Entrepreneurship Education: Panacea to Poverty Alleviation and Human Capital Development.

‘Tunde Clement Oyinlola Managing Director/CEO, SCAD Royal Ventures

E-mail: adeoyin1@yahoo.com, adeoyinlola2010@gmail.com

ABSTRACTIt is globally acknowledged that entrepreneurship education serves as a mechanism and purposeful vehicle at arresting poverty and empowering the social-economic development and growth of worldly nations. It unveils macro-economic objectives in the area of employment generation and evidently development of entrepreneurial talents. This research examines the efficacies of entrepreneurial education a purposeful vehicle for the sustainability of Nigeria economic development; it reflects the needfor training of would-be entrepreneurs as a catalyst for human capital development in Nigeria. It examines various businesses that can be undertaken with little or no capital outlay for such startups. It depicts the relationship between innovation and entrepreneurship and how has innovation contributed immensely to human capital development. It highlights how Federal Government of Nigeria has been hell-belt at launching entrepreneurship education into Nigeria academic curriculum at all levels such as Universities, Polytechnics and colleges. It also examines problems undermining the rapid growth of entrepreneurial activities in Nigeria. This study reflects the impact of entrepreneurship education on poverty alleviation and human capital development in Nigeria.

Keywords: Entrepreneurship, entrepreneur, innovation, creativity and economic re-engineering.

INTRODUCTION

This research work emphasized entrepreneurship education as a

catalyst for poverty alleviation and human capital development.

It is functional vehicle that arrest unemployment among Nigeria

teeming jobless graduates, social vices and enhancing national

security. Undoubtedly, education is the bane of any thriving

economy, as it offers wide range of technical-know-how and work-

force for a productive economy to stand. It provides platform for

self-reliance, autonomy and independence while steering a startup

that grows big in n far time depending on commitment and

dedication.

It is globally understood that, education is critical to human

resources development, instilling of basic skill acquisition and

knowledge on how things are done. Many books have lend credence

to entrepreneurship education that, it gave birth to self-

reliance and development, wealth creation or generation and value

re-orientation are guaranteed through efficient educational

system which impart relevant skills, knowledge, capacities and

culture.

Before I start reflecting on the above captioned, I will like to

identify so many variables such as, entrepreneurship,

entrepreneur, development and entrepreneurship development that

are critical to the chosen topic. Many people are inundated by

the word “Entrepreneurship”; it is seen as strange course of

study or nomenclature in the field of academy, which I have

recently considered a MUST to dissect for clarity and wide-

readership! Entrepreneurship is increasingly considered as an

important driver of economic growth, productivity, innovation and

employment, and it is globally accepted as a key aspect of

economic dynamism.

Is Entrepreneurship synonymous to Business management? If I went

round and ask so many people this question, the response I would

get from honest 85% respondents will be YES. This is misleading!

It is better we diffuse an analytical theory of Entrepreneurship,

for it unveils rudimentary reflections of entrepreneurship at

harnessing resources, effective rational allocation of limited

resources optimally and exploiting same for the survival of

individuals and the economy. Entrepreneurship is a process of

creating wealth by converting inputs into output. Many scholars

have submitted that, it is a process in its entirety that

involves one in a business activity that results to self-reliance

and independence. Though, it is universally agreed that, it is a

process that lead into another process which is seen as

continuum. This is not sufficient enough to unveil what it

intends and what implication it might have on the economy!

But it is defined as the process of diffusing initiative to

transform a business concept into a new venture or grow and

diversify an existing business or enterprise with high growth

potential. The most obvious is starting new business called

startup. When an activity is described activities within a firm

or large organization, it is called intra-preneurship which may

involve corporate venturing, when larger entities spin-off

organizations. To many people, it means different things with

varying conceptual perspectives. Despite contradiction and their

varying conceptions, they were opinionated on risk taking,

creativity, independence and rewards.

