered with the Cooperate
Affairs Commission. Industrial Training Fund and Centres were strategically situated. Small
and medium Scale Enterprises Development agency of Nigeria was established to fast track
business registration and take advantage of government intervention programmes.

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Evidences abound of the positive results and better environment for doing business in
Nigeria according to GEM's Doing Business report for 2018. Foreign investors were wooed;
these include the Chinese (agriculture, construction and Manufacturing industries), South
Africa, Shop-rite, etc. Today, the Corporate Affairs Commission (CAC) has revealed that
Nigeria has a total of 3.1 million registered companies.

Having known the significant role of entrepreneurship in fetching economic and social
development (which is supposed to be the concerns of the various governments globally),
the Nigerian government, in its effort to encourage entrepreneurial initiatives, has
developed many programmes through funding from its Central bank. These efforts have led
to increases in the numbers of private domestic firms, and complementary aids and
sponsorship of Business by foreign countries like the USA, UK, Germany, South Africa and
China. However, majority of these business ventures are very small in scale when
measured in terms of capital, employment and revenues according to Attahir and Minet,
(2000). Interesting is the growing formal women enterprise and big time middle women
entrepreneurs against the old subsistent petty retailers, market hair weaving and food-
stock/items selling Women., including the Northern sit-at-home snack and food sellers
using their young daughters seeking marriage opportunities rather than secondary
education.

In the World Bank's 2020 edition of Doing Business, Nigeria ranked 131 st worldwide for
the ease of doing business. With the highest GDP in Africa, relatively low public and
external debt, Nigeria has been attracting strong flow of American and France
companies(according to globatrade.net, Santander Trade Portal), including giants like Uber,
Facebook and emergent e-payment method. Every foreign company must be registered
with the Nigerian Investment promotion Council [NIPC], and a business license and
expatriate quota obtain from the Ministry of Interior. Statement prepared and submitted
yearly to the Corporate Affairs Commission [CAC]. Studies by the IFC show that
approximately 96% of Nigerian businesses are SMEs compared to 53% in the US and 65%
in Europe.

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Selected Entrepreneurship Development Programmes

In Nigeria Nigerian governments, particularly since the structural adjustment programme

of mid 1980s, have put in place policies and programmes aimed at entrepreneurship
development, as a means of employment generation, poverty alleviation and rapid
economic development. The major programmes are examined below:

i. Small and Medium Industries Equity Investment Scheme (SMIEIS): In reaction

to the Federal Government concern for the promotion of small and medium
enterprises, the Bankers Committee, in December, 1999, approved the setting up of
the scheme under which all banks in Nigeria are required to set aside 10% of their
profit after tax for investment in small and medium enterprises (Central Bank of
Nigeria, 2003). The scheme has not attracted the expected patronage by the target
group, as evidenced in the relatively low drawdown and large pool of investible
funds (Central Bank of Nigeria, 2003). A major problem is lack of national spread in
utilization. In 2009, only N28 billion (or 67%) of the N42 billion set aside under the
scheme was invested, out of which, Lagos State took 41.25%, while 24 states of the
federation each had less than 1%, with 12 states recording nil investment (Central
Bank of Nigeria, 2009).
ii. Bank of Industry (BOI): Established by the Federal Government of Nigeria in 2000
by a merger of Nigerian Industrial Development Bank (NIDB), the Nigerian Bank for
Commerce and Industry (NBCI) and National Economic Reconstruction Fund
(NERFUND), BOI combines the functions originally performed by the three merged
institutions (Central Bank of Nigeria, 2001). Although NERFUND was specifically
established to provide medium and long term credit to small and medium scale
enterprises, the Bank of Industry, being urban based, appears to focus on big
industrial establishments to the detriment of small enterprises.
iii. Nigerian Agricultural Cooperative Rural Development Bank (NACRDB): Three
Federal Government development finance institutions namely, The Nigerian
Agricultural Cooperative Bank (NACB), Peoples Bank and Family Economic

