Prof. Kenneth, Amechi and Okoro, Chineme Blessing (2023) Entrepreneurship and Innovation - The Basis for A Global Economy in Recession. Innovations (75). pp. 222-237.
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Abstract
Entrepreneurship, with its focus on opportunities, is often seen as one of the foundations of poverty alleviation. This paper, therefore, seeks to discuss entrepreneurship and small business as the bedrock in the global economy in recession. One of the factors that influence the economy of a nation, either directly or indirectly. It is a fact that entrepreneurship plays a significant part in shaping the landscape of a country’s economy. Economists and policy makers recognize this fact. Entrepreneurship is the engine of economic growth and it has come to be perceived as a catalytic agent for expansion and promotion of productive activities in every sphere of economic life all over the world. This research focus on finding out how entrepreneurship influences the global economy in recession. The main objective of this paper is to show the significant of small business impact on the global economy in recession. It is, thus, reasonable to contend that entrepreneurship is instrumental to unlocking economic growth, create employment and reduce poverty. The paper further examines some of the challenges faced by entrepreneurs and small business to global economy in recession. Secondary source of information was adopted and a qualitative technique that focused on conceptual exploration, theory and critical analysis of empirical studies. Qualitative method that provides relevant information were used. Data were collected through books, journal and internet. The paper concluded that SMEs are the largest employers of labor and wealth creation. SMEs provide employment, eradicate poverty and help in developing entrepreneurial activities. Lastly, recommendation has been offered to boost SMEs developments in economic recession.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HC Economic History and Conditions |
| Divisions: | Faculty of Management and Social Sciences |
| Depositing User: | mrs chioma hannah |
| Date Deposited: | 22 Apr 2024 09:08 |
| Last Modified: | 22 Apr 2024 09:08 |
| URI: | http://eprints.gouni.edu.ng/id/eprint/4262 |
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