Entrepreneurship Development: the Only Panacea for the Growth and Survival of Small and Medium Scale Enterprises in Nigeria

Abstract

The Nigeria economy is essentially a mitted one, with current emphasis on the private sector which is expected to play a more dominant role than hitherto. The entrepreneur being the backbone of this sector is required to make significant impact on the pattern and growth of industrial investment ride his creative ideas and innovation. This paper posits that the paucity of creative ideas and innovation on the part of indigenous entrepreneurs is responsible for the seemingly lackluster performance and growth for the survival of the small and medium scale enterprises. Therefore, the pragmatic solution that is proffered to redress the apparent intractable entrepreneurial deficiency should be imbibed and followed holistically.

Keywords: Entrepreneurship Development, Panacea, Growth, Survival, Small &Medium Enterprises.