Development is a process of growth, progress and improvement

within a physical setting and environment. So, it is a gradual

growth of something so that it becomes more advanced and

stronger. Entrepreneur is a person who makes money by starting or

running business which involves risk such as financial and

operational associated risk. He is one who searches for business

opportunities, explores it and makes it a bigger venture, self-

sustaining and profit-driven. Entrepreneurs fuel innovation by

developing new or improving existing products, services or the

processes. New technologies and their applications enhance the

growth of new firms and improve the efficiency and productivity

of existing ones. Summarily, he is a resources converter! They

are bent on creating values, independent; to add value to family

and society- social entrepreneurship- to become rich and employer

of labour as the business grows.

How it became a Panacea?

Global conception of entrepreneurship programme is critical to

its roles in the economic development over decades ago. It is

noteworthy that, the scarcity of dynamic and potential

entrepreneurs that can consolidate idea together to grow the

market, the economy and stimulate employment. Entrepreneurship

development is a process of enhancing entrepreneurial skills and

knowledge through structured training and institution-based

programmes.

This programme was adopted and christened by Federal Government

of Nigeria, having conceptualizing the role it plays in off-

shooting the growth and development of the economy. Firstly,

entrepreneurship education was made general studies course for

all undergraduates of Nigeria tertiary institutions. She further

effort that centre for entrepreneurial development be established

in all tertiary institution for skill acquisition on major

startup endeavors. This aims at ensuring that graduates of

tertiary institutions are incubated to set up their own business

as a way of contributing to the economy. It focuses on individual

who might want to start or expand a business. It hinges on growth

potential and innovation.

Entrepreneurial supporting Businesses:

Entrepreneurship is a practical involving degree programme in the

Nigeria University. Practical and skill acquisition are

essentials throughout the completion of the four years degree

programme. In fact, it is sine qua non for Entrepreneurship

student to undergo six months Student Industrial Training with

close supervision by their lecturers who go after them on the

field to ensure compliance. There are several thousands of

trades, works and jobs one could learn and that will translate to

startups. Yet, many people have not found out the relevance of

the course to the development of national economy and human

capital development. The recent research undertaken shows, even

if Federal Government establishes 100 industries today, it will

not yet unravel Nigeria ballooned population that keeps

increasing at a geometric rate. It suggests that, Nigeria

population can only be sustained through diffusion of

entrepreneurial trainings, seminars and workshops for those on

the job to sustain them at retirement age. No doubt, it will

reflect on their quality of life at retirement age! No knowledge

is a waste, rather energizes one’s creativity and innovativeness. Mat Weaving

This is a business commonly found among aged women in the old

western regions, say Ipetu Ijesa, a town bisected by Federal

Highway that leads to Abuja. The ancient town was known for mat

weaving to satisfy domestic and social need. Those days, it was

an intriguing one with passion. People trekked miles for mat

transaction on market day. Now, this generation had considered

same flourishing trade/undertaking as barbaric and oldies. It

strikes me sometimes when I perused at trades that our ancestors

had survived it, now degenerated by western education and

European exposure. Even if we felt agonized with the traditional

method applied then, I would want to believe technology had

simplified a whole process into a modern fashion. It is another

area that beckons us for opportunities to fail forward in life

and add value to ourselves and the economy hence fostering wealth

creation.

Agripreneurship

Agripreneurship is another area that sounds entrepreneurial in

outlook. Though, it requires technical know-how for

sustainability. It is an agricultural activity and aspect of

Entrepreneurship which cut across animal husbandry, poultry

farming, crop production, fish farming and agro sciences. Farming

is very good, for it exercises the body and enhances food

supplication for the healthy and quality of life. Many young

graduates see farming as a bad job, still hoping it is for the

hopeless and disgruntled elements. Such assumption has reduced

their insight and prospect for better days to come their way. It

is misconceived! Recently, a well documented research revealed

that, many young graduates have subscribed to poultry management

as a result of frustration meted on them by the situation in the

Labour market. Now, they are doing very fine and better than

their contemporaries on paid jobs elsewhere. Although, it evolves

challenges and risk, it is unraveled as improvement is recorded

by persistently and consistently evaluating the major in-roads

and daunted challenges. All businesses are prone to risk; they

are managed for business survival.

