ENTREPRENEURSHIP: FUNDING AND FINANCING STRATEGIES IN NIGERIA (Published)
The contribution of entrepreneurship in the economic development cannot be over-emphasized nor should be underestimated for any reason as this is already a known fact that it plays a prominent role as a change agent and as a prime mover of economy. In developed, developing or underdeveloped economy, the essence of entrepreneurship is highly significant as this exist in both private and public sectors of any economy. The roles of enterpreurship are worldly acclaimed but yet as laudable as these roles there can be no significant success by any entrepreneur except with availability of finance. Nevertheless, mere availability of finance also cannot guarantee the success of an enterprise but there must be in place appropriate financial strategies for the funding/investment needs of an enterprise. Using secondary data, this paper examine various options of funding/financial entrepreneurs today. It establishes financing alternatives that are best suited to financing needs of small scale enterprises which is clearly differ to that of large scale enterprises.
Keywords: : Enterprises, Entrepreneurship, Finance, Strategies., Success
Entrepreneurship in Nigeria – Funding and Financing Strategies (Published)
The contribution of entrepreneurship in the economic development cannot be over-emphasized nor should be underestimated for any reason as this is already a known fact that it plays a prominent role as a change agent and as a prime mover of economy. In developed, developing or underdeveloped economy, the essence of entrepreneurship is highly significant as this exist in both private and public sectors of any economy. The roles of entrepreneurship are worldly acclaimed but yet as laudable as these roles there can be no significant success by any entrepreneur except with availability of finance. Nevertheless, mere availability of finance also cannot guarantee the success of an enterprise but there must be in place appropriate financial strategies for the funding/investment needs of an enterprise .However, little has been said when it comes to strategies needed to access various sources of finance. Using secondary data, this paper therefore establishes appropriate strategies to obtain funds from sources of finance by both small and medium enterprises.
Keywords: : Enterprises, Entrepreneurship, Finance, Strategies., Success