Sustainable Entrepreneurship and Sustainable Development in Nigeria: Prospects and Challenges

Adijat Olubukola Olateju, Rasaq Akonji Danmola and Abubakar Wambai Aminu
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Adijat Olubukola Olateju: Faculty of Social Sciences, Department of Economics, Lagos State University, Ojo, Lagos, Nigeria
Rasaq Akonji Danmola: Faculty of Social Sciences, Department of Economics, Lagos State University, Ojo, Lagos, Nigeria
Abubakar Wambai Aminu: Faculty of Social Sciences, Department of Economics, Bayero University Kano, Kano State, Nigeria.

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 11, 372-377

Abstract: Entrepreneurship development is not a new tool for poverty reduction across the globe. However, with the recent awareness of the need to make the environment healthy for people, planet, and bio diversity, the need for sustainable entrepreneurship has been in the limelight. For sustainability to be achieved in terms of economic, social and environment, entrepreneurs both in developed and developing countries have been encouraged on the need to go green in their business activities. However, in most developing countries like Nigeria, the awareness is low. In view of this, this study focuses on this grey area of research by conceptualizing what sustainable entrepreneurship is all about. Specifically, the study explains the concept of sustainable development and sustainable entrepreneurship, examines the prospects in sustainable entrepreneurship, and identifies some challenges that could be encountered when entrepreneurs embarked on sustainable entrepreneurship. This will help to create awareness for both existing entrepreneurs and new entrepreneurs on the need to go green in their business activities, which will eventually help to safeguard people and the environment from environmental issues such as pollution and degradation and at the same time enhances profitability.

Date: 2020
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