Business enterprise is the answer for change in Nigeria

Huge strides have been made in the last few years to try to tackle the many endemic problems which assail the country with political and economic stability being seen as the key weapons in attacking the corrosive influence of corruption. Whether the actions being taken on the ground now lead to dramatic improvements in levels of transparency and levels of corporate governance remain to be There have been a number of improvements that is allowing Business enterprise to grow. If these improvements continue and more are created, then Nigerian can escape its third world status and become an emerging economy.

The improvement includes:
Entrepreneurs are able to control their own lives and can lives and can obtain security for their families without government interference. The Nigerian government has now made it possible for Nigerian products to be shipped to Europe and the United States. If an individual wants to manufacture jewellery and sell it online, they can now market to U.S. and European customers.
Entrepreneurs in Nigeria are being offered tax incentives, such as not having to pay so much in taxes. Increased price ceilings also serve as a great incentive. Modern technology is finding its way into Nigeria culture, making the country self-sufficient in the technology sector. Although there are still barriers to break through, there is nowhere to go but up. Business enterprise is the way in which Nigerian will become a developed nation.

Opportunities
There are opportunities out there to help those looking to break into business venture. Venture capital can be obtained via foundations, trusts, and NGOs. It is just a matter of researching and finding these funding opportunities. Established in December 1999, the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) instructed all Nigeria’s banks to put 10% of their pre-tax profit in order to invest in small and medium sized business of their own. As of 2006, only 26% of this funding had been used. This shows that money is there.
Nigeria also has an organization that is similar to the United State’s Small Business Administration (SBA).  The Nigerian organization is The Small and Medium Scale Industries Development Agency (SMEDAN). It is very young, but working on providing entrepreneurs with funding.
Skills and Ideas Development Initiatives (SKIDI) is an NGO that is helping entrepreneurs realize their dreams in Nigeria so that they can obtain the freedom that they desires within their life. That is both financial freedom and the ability to be with their family. There is a specific focus on rural and suburban Africa, especially since rural areas do see more poverty. The poverty rate in Nigeria in rural areas stood at 40% in 2001. That was compared to the 35% in urban areas where more businesses tend to exist.

How business enterprise helps
It is easy to just say that business enterprise is the answer for change in Nigeria, but other than the fact that enterprises is the answer for change in Nigeria, but other than the fact that entrepreneurs are given  more freedom, it is important to evaluate other factors. For instance: More tax money flows into the government, allowing for more opportunities to be made available to Nigerians and for more programmes to be implemented that will work on reducing the poverty rate.
Jobs are created. In the United States, there are 2 to 3 new jobs created per small business that is opened. It has been determined that the figures are quite similar in Nigeria. More jobs also mean more tax money and spending that stimulates the economy. These are the factors that make any economy operate. Money has to keep flowing in order to keep money in the pockets of citizens.

Source- vanguardngr.com