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Rural Entrepreneurshipas A Strategy For Economic Development In Nigeria

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Rural entrepreneurship is gaining much importance for accelerating economicgrowth of the country. Rural entrepreneurship can facilitate self-employment, provide income to rural communities and helps utilize local raw materials.Rural development seeks to improve the living condition of rural dwellers through a long-term strategy focused on entrepreneurship. Rural entrepreneurship is a key symbol in economic development of a developing country like Nigeria. Thus, the policy for rural entrepreneurship development is to solve the problems of poverty, migration and depopulation by providing an alternative occupation to the rural people. To accelerate economic development in rural areas, it is necessary to support entrepreneurship efforts by the government and nongovernmental organizations as well as institutions for the growth of rural enterprises. Entrepreneurial growth in rural areas is to encourage local talent and ensuing growth of indigenous enterprises. This could result in revolutionizing the economy, .create employment and add economic value to a region as well as maintain scarce resources within the community. This paper emphasizes the essence of rural entrepreneurships in rural 3.areas, the policies necessary to create a favourable environment for rural entrepreneurship and how rural entrepreneurship can contribute to the growth of the Nigerian economy. It also identifies some of the main challenges in developing entrepreneurship in rural areas and proffer recommendations to enhance rural entrepreneurship.

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  • Bagla, Marcella, 2018. "Rural Entrepreneurshipas A Strategy For Economic Development In Nigeria," Ilorin Journal of Business and Social Sciences, Faculty of Social Sciences, University of Ilorin, vol. 20(1), pages 118-147, March.
    • Handle: RePEc:ris:ilojbs:0036
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