More Youths In Nigeria Aspire To Be Successful Entrepreneurs, Says New Study

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Do you want to become an entrepreneur? Do you have the right skills to start a business in Nigeria? Is it even a good idea? Well, if we are to believe a recent Global Entrepreneurship Monitor (GEM) survey, Nigeria is currently the world leader in enthusiasm for business. Numerous Nigerian youths have already started small and mid-sized businesses and not only achieved success, but also created more employment and significantly added to the national economy. So, if you are planning to be an entrepreneur in Nigeria then this is surely the perfect time. Read on….

Nigeria is an entrepreneurial country

The GEM study found that across Africa there is a growing trend of people who are facing obstacles and taking risks to start their own businesses. Empowered with a positive attitude, they are defying a wide range of challenges to make the most of the opportunities as several African nations are experiencing remarkable economic development. The survey revealed that Nigeria is currently leading the world regarding the volume of population who think they are capable of running a business. Around 90 per cent of adults in the country think they have what it takes to be an entrepreneur. The findings showed that 35 out of every 100 adult Nigerian are engaged in some activity related to entrepreneurship. Moreover, most Nigerians are not discouraged by the fear of failure as merely 21 per cent were worried that their company will not succeed.

According to the Global Entrepreneurship Monitor (GEM) survey, Nigeria is considered as an entrepreneurial country with most adults seeking entrepreneurial opportunities, have faith in their abilities and feel ready to start and run a company. As a matter of fact, around 44 per cent of the country’s population wish to start their own business in the coming 5 years.

Empowering aspiring entrepreneurs

GEM claimed that Nigeria has already taken some necessary steps to provide the required support to medium and small-sized companies. Furthermore, the federal government is focussed on offering valuable support to the private sector as a policy priority. It said “A number of schemes to help small business are in operation such as the Bank of Industry (BoI) and the Bank of Agriculture (BoA).” It was also discovered that around 82 per cent of youths in Nigeria recognise excellent entrepreneurship opportunities.

Additionally, a further 82 per cent of youths believe that entrepreneurship is a lucrative career; while almost 77 per cent of them think that being a successful entrepreneur will fetch them recognition and high status.

How to be a successful entrepreneur

So now you know that becoming an entrepreneur in Nigeria is an excellent career choice which can fetch you both financial stability and recognition. But do you have the necessary skills to run a business?

It’s true that you don’d need a degree to become an entrepreneur, but having the right business skills and knowledge will enable you to take your company forward. Studying business can substantially help you to understand business and develop the required management and leadership skills. But in this era when college has become ridiculously expensive and taking student loan has become almost mandatory, it simply does not make sense to pursue a full time business programme. I believe that pursuing an online business management diploma is a much better and more effective solution.

Why study business

Online business programmes are designed in a way to help you understand the core concepts of business and management and develop entrepreneurial skills. Moreover, as these courses are highly flexible, you can work on your start-up and continue your studies at the same time. In fact you will be able to apply whatever you learn immediately at your work and further hone your skills. What’s more? Online management diploma programmes are highly affordable so you can easily avoid student debt and invest your savings in expanding your business.

If you are looking for a practical solution for learning business and starting your own company in the best way possible, then studying business online can help you achieve your goals.

What do you think about being an entrepreneur in Nigeria? Add to the discussion by leaving your comments below.

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