Poverty is one of the greatest problem facing humanity and not just under-developed countries as usually purported. Poverty is directly related to many other global problems like disease epidemics, crimes and even wars and conflict situations.
Before now people have though the foolproof strategy of getting out of poverty is formal education. This solution seems short and straightforward; go to school and acquire the best grades and thereafter get a good job with handsome pay. Decades have rolled by, many have gotten formal education but the world poverty level is continually on the increase. Schooling has turned out not to be the ‘magic wand’ that can readily deliver the goods.
Nigerians surely do not need an epistle on the inadequacy of formal education to lift them out of poverty. The level of unemployment in Nigeria in the current decade is alarming and even many of those who are employed are under-employed. This situation has necessitated a paradigm shift from dependence on ‘white-collar’ jobs to ‘entrepreneurship and enterprise development’
Enterprise development is about perceiving opportunities for profitable commercial deals and capitalizing on it with the intention of wealth creation. It is about developing products and services that are highly marketable and can be exchanged for money or money’s worth.
It is important to note that enterprise development is not about engaging in business for the sole purpose of survival or making ends meet. Rather, it is about wealth creation that can guarantee financial freedom.
Beneath are five good reasons I have listed why enterprise development is an imperative:
- Formal education does not guarantee good and sustainable employment
- No regular paid job is permanent
- Enterprise development helps to develop multiple streams of income
- Entrepreneurship give a feasible opportunity to attain financial freedom and not just financial security
- Enterprise development gives opportunity to positively affect people’s lives and contribute to significant community development.
In the next edition, I shall share some insights into the necessary ingredients for successful enterprise development.
By ADISA OLUDARE