Distillery Business

It is a flourishing business to behold. It is born out of the

perceived need of the society to satisfy. It involves a process

of brewing strong alcoholic liquors such as whiskey, vodka and

gins. This is another traceable business undertaking of our

forebears who did very well in it. But such business discontinued

shortly after their demise, which if it continues till date might

have received modern innovation to compete with imported

wines/gins. In the ancient town of Erin Oke where I come from, it

was a business for men in those days. The first renowned

wine/gin brewer and distiller in a whole western region decades

back was Baba Erin who innovated it, brewed for household use and

consumption. It sells, it carves a niche in the market hence

increased its market share.

History had it that, this new express way was never constructed

at the time he started his brewing business. So, people used to

travel through the old roads in the 60s, 70s before the

commissioning of the major highway constructed by SinneBonnie

Construction company. All travelers love to have a stopover at

Erin Oke to buy Baba Erin Wine/Gin then. Today, this business has

gone into extinction without creativity of reactivating the idea

and survives it to profitability. Someone can deem it fit to

venture into it. JABU has a skill acquisition centre where people

are trained various business ranging from bead making, snairy,

fishing farming, bread baking and piggery etc. It is an

indisputable reflection that, wine and gin have dominated Nigeria

market despite campaign by Federal Ministry of Health that it is

harmful to the liver, yet it records aggregate demand. So, it

will be worth undertaking if young graduates can swing into

action and start one to cushion the effect of over-concentration

on white colar-job. It requires little or no capital outlay for

the startup!

Dry Cleaning

It requires nothing, but mind preparedness and self-motivation to

proceed. Self-readiness and motivation make an entrepreneur

successful. Idea incubation is primary, followed by consistency

that will unveil the business plan. Feasibility study shows it

requires not more than 2 persons at a start; it increases as the

business grows. This business was anchored by our aged parent in

those years back; it was called “ALAGBAFO” meaning those who help

us do our laundry. They do it with zeal, passion and commitment.

That helps it grow without disruption! Whatever we do with

passion and zeal, we will make result out of it. So that is what

business demands of us. Many homes are struck by poverty, many

graduates are bedridden by psychological and joblessness because

they have decided to jettison not to be creative and innovative.

The question lingers: what can I be doing to be self-sustaining

rather than scouting for jobs in the air? What value am I adding

if I get going with a startup? Where will I be in the next five

years? Does big businesses started small? Where am I starting one

now? What do I need to break the ground? With all of this, it

suggests that we can get over worries of unemployment, poverty

and even won jinx of dependency/reliance on our old parent at

40years. Dry cleaning service is a profiting business, yet

requires our patronage which turns to a big business in no far

time. Our youth are challenged to subscribe to entrepreneurial

skills and efficacy.

Car washing

This is predominantly a business that thrives well in the recent

time which requires little or no capital for startup. Despite the

risk businesses involved, car washing business is neither prone

to any form of risk nor likely short-lived by any external forces

that may hinder its existence or growth. Car washing is usually

situated close to the flowing streams/rivers. One may choose to

adopt water tank connected to public water supply so as to

enhance such business survival. It does not require much

training for a start, it just require you a borehole or dig a

well which will enable you free flow of water to clean wash your

customer’s car. Pumping machine is instrumental to this

undertaking, as no amount of water could be manually fetched to

do this business. Also raised platform, brushes, hose and towels

are needed. In order to enhance patronage, excellent service

delivery is inevitable to achieving these feet. A consistent and

efficient operation of car wash business is futuristic, in that

it gives an opportunity of expansion which, in no doubt, measure

up with economy challenges.

Sometimes, it looks seasonal. Car wash business triumphs well

during raining season more than in the dry season. Because it is

used to be muddy and rough, many car users will deem it fit to

clean wash their cars. Evidently, private cars are driven by

owners who sometimes do not have the time to wash their cars.

