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ACCOUNTING GROUP 1
ENTREPRENEURSHIP SKILLS
ASSIGNMENT
Answer: Entrepreneurship activity is the process of enterprising human action in pursuit of the
generation of value, through the creation or expansion of economic activity, by identifying and
for a nation. It encompasses all fields/sectors and fosters a spirit on enterprise for welfare on
mankind.
It is true that entrepreneurship activities in Nigeria are primarily based on necessity, this is
may have faced job losses: due to individuals facing job loss they decide to come up
with different entrepreneurship activity ideas in order to help and satisfy themselves.
dissatisfaction with their current positions: also due to this individual may not be happy
or feeling satisfaction, comfortable or happy in their current positions (e.g., in their jobs,
entrepreneurship businesses. Therefore, for these reasons they are pushed to start a
venture.
Due to how some areas or sectors are still under-developed, politically, economically and socio-
cultural crippled in Nigeria and where all the above problems arise and so much more like
unemployment, corruption, low standard of education security issues, poor planning, poor state
of the country’s infrastructure, etc., occurs, able and willing people are ready to start up their
own business no matter how small or big their idea may be. The success of generating income
for majority of rural and urban dwellers with no formal paid employment depends on
country like Nigeria) around the world and plays an important role for employment, income and
societal changes.
Good entrepreneurs can create a strong economy, Entrepreneurship activities and innovative
ingenuity in Nigeria has developed enterprises in areas like; agriculture, agro-allied, solid
strong in Nigeria. For entrepreneurs to be fully developed the country, they need to significantly
Reference:
Okezie A. Ihugba, Alex Odii & Asoluka C. Njoku (2013). Challenges and Prospects of
Entrepreneurship in Nigeria. Academic Journal of Interdisciplinary Studies Vol. 2(5). 2281-
4612.