Entrepreneurship and socioeconomic development

Felix Moses Edoho

African Journal of Economic and Management Studies, 2015, vol. 6, issue 2, 127-147

Abstract: Purpose - – The purpose of this paper is to examine the impact of public policies on engendering entrepreneurship and micro, small, and medium enterprises (MSME) development in Nigeria. Gaps in policies and factors that impede entrepreneurship and MSME development are identified and proposals are offered to address the impediments. Design/methodology/approach - – A thorough review of the mainstream literature on entrepreneurship and MSME development is undertaken. This constitutes the reference point for identifying and reviewing specific public policies formulated and programs designed to stimulate entrepreneurial activities and facilitate MSME development. Data were obtained from federal government agencies. This paper contends that for public policies to accomplish their designed objectives of engendering entrepreneurship and MSME development, strategic realignments of various policy dimensions and programs are imperative. Findings - – Misalignments occur when existing public policies in other domains are in conflict with policies to promote entrepreneurship and MSME development. Policy misalignments negate the profit motive of entrepreneurship; stifle business innovation and expansion; and contribute to survivalist mode of entrepreneurship in the country. This thwarts the public policy goals of creating jobs and alleviating poverty. Practical implications - – Government needs to streamline current regulatory requirements and revamp tax policies to encourage entrepreneurs and MSMEs. Improvements in infrastructure (road networks, highways, power supply, and telecommunications) will significantly reduce overhead costs for entrepreneurs and help MSMEs to grow. Originality/value - – The paper demonstrates that without strategic realignments of public policies to ensure consistency and coherency in various dimensions, efforts to promote entrepreneurship and MSME development will not yield positive results. Existing public policies and programs need to be brought into tight realignment with policies and regulations in other domains to galvanize entrepreneurial efforts.

Keywords: Nigeria; Entrepreneurship; Public policy; Poverty alleviation; Unemployment; Economic growth; MSMEs; Policy misalignment (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:ajemsp:v:6:y:2015:i:2:p:127-147

DOI: 10.1108/AJEMS-03-2013-0030

Access Statistics for this article

African Journal of Economic and Management Studies is currently edited by Prof John Kuada

More articles in African Journal of Economic and Management Studies from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().