Even the commercial vehicle drivers subscribe to car washing

services if one is available around them. This curtails idleness

and unemployment hence improves the quality of life and making

living worthwhile. No matter the case, one can begin earning a

living through this business opportunity. It cushions the effect

of poverty among our teeming jobless graduates and keeps up the

pace of human capital development through which future leaders

are refined for leadership task and roles.

Soap Making

Soap making is born out of the need to satisfy an identified

societal problem which could either be shortage in supply or the

need to recycle what is considered a waste to an economical

products. It is believed that, soap is made from the waste of

palm kernel oil. This waste used to be discarded after extraction

of edible vegetable oil. But, waste management and minimization

theory unveiled the usefulness of this waste for soap making

which has turned to a conduit of earning a living among our young

graduates today. Sooner or later, it becomes a medium scale

business because the soap industry would have dominated market

hence increased aggregate demand which result to hiring work

force. Proper planning is very critical to business survival or

failure. That makes an entrepreneur different from a business

administrator. Entrepreneur establishes a business, sustain it,

survive it through strategic policies that are benefitting to the

business. He takes and manages risk proficiently! He is creative,

innovative, forecasting and projecting into the future while

business administrator is concerned about profit maximization.

Photography

This is entrepreneurial indeed. It is a startup that requires

little or no capital and can be undertaken on either on full time

or part time basis, also on large or small scale basis. There are

many events that people may want to commemorate as a remembrance

or fresh functions like funeral, wedding, birthday, house

warming, naming ceremony and various festivals and occasions.

This requires the photographer to have his/her on ground for the

celebrants for lobby, which gives you an edge over late comers

for same job. Most cases, it is advisable to get a camera that

gives instant photographs, as many of the invited guests will

have to travel back to their various destinations. So wait and

get camera improves your service delivery hence increased your

income.

While endeavor to snap people, it is better you seek guest’s

consent before you advance a shot, as many of them may refuse

payment after print out of photograph. For you to carve a niche

in the business, you are required to look out for an automatic

and autofocus camera that produces very sharp pictures. This

makes so many people patronize your business, for it evolves

excellent and quality jobs that arrest your admirers. Photograph

enlargement could be another source of earning for you, if you

can convince your customers to enlarge those photographs you have

considered beautiful.

It suggests that, if you are very smart enough in the business,

you can make so much money that increases your tendency of

business expansion from small one to bigger one. At that, people

would have known you for offering a very good job, this I think

will make them keep patronizing you and bring their friends and

relatives to have taste of your excellence. This is another area

where entrepreneurship is value-adding to human capital

development and also to alleviate poverty among our teeming

population.

Cooking food for party

This is a common business that sells faster than any other

business ventures because it is consumable. It depends on

expertise. If you can cook very well, that informs your venturing

into this business. Alternatively, you may organize people who

can cook very well; it gives you an outstanding edge especially

when it involves arranging food for group of people, a party or

any forms of occasion. In African setting as it were now, many

celebrants ease themselves the stress of monitoring pots, plates,

spoon or even cooler at the party, they rather contract

everything to a cook who does the cooking and just bring it to

the party for serving.

Sometimes, the celebrant may avail you all the cooking items

which may demand you of charging for your labour. It may be

charges per plate while you may be asked to buy all the needed

ingredients yourself which requires you to do careful costing of

the materials for the cooking in such a way that it will be

mutually benefitting. The equipment you need is; cooking pots,

plates, knives, forks, spoons etc. Inability to have all of this

may trigger you to go on rent.

Whatever you are charging your clients, must be fair and

moderate. Do not give a stay-away pricing; it makes customers run

away hence it hinders customer’s patronage. Always seek deposit

for commitment which must cover the cost of ingredients and other

materials needed while final payment must be enlisted on

agreement on same day or next to forestall default. If this is

fairly managed, it will fetch you so much money that marvels you

afterwards!