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 Advancement programme (FEAP) were merged in 2000 to form NACRDB, which
took off in 2001 with authorised capital of N1 billion (Central Bank of Nigeria,
2001). The three merged institutions were rural based, with similar functions of
providing easy-to-access credit facilities and agricultural inputs to rural farmers,
cooperative societies and small businesses. The problem is that the bank has
limited reach and over 80% of the target population have no access to the services
of the institution.
iv. Microfinance Bank: The Central Bank of Nigeria launched the Microfinance Policy,
Regulatory and Supervisory Framework for Nigeria in 2005 and revised same in
2011. The Framework, which provided for the transformation of former community
banks to unit microfinance banks on meeting specified requirements, aimed at
solving the problem of urban bias and provision of affordable financial services to
small scale businesses and active poor, to create employment opportunities,
increase their productivity and uplift their standard of living (Central Bank of
Nigeria, 2011). However, the problem of urban bias has not been effectively
addressed and a large segment of target small businesses and active poor in the
rural areas have no access to microfinance services.
v. The National Directorate of Employment (NDE): Legally empowered by NDE Act,
CAP 250 of the Law of the Federal Republic of Nigeria (formally Decree No 34 of
1989, the Directorate has responsibility to design, and implement programmes to
combat mass unemployment in Nigeria. Its programmes include vocational skills
acquisition training, employment counselling and job linkages, entrepreneurial
training and enterprise creation, amongst others. The major weakness is the
inability of the Directorate to provide post training resources for job creation,
resulting from lack of commitment by various levels of government.
vi. Small and Medium Enterprises Development Agency of Nigeria (SMEDAN):
Established by Small and Medium Enterprises Development Agency Act of 2003, the
Agency has the mandate to stimulate, monitor, and coordinate the development of
micro, small and medium enterprises (MSMEs) in Nigeria, by initiating and
articulating policies, programmes, instruments and support services for the

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 development of MSMEs subsector. So far, SMEDAN has not made any significant
impact on the target population, as a result of lack of awareness.
vii. Establishment of Entrepreneurship Development Centres (EDCs): In a bid to
provide institutional support for the development of entrepreneurship, the National
Entrepreneurship Development Centre was established. Additionally,
entrepreneurship development centres have been established in Nigeria‟s tertiary
institutions and entrepreneurship has become a compulsory course of study in
Nigerian universities. However, the effectiveness of such academic programmes is
constrained by disconnection between the centres and the industrial sector that
should provide practical training and experience for the students.
viii. Youth Enterprise with Innovation in Nigeria (YouWIN): This is one of the latest
initiatives of the Federal Government of Nigeria, aimed at developing
entrepreneurship in the country. It is defined as an innovative business plan
competition aimed at job creation by encouraging and supporting aspiring
entrepreneurial youths in Nigeria to develop and execute business ideas (YouWIN,
2013). Youths between ages 18 to 45 years compete for award of N1 million to N10
million to execute their business ideas. The first competition was held in 2011, with
1200 successful businesses. The second involved only women; while the third will
feature both men and women entrepreneurs in Nigeria within the age bracket
(YouWIN, 2013). This is the first time effort is made to identify entrepreneurial
firms, but the sustainability is in doubt because of the nature of the award and the
political undertone.

Types of Enterprise or Entrepreneur in Nigeria Today

There are three groups of Enterprise and entrepreneur, today, in Nigeria. The Public
Enterprise, own by the government, the Private Enterprise by the indigenous private
sector, and the foreign own Enterprise.

Public entrepreneurship: The Entrepreneurship that is undertaken by the government

through its various development agencies is Public Entrepreneurship, this include
Education, Hospitals, Water Cooperation, Petroleum Refining and Marketing, e.t.c. All

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countries, developed or underdeveloped, take a public initiative in venture ideas to fulfil
the initial deficiency of private entrepreneurs. Public Enterprises are mainly to provide
infrastructural wealth and needs, education, transportation and Support both health and
the Agricultural sector, making it affordable to the common man.

Private Enterprise and Entrepreneur are operated and own by the private sector;
individual, group, religious body, or a community, etc. They are as follow:

