An entrepreneur is someone who innovates and transforms ideas into economic commodities. Entrepreneurs don’t just dream. They dream, and bring to birth the dreams or visions in their minds and hearts. They are a force, and if properly harnessed, they would drive a nation to great heights.

Great economic growth is not possible without entrepreneurs playing an active role. The truth is that, no economy can be developed or transformed without entrepreneurs and their businesses. Entrepreneurship sits at the core, or foundation of very buoyant and vibrant economies in the world. It is a major player in the growth of nations.

Most thriving economies provide suitable conditions and supports for entrepreneurship. More than 50% of Nigeria’s gross domestic product is produced by entrepreneurs and small-scale businesses. It is sad that an overwhelming number of entrepreneurs in Nigeria, and in Africa, are unable to sustain themselves in the long run. This is as a result of lack of active support: both financially, and morally, bad economic policies enacted by the government. It is unfortunate that what we have in most African countries are governments that are insensitive to the needs and wants of its people.

In recent times, the government of most African nations have shown that they are not capable of managing and providing an enabling environment for start-ups and businesses. The level of incompetence and insensitivity of our leaders in the economic/entrepreneurial space is high. The high scale of corruption and fraudulent activities have become deeply entrenched and sometimes facilitated by the supposed regulatory bodies meant to police and supervise commercial and economic activities in our nations.

This and other factors have greatly affected the impact and growth of entrepreneurs and entrepreneurship in Africa. However, entrepreneurs are giving it their all and still growing. Their resilience and grit are astonishing. Small businesses and entrepreneurial innovation are the engines that build national growth. Here are some of the benefits of entrepreneurship:

Entrepreneurs provide job opportunities within every economy: As a result of the business activities, entrepreneurs create job opportunities for the unemployed youths, and members of the community, and create suitable environments where members of their staff and the community can work together, and grow together.

Entrepreneurship reduces the crime rate in the society: There is a saying that “a hungry man is an angry man”.  As a result of the economic activities of entrepreneurs in a giving economy, idle, angry and unemployed youths who would have naturally turned to crime are able to get jobs and do meaningful things with their lives.                               

Entrepreneurship help curb the poverty margin within any economy and provide financial security: A community or state with a high level of financial security will do well and progress. Members of the community will be economically safe and secure. This is one major benefit that entrepreneurship brings to a community or state. Entrepreneurs curb the poverty margin within an economy. They do this by establishing businesses and employing members of the community. they help fight or limit the impacts of poverty in the society through gainful employment and other roles that they play within the ecosystem.