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Entrepreneurship, Growth Drivers, and Economic Development: The Roles of Small-Medium Enterprises (SMEs) in Sustainable Development in Nigeria

Author

Listed:
  • Ayodeji Bamidele Owoeye

    (Royal Agricultural University, Cirencester,United Kingdom)

Abstract

Entrepreneurship development is often regarded as a key driver of economic growth and long-term development in any given economy. This research examined the influence of entrepreneurship development on the Nigerian economy, as well as how to implement particular principles and get the greatest results for long-term growth. The results show that entrepreneurship makes a significant contribution to job creation and economic growth. The study found that entrepreneurial development inevitably results in employment creation, which leads to economic development. As a result, Nigerians should take advantage of the many economic possibilities available to them; likewise, the government and other institutions should focus their efforts on the purposeful growth of entrepreneurship.

Suggested Citation

  • Ayodeji Bamidele Owoeye, 2025. "Entrepreneurship, Growth Drivers, and Economic Development: The Roles of Small-Medium Enterprises (SMEs) in Sustainable Development in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(5), pages 6518-6531, May.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-5:p:6518-6531
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    References listed on IDEAS

    as
    1. Kevin T. Jackson, 2016. "Economy of Mutuality: Merging Financial and Social Sustainability," Journal of Business Ethics, Springer, vol. 133(3), pages 499-517, February.
    2. C. Praag & Peter Versloot, 2007. "What is the value of entrepreneurship? A review of recent research," Small Business Economics, Springer, vol. 29(4), pages 351-382, December.
    3. Michael Schaper, 2002. "The Future Prospects for Entrepreneurship in Papua New Guinea," Journal of Small Business Management, Taylor & Francis Journals, vol. 40(1), pages 78-83, January.
    4. Anderson, Alistair R. & Miller, Claire J., 2003. ""Class matters": human and social capital in the entrepreneurial process," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 32(1), pages 17-36, March.
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