 Individual/Cultural Entrepreneurship: The entrepreneurship that is undertaken

by an individual or a family with the personal initiative to sustain family business or
vocational ventures such as building and construction, traditional medicine and care
givers, artisan-ship in arts, textiles, fabrication and blacksmithing, etc.
 Social Entrepreneur: It is a new type of entrepreneurship where people get
involved in social projects, event planning, entertainment (i.e., stand-up comedians,
YouTube clip production, Nollywood artistes, and traditional and modern
musicians). An important spectrum of Social entrepreneurs are those in social or
public service providers, consultants to the government, and in particular providers
of private sector alternatives to government provided Public
Enterprise/Infrastructure such as in Education, Power Generation, Transportation,
etc. Though expensive, quality and reliability are their Hallmark.
 Technopreneur: This term is a combination of technology and entrepreneurship.
Technopreneurs make their profits by coming up with technological innovations or
as agents or franchise of ICT and Communication Companies like Tecno Mobiles,
Sales and Technical Agents of Mobile Communication like Airtel , 9mobile and MTN,
and technical services and Enterprise involving Digital Terrestrial and Satellite
Television which are exponentially growing, very important, self-employment and
technical services Sector. These are opportunity and skill incubating in structure,
services and products.
 Innovative Speculators and Opportunist: It is a very simple but effective type of
entrepreneurship. These entrepreneurs know the best places buy products at the

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 cheapest prices, and then resell them! 1. The retail or reselling businesses are the
most profitable in the world; it is even bigger in scale than the IT business.
 Fraudsters or 419intrapreneurs: This type of is popularly known as money flip
entrepreneurs or Advanced Mutual fund fraudsters [419intrapreneurs] who
specializes in getting victims to a referencing group with promises to double their
investments [in a known company or capital market or bit coins exchange market]
in 24hours. Often, with pictures of money transfer alerts littering their social media
time line.
 Social Media or Sit-at-Home Entrepreneurs: There legit online or e-
Entrepreneurs also called Freelancers are professional bloggers, and those that have
signed up with social marketing software platforms like Fiver, Upwork, shoplite, jigi
market and Amazon which post their resumes and adverts almost free for basic
members and scaled payment regime for premium membership. There is nothing
wrong when people prefer to work for themselves and take responsibility for their
work and activities only if it's legit and backed by law.
 Industrial and Cooperate Entrepreneurship: the normal private sector which
span Manufacturing industry, Food and Beverages, Finance and Insurance, etc.
Another important sector is the oil and gas marketing including black marketers
cum touts restricted refinery of petroleum products, etc.
 Agricultural Entrepreneurship: this is the most common and un-audited group of
entrepreneurship types. By tradition and culture, most tribe in Nigeria are
occupationally agriculturists and hunters. Cross culture, agricultural products are
produce with respect to government encouraged and established large scale
farming in particular crop, fish farming and animal/bird rearing. Land/soil nature,
rainfall and edaphic factors are responsible for the differing farm product, quantity
and type of harvest sizes. Agric-products market, interstate exchange programmes
like in rice, palm oil etc, and ministry of interior and export, policy and local
government support in seedlings and fertilizer are major Government Interventions
in these areas.

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  The entrepreneurship that imitates a good or service operating in the market
under a franchise agreement is the imitative entrepreneurship. It is the medium that
spread technology over the world. It adopts an existing technology in countries over
the world. It also adopts an existing technology with minor modifications
appropriate to the local condition. This is a common phenomenon in the Eastern
part of the country; spare parts, iron billets, foundry and modelling, and also local
car/bus assembly like Immosen Motors in Enugu, custom build hybrid sport car in
Jos/Abuja, etc.

Problems of Entrepreneurship Development in Nigeria

There are many problems affecting the development and growth of enterprise within
Nigeria economy. D. C. Ikechukwu. (2014) identified one of the problems as power supply
which is the bedrock of production. It has proven to be the greatest challenge to any
aspiring entrepreneur in Nigeria. Most times businesses have to be run using generators.
The cost of running a business with a generator reduces the profit which an entrepreneur
may earn. During scarcity of gas or petrol, businesses are grounded. This factor adds
immensely to total overhead cost leading to high cost of product/services. This is a
discouragement to entrepreneurial development. Metu et al (2014) confirmed that
“entrepreneurship is lacking in Nigeria due to certain challenges such as epileptic power
supply, lack of genuine support for those intending to start up a business, lack of strong
willed-power to take risk; all these and more inhibit entrepreneurship development and
creates unemployment.”

Another worrisome problem is the issue of transportation from rural to the urban or the
agricultural product market. Air transport is very expensive beyond the reach of young
entrepreneur, however, both state and Federal Government have jointly and individually
developed a commendable the rail road transport in the northern part of the country. One
is that of Kaduna State, and from Kaduna to Abuja. Road transportation exposes the
business men and women to the risk of poor road condition and criminals (especially
kidnappers in the North and armed robbers in the south West.

