Developing the Entrepreneurial Spirit: Key to African Development
Small
business growth has been widely acknowledged an engine of economic growth and
industrialization, from highly industrialized countries to South East Asian
exemplars. Accordingly, empirical evidence is replete which show the
essence of entrepreneurship development in the proliferation of small and
medium scale enterprises.
European governments, in the wake of the Euro zone crisis and beyond, perceive entrepreneurship as a vehicle of job creation and steady economic growth, and provide supportive policies to foster entrepreneurship development.
Also, there are a number of conceptual models that link government initiatives for entrepreneurship education with poverty alleviation. Besides, in countries of Africa where the rate of population growth oversteps employment growth, promoting entrepreneurship is both desirable for employment creation and as a strategy for poverty alleviation.
European governments, in the wake of the Euro zone crisis and beyond, perceive entrepreneurship as a vehicle of job creation and steady economic growth, and provide supportive policies to foster entrepreneurship development.
Also, there are a number of conceptual models that link government initiatives for entrepreneurship education with poverty alleviation. Besides, in countries of Africa where the rate of population growth oversteps employment growth, promoting entrepreneurship is both desirable for employment creation and as a strategy for poverty alleviation.
Consequently, several public policies of
African countries have begun to pay increasing attention to private sector
development given the widespread acceptance of entrepreneurship and new firm
formation as catalysts of growth and sustainable innovation.
As Dambisa Moyo stressed in her book Dead Aid, Africa needs more than ‘handouts’ in form of government-to-government aid which encourages irresponsible governance, it needs a commitment towards enterprise development and job creation for its teeming youths. Amongst other things, the education system is pivotal in preparing the 21st century African youth for the labour market.
As Dambisa Moyo stressed in her book Dead Aid, Africa needs more than ‘handouts’ in form of government-to-government aid which encourages irresponsible governance, it needs a commitment towards enterprise development and job creation for its teeming youths. Amongst other things, the education system is pivotal in preparing the 21st century African youth for the labour market.
Unfortunately, in
most of Africa where high population growth rates co-exist with low levels of
industrialization, tertiary graduates are products of a traditional management
education system, have inherent disadvantages with regard to work prospects,
hence susceptible to poverty. This is mirrored by the worrisome incidence of graduate
unemployment and underemployment on the continent.
The deficiencies of the traditional management education, an inheritance from colonial masters, to address Africa’s present labour market realities necessitates the entrenchment of entrepreneurship education.
The deficiencies of the traditional management education, an inheritance from colonial masters, to address Africa’s present labour market realities necessitates the entrenchment of entrepreneurship education.
In
a recent conference paper,
we conceptualize entrepreneurship education as a process that provides trainees
with knowledge, skills and attitudes necessary to create wealth for poverty
reduction and self employment. The inclusion
of entrepreneurship into the African education curriculum is perceived as an essential step
towards intimating enrolees with benefits of entrepreneurship and preparing
them for economic opportunities.
Entrepreneurship training programmes are designed to train individuals with innovative and creative enterprise skills required to identify business opportunities and initiate new ventures which can contribute to economic development and poverty reduction. In sum, entrepreneurship education contributes immensely to the development of the entrepreneurial spirit and is a fundamental driver of African economic development
Entrepreneurship training programmes are designed to train individuals with innovative and creative enterprise skills required to identify business opportunities and initiate new ventures which can contribute to economic development and poverty reduction. In sum, entrepreneurship education contributes immensely to the development of the entrepreneurial spirit and is a fundamental driver of African economic development
For instance, in
accordance with a directive of Nigeria’s Federal Ministry of Education, that
entrepreneurship education be a compulsory component of tertiary education
curricula, Nigerian higher
institutions have begun to develop entrepreneurship training systems.
Against this background, it is important for studies to evaluate the effectiveness of entrepreneurship education programmes vis-à-vis graduate entrepreneurial activities. While there are several studies that have examined effects of entrepreneurship education on entrepreneurial intentions of secondary and university students, there are fewer tracer studies that evaluate entrepreneurial activities post-graduation.
Against this background, it is important for studies to evaluate the effectiveness of entrepreneurship education programmes vis-à-vis graduate entrepreneurial activities. While there are several studies that have examined effects of entrepreneurship education on entrepreneurial intentions of secondary and university students, there are fewer tracer studies that evaluate entrepreneurial activities post-graduation.
Our
conference paper
focused on analysing the impact of entrepreneurship education on graduates of a
Nigerian University over a five year period, with a view to ascertaining the
impact of entrepreneurial training received on career decisions.
The findings of the study are instructive and provide insights on the contribution of entrepreneurship education to graduates’ entrepreneurship strategy as well as business risk, financial, marketing and human resource management skills.
The findings of the study are instructive and provide insights on the contribution of entrepreneurship education to graduates’ entrepreneurship strategy as well as business risk, financial, marketing and human resource management skills.
Going forward, like China,
African countries can show greater commitment to entrepreneurship and financial
intelligence by instituting related courses at every level of education, primary
to tertiary. This can help shape the mindsets of Africans away from just being
job seekers upon graduation to being job creators.
Furthermore, African countries can ensure pattern of admission into tertiary institutions is tilted towards filling identified manpower gaps in their economies. Like China, African governments and civil society must institute policies that promote and protect local brands, providing financial support when required.
On the whole, for entrepreneurship to thrive in Africa, there is need for a value reorientation in Africa towards making Africans patronize African brands, trade and invest more within Africa, thereby building formidable domestic capital and driving globally competitive exports.
Furthermore, African countries can ensure pattern of admission into tertiary institutions is tilted towards filling identified manpower gaps in their economies. Like China, African governments and civil society must institute policies that promote and protect local brands, providing financial support when required.
On the whole, for entrepreneurship to thrive in Africa, there is need for a value reorientation in Africa towards making Africans patronize African brands, trade and invest more within Africa, thereby building formidable domestic capital and driving globally competitive exports.
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