Running a Barbing Salon

It starts small most especially among students while on campus as

a means o f their survival. It requires bit of training if one

wants to become a professional barber. Mostly started with

scissors, blade combined with comb by students, some of them

learn this from friends and relatives who charge them no training

fees at all. The training involve is neither technical nor

strenuous; it only ask for calmness, concentration and dedication

which could be learnt couples of weeks, say 3 weeks. In the

recent time, many families opt for family barber who renders home

service whose charges is higher than service render at their

shop.

However, it is capital friendly because it requires little or no

capital for its startup. It requires clippers, scissors, shaving

knife (Old tool), set of comb, sterilizers (to heat the tools) to

curtail infections, fans (either ceiling fan or standing fan),

big wall mirrors and chair. It thrives well if your shop is

situated in an accessible location where customer needs not

travel miles for a cut.

Then, ensure you have current catalogue of different hair style,

as many people choose their hair style they so desired. Adults of

nowadays cut their hair often say three times in a month, while

children patronize seldom. Hygienic environment attracts

customers upon which you can leverage on. Those with

entrepreneurial mind usually put intriguing games to win guys

such as snookers, Cheese, Scrabble and Ludo to actually make the

business environment lively; it is used to keep those in queue

busy/engaged while waiting for their turns. This attraction adds

value to the business by way of patronage which turns to

increased sales. As the business grows, it may undoubtedly call

for more hands, stylist may be adopted on either wage/salary, as

the case may be. This concept was birthed and christened by

entrepreneurial philosophy; it is simply a cool business and

self-sustaining startup. Leveraging on this will give you profit

and win more customers. You can conveniently make an average of

#1,500 per day, or even higher if it falls weekend preparatory to

new week.

Issues and Reflections:

It is imperative to understand that, the spate of youth

unemployment , decay in our polity and skyrocketing poverty level

in Nigeria have given rise to government campaign of

Entrepreneurship programme on various social media and national

dailies for enrolment by many of our teeming jobless graduates

roaming the streets aimlessly in search for jobs that are not

available. This situation in our nation is critical; it unveils a

serious matter and timely intervention of government policies

that pave way for the development of small scale businesses in

Nigeria. The sizeable number of creative and innovative graduates

will do far better at creating values that will affect our nation

economically, only if the business environment is made conducive

and business friendly.

It is noteworthy that, creativity and innovation are essentials

of Entrepreneurship development in Nigeria. This is

incontestable! Researchers have shown the economic impacts of

Entrepreneurship at arresting the ugly spate of unemployment in

Nigeria which increases at geometric progression. It calls for

palliatives to put a check on it, while further efforts are

rolled out for eventual re-engineering of the economy that allows

for self-reliance ventures rather than eyeing white cola-jobs.

Early 80s, the state of the economy was promising and assuring,

young graduates were head-hunted at 300 Level for jobs, they

choose among myriads available to them. They were job choosers;

neither were the victims of job hunting. It suggests that, the

economy was well structured and fine-tuned to meeting the

perceived needs of highly populated Nigeria. The mainstay of our

economy back then was Agriculture which did us proud among

nations in African countries. Industries thrive to compete in the

world market; infant industries were shielded through imposition

of administrative policies that restricted undue importation into

the nation.

Petroleum discovery- clogs to innovative and productive economy.

It is an indisputable fact, but further efforts to re-invent

Agricultural sector will restore the seemingly lost glory of our

economy to normalcy. Agriculture will ultimately guarantee jobs

for our teeming jobless graduates who are unduly under-utilized

in the Banking sector. They are arbitrarily sacked, terminated of

same unpromising jobs- for not meeting the arbitrary target

saddled with them. However, the labour market is congested and

populated with able-bodied men and women who are brilliant,

innovative and creative enough to harness opportunities within

their purview for survival and molding self business empire! But

they have retired to fate of scouting for white-colar job which

is not guaranteed as the future proceeds now.

Very impressing indeed, for Federal Government had succeeded at

entrenching Entrepreneurship as a course of study into the

academic curriculum of all tertiary institutions in Nigeria. It

was widely acknowledged as a further move to undo this ugly trend

in our polity. Even, it has been christened in state tertiary

institutions as well. It is a good footing indeed! We are

gradually meandering to the dream land just like China started

such revolution decades ago. I know, we are getting there very

shortly, as orderly efforts are initiated and sustained to

achieve this standard.