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The few entrepreneurs who have taken their destiny in their hands and have taken the
initiative to start off a project ventures are faced with serious problems such as lack of
capital and inadequate access to loan scheme needed for expand, lack of security of lives
and property, lack of managerial prowess and absence of the zeal to take risk, etc.
Entrepreneurship is a veritable employment alternative to wage employment and panacea
to graduate unemployment. Interesting is the growing formal women enterprise and big
time middle women against the old subsistent petty retailers, market hair weaving and
food-stock/items selling Women and Northern sit-at-home snack and food sellers using
their young daughter seeking marriage opportunities. Many are serious Female
Entrepreneurs and Business CEO's are struggling to be taken seriously: At one time or
another, most women CEOs find themselves in a male dominated industry or workplace
that does not want to acknowledge their leadership role. Many had proven themselves, and
some much more capable and successful than their male colleagues or competitors. Alison
Gutterman, CEO and president of her family's business Jelmar,[Error: Reference source not
found] had this experience early in her career. She wrote, "As a female entrepreneur in a
male-dominated industry, earning respect has been a struggle,"
In fact, balancing both business and family life can be threatening to both the family and
Business. Parent entrepreneurs have dual responsibilities to their businesses and to their
families; finding ways to devote time to both is key to truly achieving that elusive work-life
balance. Women need to understand this dynamic and approach their pitches accordingly.

2. ENTREPRISE CULTURE
Entrepreneurial Culture
Birkinshaw, Hood and Jonsson (1998) defined entrepreneurial culture as an organizational
context in which certain behaviours, including initiative are fostered. This definition
confines entrepreneurial culture in a business context. In the same vein, Prabhu (2005),
Conrad (1999) and Dulcic (2003) defined entrepreneurial culture as a type of
organizational culture while Dulcic (2003) further described it as a mix of all the factors
that form the entrepreneur’s personality. Beugelsdijk (2007) and Chen and Lin (2006)
defines entrepreneurial culture as characteristics of entrepreneurs with Benneworth
(2004) asserting that entrepreneurial culture reflects localized social mores and

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accumulated economic success which are not easily replicated elsewhere. These different
perspectives on entrepreneurial culture having been defined within the context of
established businesses limit the applicability of such conceptualization to development of
entrepreneurship among individuals in the society. Hence, with the interest of
governments to foster an entrepreneurial culture in the society, how is such a slogan
conceptualized for its application to the society? Entrepreneurial culture is a term derived
from two words ‘entrepreneurial’ and ‘culture’. Our understanding of the meaning of these
two words can to a great extent aid in the conceptualization of entrepreneurial culture.
Wickham (2006) defined the term entrepreneurial as an adjective describing how the
entrepreneur undertakes what they do. He asserted that to use this adjective suggest that
there is a particular style to what entrepreneurs do. Atherton (2004) defined being
entrepreneurial as a behaviour that can be demonstrated and manifested regardless of the
nature of involvement in an organization. Building on the body of knowledge on culture,
Brownson (2011) defines culture as an attribute, values, beliefs, and behaviour which can
be learned or acquired by man from one generation to another, from one individual to
another, from one group to another as long as one is a member of the society and it has the
ability of distinguishing one group from another. Therefore the nurturing of certain
attributes, values, beliefs and behaviour indicates an attempt to foster a certain type of
culture. Entrepreneurial culture is here conceptualized as a society that depicts the
exhibition of the attributes, values, beliefs (attitude or mindset) and behaviour associated
with entrepreneurs by individuals in such a society which distinguishes them from others.
As such, to foster it implies that such government policy measures must anchor on the
promotion of the attributes, values, mindset and behaviour associated with entrepreneurs
in individuals which will impact on such individuals’ mindset towards entrepreneurship.
Such an individual can be propelled to act entrepreneurially in an already established
organization and other areas of life where they are opportune to find themselves. This
implies that such individual when nurtured by any policy measures targeted at
entrepreneurship will differ from other individuals since culture distinguishes one group
from another (Hofstede, 1980).
Dimensions of Entrepreneurial Culture
Organizational Enthusiasm

