Entrepreneurialism is an important factor in the development of any nation. Entrepreneurs are responsible for taking calculated risks that open up doors to progressively higher levels of economic growth. If it weren’t for them, the world would never have knows such marvels as the wheel, electricity or the Internet, to name just a few.
Entrepreneurs are the veritable backbone on which the world and modern ideas continue to develop. The magnitude and reach of their contributions, however, extend much beyond the world of business and economy, and to them goes irrefutable credit for the growth and evolution of societies at large. Developed nations across the world owe their current prosperity to the collective effort of intrepid entrepreneurs, on whose innovation also rests the future prosperity of much of the developing world.
The larger rewards of risk-taking, starting an enterprise and developing it into a successful business venture extend well past its immediate beneficiaries. The scope of financial freedom and flexibility that entrepreneurialism allows is a means to simultaneous individual and national prosperity. If this holds true for economies around the world, it has especially relevance for Nigeria, which is at the cusp of a new era of progress.