Entrepreneurs are the Creative Force in the Economy. Is Your Government Helping or Hindering them?

         About three year ago, I sat in my lecture room with other students, paying attention to the entrepreneurial development talk being delivered by a Business Administration lecturer. The very core of that discussion was centered on how Asian countries have since overtaken world economy. Asian tiger was his abrupt description- china, Japan, Korea, Taiwan, etc. Now, if Japan’s total area is 145,913 sq mi and its land area is 140,728 sq mi what does that say? That the land occupied by people is very high, that even as a densely populated country, the amount of land arable is insufficient and deficient to accommodate needed food for the people, so it timely catapulted technology, balancing it with a favourable income distribution and labour index, internal investment and a preserved cultural heritage.

Small and Medium Scale Enterprises is the only hope for catapulting Africa’s business light. The large scale enterprises prefer to trade outside the shores of Nigeria even allow the same price on goods not minding the rates of currency exchange at home. Now, there is a global indefinite price tag to imports especially unrefined petroleum. The huge import price to Nigeria has made the government take sole import obligation though there may be ‘big wigs’ importers and smugglers. This product goes through refined stage overseen by government. In this way entrepreneurs do not come into the picture at all. In fact entrepreneurs are like ordinary retail buyers in the street. There is too much of government interference in entrepreneurial catapulting strategies.

Is the Nigerian government helping them? This work is critical as it accentuate both the good and the bad. So yes, to some extent the government is helping. The Nigerian government is battling the issue of high import over export especially home made goods. Each successive government has continued to find measures to boycott Nigeria’s import of locally made goods especially food stuffs and clothing – even refined petroleum and automobile. The market is open for all anyway even though the elite still order from overseas. Also, the government have seen, though not fully, the advantage of agricultural practices and the positive benefit it will bring to the country, so loans, free fertilizers, roads networks, large market are been provide by them. Lastly is Tariff which has gone a long way in aiding the average man especially on drug purchase.

What are the natural causes helping entrepreneurs? Population should be first. It is more like the foundational success for any business to strife. The market is there if the right marketing and genuine publicity is at place. Lastly is tax evasion. Many Nigerian businesses do not pay their taxes. This is bad for the economy but it is good to them. They believe that since the government can not make decisive and tangible projects with it, they should invest the money back into the business.

How is the government hindering entrepreneurs? Lack of recognition is first. The government chose not to recognize these hardworking men and women. They don’t even do business with them they rather prefer it being done my political friends. There is also a high rate of import over export. Furthermore, the rate at which the average Nigerian youth consume technological devices e.g. gadgets is alarming. The country does not have responding competent personnel and institutions to manufacture these things which should be a top priority for the government. Also, there is unnecessary cash flow in the country. This money, circulating illegally do not allow for legal circulation. High profile government officials are largely guilty of this. Lastly, lack of social amenities especially electricity is a huge problem. Even after privatization, electricity is still not constant which is daily hampering on the sales and workability of business places. Roads need to be fixed, clean water, peaceful environment and skill acquisition centers.