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This facet of organizational culture refers to the key characteristics of an excitement for
accomplishing organizational goals and missions, understanding organizational vision,
having passion for the work, and a unity of purpose. Organizational enthusiasm is highly
related to past entrepreneurial culture conceptualizations that referred to the
characteristics of possessing a vision and passion for the business (Shepherd, Patzelt &
Haynie, 2010; Sundaramurthy & Kreiner, 2008). This concept is partially based on
entrepreneurs' perspectives towards work, purpose of entrepreneurial organizations, and
their overarching vision for the organization. For example, Dyer, Gregersen and
Christensen (2008) noted several entrepreneurs who remarked about wanting to “change
the world” and “make the world a better place.” The vision of Apple’s Steve Jobs is often
referenced in this same sense (Aley, 2011; Dyer, Gregersen, & Christensen, 2008).
However, while entrepreneurs may aspire to make an important societal or world impact,
there is clearly a great gulf between most entrepreneurs and Steve Jobs. For instance, an
organization like Apple is of such a size and scope that grandiose visions of change may
carry a very different meaning than in smaller organizations. Vision in entrepreneurship
has also been described as identifying customer needs and spotting opportunities,
developing systems to review the external environment, formulating appropriate
objectives and strategies to guide the organization, creating a shared vision, and developing
a mission to give purpose to the organization (Sadler-Smith, Hampson, Chaston, & Badger,
2003). These kinds of mundane, but more specific and practice-oriented examples of vision
may be much more in line with an entrepreneurial culture’s orientation to work. Indeed,
what this might describe is a work orientation towards accomplishment and goal
achievement. That is, entrepreneurial cultures are oriented towards seizing opportunities,
accomplishing goals, and having an accurate sense of the overall mission of the
organization. As with vision, passion has also been studied as an important individual
aspect of entrepreneurs. Where vision represents the existing place and future direction
that entrepreneurs may see for their organization, passion refers to the zeal and
enthusiasm they have for their organizations. Entrepreneurial passion has been defined as
"an entrepreneur's intense affective state accompanied by cognitive and behavioural
manifestations of high personal value" (Chen, Yao, & Kotha, 2009: 201). Passion plays an
important role in organizations, and is a strong indicator of how motivated an

1
entrepreneur is in building a venture, whether he or she is likely to continue pursuing goals
when confronted with difficulties, how well he or she articulates the vision to current and
future employees, and whether he or she will be able to influence, persuade, and lead
people in growing the venture (Chen et al., 2009).

Stakeholder Alignment
Stakeholder alignment refers to the nature of the organization’s relationship with its
stakeholders, such as customers, suppliers, partners, and investors. A stakeholder
alignment is focused on building and developing supportive relationships with these
stakeholders, and recognizing and appreciating how these relationships benefit the
organization. Past definitions and descriptions of entrepreneurial culture have not
emphasized a stakeholder orientation and this seems like an important oversight. The
critical role played by stakeholder relationships has been noted numerous times in the
entrepreneurship literature. Zott and Huy (2007) described how customer and supplier
relationships and responsive customer service were critical to new start-ups. Chen et al.,
(2009) found that entrepreneurs needed to be very attentive to the perceptions of
potential investors who would analyze new ventures with great scrutiny. Chatterji (2009)
noted that entrepreneurial ventures would need to carefully manage their credibility with
potential new partners when getting started. Ozcan and Eisenhardt (2009) described how
start-up firms utilized ties with investors to develop their initial business. These sources
highlight the importance of managing stakeholder relationship hold for entrepreneurs and
entrepreneurial ventures, which suggests a similar implication for entrepreneurial
cultures. Furthermore, the importance of managing stakeholder relationships is echoed in
the cultural subtype examples, namely TQM and adaptive cultures. In these examples,
achieving results and satisfying the legitimate interests of stakeholders are seen as
important organizational values. However, the difference between stakeholder alignment
as described here as a cultural dimension versus a stakeholder alignment as a form of
strategy lies in the notion of a “moralist” stakeholder culture (Jones, Felps & Bigley, 2007).
A “moralist” stakeholder culture refers to possessing a genuine concern for the welfare of
normative stakeholders, that is, stakeholders for whose benefit the firm should be
managed. In this case, stakeholder relationship would not be viewed as necessarily

