• ISSN: 2155-7950
  • Journal of Business and Economics

Entrepreneurship and the Nigerian Cultural Context

Olajumoke Adeosun-Familoni
(Lead City University, Ibadan, Nigeria)
Abstract: Cultures that have embraced the concept of entrepreneurship and nurtured those with the traits have seen tremendous progress and development. The economic vitality in these nations have been noticeable, as they are described as the developed world, the capitalist world, and the first world and so on. While those who have not tapped into it, are those called the emerging nations, the less developed world or the underdeveloped world and even the third world are gradually understanding the importance of encouraging entrepreneurship. The paper explores the impact of culture in nurturing entrepreneurs in Africa with a reference to Nigeria, and how culture plays a part in shaping entrepreneurial tendencies. The paper concludes by proffering strategies for cultures to embrace entrepreneurship to ensure the economic vitality of nations.
Key words: entrepreneurship; small businesses; culture; development
JEL codes: M1, L1, L2

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