ENTREPRENEURSHIP AND SMALL BUSINESS - THE BEDROCK TO A GLOBAL ECONOMY IN RECESSION

Okoro, Chineme Blessing and MADUEKE, Daniel (2020) ENTREPRENEURSHIP AND SMALL BUSINESS - THE BEDROCK TO A GLOBAL ECONOMY IN RECESSION. In: The 1st Online International Conference Themed: Exploring Multi-Sectoral Responses to a Global Economy in Recession, 26th-27th August, 2020.

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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. The literature review was comprehensive and aligned to the research questions. 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:	Conference or Workshop Item (Paper)
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Faculty of Management and Social Sciences
Depositing User:	mrs chioma hannah
Date Deposited:	09 Sep 2020 15:10
Last Modified:	09 Sep 2020 15:10
URI:	http://eprints.gouni.edu.ng/id/eprint/2626

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