How Entrepreneurial mindset leads to innovation?

People with entrepreneurial mindset have reserved interest for

innovation because entrepreneurship reflects pivotal roles that

drive innovation. It is observed that, the public sector, the

private sector, academia and the non-profit sector have

magnificent role to play at stimulating creation of an

entrepreneurial culture, developing attitudes and skills that

encourages and support creation of innovative ventures. The

factors necessary for the relevance of entrepreneurship are

closely elaborated here below:

Culture and Attitude towards entrepreneurship:

It is pertinent to know that culture and environment is critical

to business survival; it encourages favorable practice of same in

devoid of any sort of deterrent. It does not reflect any positive

image in many countries. Rather, Government policies promote such

entrepreneurial mindset through entrenching it into their

educational system. However, some of these policies take a long-

term perspective, for culture is subject to change over time.

Research reveals people’s perception of entrepreneurial

opportunities to be high across countries, although they have

dropped drastically premised by economic meltdown and crises

globally. However, people’s yearnings for startup have declined

intention due to fear of business failure.

Unarguably, people with skills, creative mind and attitudes are

more entrepreneurial inclined in their professional endeavors, by

way of floating their own companies or showcasing innovation on

the existing ones. It is demanding to develop such skills,

mindset and attitudes at all levels of formal education and

throughout lifelong learning. This includes building self-

confidence, self-efficacy and leadership skills. Entrepreneurship

education helps change the mindset of young people about

entrepreneurship and encourage them to consider it as a possible

path to future sojourns.

Entrepreneurship education policy

Global economy is plagued by economic recession; all purposeful

vehicles for economic growth and development are virtually

incapacitated to bail out, yet this concept is alive to achieve

full academic credibility. Entrepreneurship is a double blessing-

it has pros and cons. It is overwhelmed with challenges and

opportunities depending on the perspectives of different nations.

Yet, there has been no strong evidence linking academic programme

to entrepreneurship outcomes, and securing the nods of heads of

academic institutions as well as government is important to

further incorporate entrepreneurship as a course of

study/programme in education system.

Generally, entrepreneurship education requires experimental

learning, leveraging on critical thinking and problem solving. It

is an enviable fact that, it should be interactive, encouraging

student to experiment and practice and working on

entrepreneurship through case studies, games, projects,

simulations, real-life actions, internships with start-ups. This

guiding material should be local materials, role models. It

should be linked with practice, and educators should be

encouraged to reach to business community and integrate same into

learning process.

While entrepreneurship education is crucial at educational

levels, Universities play a pivotal role by helping student to

learn not only how to start a business but also how to expand

business/enterprise. It has received an overwhelming attention

from different nations of the world decades ago. This is not

restricted to business and/or for business students. It is useful

in all sectors of the economy. This suggests the need for

curriculum development, training and development of

entrepreneurship teachers, research collaborations.

Human Capital as an off-shoot of innovation!

Young entrepreneur generates necessary ideas and knowledge, and

the technologies, products and services that it may generate, in

the work place and as consumers. Empowering people to innovate

requires not only formal or relevant education but also wide-

ranging skills that complement formal education. Early primary

and secondary education lays the concrete foundation for

individual’s ability to work in an innovation-driven society.

Universities, Polytechnic and colleges are purposeful vehicles

for creativity and innovation system, as they produce and

stimulate the human capital required for innovation. Vocational

education or training play an indisputable role in innovation, it

helps firms make incremental changes to production processes and

adopt technologies, and by lifting the overall capacity to

innovate. Moreover, the acquisition of skills is a lifelong

process; it does not end with formal education. Entrepreneurial

training, skills and education is a continuum!

Tunde Clement Oyinlola

HND (Bus. Mgt), B.Sc (Entrepreneurship), MBA (Marketing), ACE, F,

cfia, M.AES