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strategic means towards organization ends, but rather as legitimate claim holders to good
organizational management.
Learning & Development Support
This facet is characterized by cultural values of optimism towards improvement, valuing
efforts to learn, improve one’s self and others, and an interest in employee development.
This facet is influenced by past literature which indicates that entrepreneurial cultures
broadly value continuous improvement, new ideas, and experimentation (Monsen & Boss,
2009; Shepherd et al., 2010). In entrepreneurial cultures, people are thought to generally
(or at least sometimes) have good ideas and are motivated to improve things and pursue
new opportunities. In Dyer et al., (2008) study, an entrepreneur remarked that he noticed
that young people in his organization are impressionable because they do not yet know
what to do and ask questions to try to understand. This inquisitiveness and interest in
learning was seen as valuable and worth fostering in the organization. Kotter (2001) noted
a CEO of an organization with a self-described entrepreneurial culture where the
organization would offer special training to “high-potential” young people, an enriched set
of experiences, and an unusual degree of exposure to people in top management. This
suggests that people in the organization were perceived as malleable in that they could
learn and benefit from this special training and instruction. In an innovationsupportive
culture, the behaviour of individuals making themselves vulnerable to feedback from
others, demonstrated a willingness to listen and learn.
Opportunity Driven Change
This facet is related to learning and development support yet distinct from it. Whereas
learning and development support emphasizes personal improvement, opportunity driven
change speaks to the core entrepreneurial features of innovation, creativity, and risk-taking
with respect to products/services and processes. As indicated by Ireland et al., (2003)
definition of entrepreneurial culture, continuous change, the improvement of
products/services and processes, and valuing innovation and risk-taking are seen as
conveying new opportunities. Innovation in particular is strongly associated with
entrepreneurship. This association is usually traced back to the work of Joseph Schumpeter
(1883-1950) who defined the entrepreneur as an innovator and a person who carries out
new combinations, in whatever position within a business (Van Praag, 1999). The process

1
of innovation has been defined as “the development and implementation of new ideas by
people who over time engage in transactions with others within an institutional context”
(Van de Ven, 1986: 591). These notions of developing new ideas and taking a chance on
them to seize new opportunities seem central to an entrepreneurial culture.
Cohesiveness
In entrepreneurial culture literature and in the related subtype examples, the general
notions of collaboration, communication, and social interaction were identified as
important cultural characteristics (Ketchen Ireland & Snow, 2007; Salama, 2011). However,
what appears to be related yet overlooked was the kind of collaboration that reflected
dealing with the shared struggle and adversity often experienced in entrepreneurial
ventures. For example, the shared struggle of start-up where entrepreneurs and early
founding teams go to great lengths to get the venture operational (Carter, Gartner &
Reynolds, 1996) or perhaps the shared struggle and sacrifice experienced as part of the
venture’s later survival (Haugh & McKee, 2004). For entrepreneurs, there is also the
struggle and adversity that comes from challenging the status quo of a market or industry
(Dyer et al., 2008). An entrepreneurial culture would seem to require collaboration and
sharing, but also something more than that. As a result, the facet of cohesiveness is
envisioned to include the notions of collaboration, communication, and sharing, in addition
to the notions of coordination and responsibility in the organization.
Constituents of Entrepreneurial Culture
Entrepreneurial Attributes
Entrepreneurial attributes have been recognized as being of great importance in
understanding and fostering entrepreneurship (Raab Stedha & Neuner, 2005). Attributes
are indicators of entrepreneurial potentials. They can be acquired from both nature and
nurture (Bridge, O’Neill, & Martin, 2009) thereby implying that every individual may have
some entrepreneurial attributes though most of them may not realize it. As such, it may be
in this respect that some government through policy instruments seeks to nurture
entrepreneurial culture. Though it has been argued in the literature that entrepreneurial
attributes are stable (Rauch & Frese, 2007), some researchers disagreed with the view by
asserting that entrepreneurial attributes are changeable (Robinson, Stimpson, Huefner &
Hunt, 1991) in that, individuals who are thought not to possess certain attributes could

