Reasons Micro & Small Medium Enterprise Fail

Description

The concept of entrepreneurship is one that has been in use for thousands of years now and even though it might have not been known as Entrepreneurship at the time, people were in one way or another, creating new businesses and engaging in several business dealings all to gain profit. Early entrepreneurial activities allowed people try to make something in exchange for something with this method, of course being practiced during a time when there was nothing like currency or money to use as a payment method.The word “Entrepreneurship” was coined from the French word, Entreprendre, which means “The Undertaker” or “The manager”. It is also believed that the word was derived from the French phrase, celui qui entreprend, which can be translated as “those who get things done”. From these meanings, it is clear that at the time, people saw entrepreneurs as individuals who take serious role in the creation of a business. They manage and put efforts into getting all necessary things done to help achieve or boost their chances of success.Entrepreneurs, however, are individuals who start up an entrepreneurship venture. They are the brains behind the operations put in place to ensure a new business is formed. They come up with ideas and start, however small, businesses birthed from these ideas. Early entrepreneurs were people who traded things and also thought of ways to bring a solution or solve a problem in their community at that time. In the subsequent paragraphs, I’ll discuss the history of entrepreneurship generally and a brief look at the history of entrepreneurship in Nigeria.