Reflecting on our Country at 58. Whenever our Independence Day emerges, we look at the heights at which we as a country have attended. Our country Nigeria, has grown and the citizens have diversity into various trades and opportunities. Looking at the major job opportunities available in the early days was mainly in the public sectors, which resulted to lack of employment and limitations to things.
However, entrepreneurship has stood as an important key factor in developing the economic activity. Young individuals over the years have been innovative and creative in various ways. In Nigeria today, entrepreneurs have been able to develop small and medium enterprises, as well as wealth creation, employment generation and private sector development.
This innovation by entrepreneurs has given birth to different forms of trade among individuals, which has overtime stood as an advantage to the Country by boosting up the Nigerians Economic System. Entrepreneurs have become the backbone of our economy. It is their important contributions that helps our society grow as a whole. One of the reasons the United State, China and other countries are such a dynamic, innovative and prosperous nation is because of the numerous business (entrepreneur) and availability of basic amenities.
Despite the effort of the entrepreneurs in Nigeria, we find out that, the economy sector is yet to be stabilized. Startups do not have a fall back plan in-terms of finance due to inadequate financial backing. A lot of startups and entrepreneurs experience financial issues due to lack of long-term financial stability. There is a gap that needs to be filled in-terms of adequate backing by financial institutions, lack of basic amenities and infrastructure. These are the basic reasons for issues/challenges that entrepreneurship development is facing in Nigeria today.
But we celebrate the level of technology that we have emerged and the effort of people for a better Nigeria. Nigeria has really developed over the years, but there is still more room for improvement and involvement by the government.
Startups and entrepreneurs should be able take up and leverage on some of the opportunities we have in Nigeria. As part of the technology, Businesses should be able to consider Data analysis and Data collation as an integral aspect for marketing purpose in business.
Startups or entrepreneurs should at all points endeavor and be smart to balance and fill the gap lacking in Nigeria.