1
have such attributes developed via external triggers (ibid.) of which government policy
measures are likely to trigger such changes in the participants of such measures.
Entrepreneurial attributes allows a practical understanding of how entrepreneurial culture
manifest itself (Lee-Ross & Mitchell, 2007).
Entrepreneurial Values
Kluckhohn (1967 cited in Kundu, 2009) defines value as a conception, explicit or implicit,
distinctive of an individual or characteristics of a group, of the desirable which influences
the selection from available modes, means and ends of actions. Values are associated with
standards of behaviour (Soanes et al., 2006 cited in Brownson, 2013) as such,
entrepreneurial values are those values or standards of behaviour associated with
entrepreneurs in which when nurtured can distinguish such individual from others. Values
are the driving force for decision making (Keeney, 1994). They reflect the entrepreneurs
conscious view (or belief) of him/herself and directly shapes his/her movement towards
action or owns’ motive (McClelland, 1965). Thereby implying that values can influence a
person’s mindset for actions on behaviours. Kilby (1993) noted that values are
instrumental in advancing the constructive understanding of human behaviour and
consequent change. As such, personal values have important implications not only for the
decision to pursue entrepreneurship but also in the way in which the individual
entrepreneur approaches a venture (ibid.). Morris and Schindehutte (2005) pointed out
that, values can become internalized in such a way that they affect entrepreneurial motives
and behaviours. Scholars have found that variation in the prevalence of entrepreneurial
values and beliefs affect the rate of the formation of new firms (Fritsch & Mueller, 2004) as
such, these points to the importance of shaping individual’s values towards
entrepreneurship if the government is to attain their goal of job creation. Payne and Joyner
(2006) identified three values prized by successful entrepreneurs which are integrity,
honesty and work ethics. Mourdoukoutas and Papadimitriou (2002) associated values such
as autonomy, the freedom to act independently, innovativeness, freedom of
experimentation, risk taking, proactiveness, ability to take initiatives and competitive
aggressiveness with entrepreneurship. Tambunan (1999 cited in Shariff & Peou, 2008)
found that small business owner-managers having entrepreneurial values such as
creativity, integrity, achievement, among others, were more likely to have superior

1
performance in managing organizations than owner-managers without these values.
McGrath, MacMillan & Scheinberg (1992) in their exploratory analysis of cultural
differences between entrepreneurs and non-entrepreneurs concluded that entrepreneurs
share a common set of values despite their different cultural backgrounds. As such
intervention should seek to increase the social recognition of entrepreneur’s value to aid in
the fostering of entrepreneurship.
Entrepreneurial Mindset
Mindset is a mental attitude which determines how an individual will interpret and
respond to situations (Wordweb, 2009). It is defined as a learned predisposition to respond
in a consistently favourable or unfavourable manner with respect to a given object
(Schwarz, Wdowiak, AlmerJarz & Breitenecker, 2009). Fisbein and Ajzen (1975) posited
that attitude is one of the psychological systems that cannot be seen completely through
actions but, can only be seen through actions shown impliedly but not made explicitly in an
individual. Attitude provides the foundation for human motivation and personal
accomplishment (Kristansen & Indarti, 2004). Therefore, the question here is, can an
individual’s mindset be nurtured in a particular direction? Robinson et al. (1991) explained
that attitude is dynamic in nature, it changes across time and from situation to situation.
The rate of change varies depending on how deep seated or fundamental the attitude is to
the individual’s identity. Therefore, by being interactional, attitudes influence and are
influenced by experiences we have, actions we take, and how we think and feel about those
experiences (ibid.). This implies that individuals who participate in any designated
government policy in their bid to foster entrepreneurial culture may have a change of
mindset towards entrepreneurship (Schwarz et al., 2009). As previously stated that the
constituents of entrepreneurial culture are related to each other, attitude has been found to
be related to entrepreneurial behaviour (Krueger, 1993). For instance, Luthje and Franke
(2003) suggested that if public policies seek to raise the number of new entrepreneurs, an
improvement of individual’s attitude towards entrepreneurship is an effective level. Moen,
Rahman, Salleh and Ibrahim (2004) recommended that programmes should aim at
cultivating attitudes towards entrepreneurship as a person may have the business
knowledge but without a positive attitude about entrepreneurship, they may not plunge
into the field as such a change in their attitude with more positive aspects towards the

1
entrepreneurial field should be emphasized thoroughly to produce more entrepreneurship
among participants (ibid.). In the same vein, Walstad and Kourilsky (1998) added that
those who wish to foster entrepreneurship must support and reinforce the perceptions
that it is personally feasible, and socially and personally desirable. Empirically, studies have
also linked entrepreneurship programmes to a change in attitude towards
entrepreneurship. For instance, Hatten and Ruhland’s (1995) study of students’ attitude
towards entrepreneurship in an SBI (Small Business Institute) programme found
significant and positive changes in the students’ attitude towards entrepreneurship
emphasizing that participants in entrepreneurship programmes are more likely to become
entrepreneurs.
Entrepreneurial Behaviour
The creation of new venture is the central focus of entrepreneurship research (Samuelsson
& Davidsson, 2009). New venture creation is sometimes referred to as the entrepreneurial
behaviour/action, start up (Ibid.) as well as entrepreneurship. Entrepreneurship has been
used in the developed countries as one of the most effective means of tackling the problems
of unemployment of which various empirical researches have affirmed. For instance, Lasch
Gundolf and Kraus (2007) found unemployment as one of the key factors that determine
entrepreneurship. Pietrobelli, Rabellotti and Aquilina (2004) found relationship between
self-employment and emerging form of entrepreneurship. Self-employment was not
motivated by the desire to evade taxes, but rather an active role of the government was
seen to have enhanced it. Benus’ (1994) study on the US self-employment assistance
programme found that the self-employment programmes increased not only the likelihood
of entry into self-employment, but the likelihood of total employment as well as the
duration of the employment.

3. THE PROBLEM MILITATING AGAINST SMES IN NIGERIA

Financial Problems: About 80% of Small and medium entreprises are stifled because of
poor financing and other associated problems. The problem of financing SMEs is not so
much the sources of funds but its accessibility. Factors identified inhibiting funds
accessibility are the stringent conditions set by financial institutions, lack of adequate
collateral and credit information and cost of accessing funds. Harper believes that the

1
capital shortage problem in the small firm sector is partly one, which stems for the
uneconomic deployment of available resources by the owner-managers. This view was
shared by Ihyembe who claimed to have seen businessmen take loan for expansion
projects only to turnaround to marry new wives, acquire chieftaincy titles or buy houses
abroad. Bruch and Hiemenz in a study of SMEs in Asia observed that financing working
capital needs was the most frequently mentioned problem. Binks and Ennew expressed
the view that the funding problem of SMEs is primarily due to the behavior of banks and
imperfection of the capital markets.
Management Problems: Lack of trained manpower and management skills also
constitute a major challenge to the survival of SMEs in Nigeria. According to West and
Wood, “…90% of all these business failures result from lack of experience and
competence.” Rogers, also added that inefficiency in overall business management and
poor record keeping is also a major feature of most SMEs; technical problems/competence
and lack of essential and required expertise in production, procurement, maintenance,
marketing and finances have always led to funds misapplication, wrong and costly decision
making.
Inadequate Basic Infrastructure: Government has not done enough to create the best
conducive environment for the striving of SMEs, the problem of infrastructures ranges
from shortage of water supply, inadequate transport systems, lack of electricity to
improper solid waste management. Nigeria’s underdeveloped physical and social
infrastructures create a binding constraint to SMEs growth, since; they heavily rely on the
inefficiently provided state infrastructures and cannot afford the cost of developing
alternatives.
Socio-Cultural Problems: Most Nigerian Entrepreneurs do not have the investment
culture of ploughing back profits. Bala stressed that the attitude of a typical Nigerian
entrepreneur is to invest today and reap tomorrow. Also, the socio-political ambitions of
some entrepreneurs may lead to the diversion of valuable funds and energy from business
to social waste. The problem of bias against made in Nigeria goods is significant. Most
Nigerians have developed a high propensity for the consumption of foreign goods as
against their locally made substitutes.

1
Strategic Planning Problems: SMEs often do not carry out proper strategic planning in
their operations. Ojiako stated that one problem of SMEs is lack of strategic planning.
Sound planning is a necessary input to a sound decision-making. Location/Economic
Problems: Market stores are dominated by absentee landlords who charge exorbitant
rates. The ownership of market stores by politicians is crowding real small-scale operators
out of the market. The high rents charged by store owners on good locations have forced
real small-scale operators into the streets or at best into accessible places. Also, domestic
economic problems of deregulation and removal of protection as well as the global
financial crisis have been detrimental to SMEs.
Poor Accounting System: The accounting system of most SMEs lack standards hence, no
proper assessment of their performances. This creates opportunity for mismanagement
and eventually leads to the downfall of the establishment.
Multiple taxations: This has become a major problem especially given the role of tax
consultants and agents hired by local governments. They are often crude in their
operation, excessive in their assessment and destructive in their relationship with the
production process. They tax everything in their bid to generate revenue without
considering the net effect to household incomes and employment.
Unstable policy environment: Instability in government policies have caused some SMEs to
collapse. One of such policies is that of the 1980s when government specified that cocoa
should not be exported in raw or unprocessed form after a specified deadline.

1
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