Causes And Implications Of Insecurity On Entreprenuarial Development And Small Business Operations In Nigeria: The Panacea
Eunice Chidimma Okpalaojiego Ph.D
Department of Economics, Godfrey Okoye University Thinkers Corner, Enugu
Keywords: Entrepreneurial development, Insecurity, Small businesses operations
Abstract
This paper examines the causes, implications and panaceas for insecurity on entrepreneurial development and small business operations in Nigeria. Using survey research design and well-structured questionnaire, a sample size of 380 was drawn from a population of 8000 entrepreneurs and businesspersons in Orlu local government area of Imo state Nigeria using random sample technique. Analyzing the data using mean-score average, the researchers discovered that bad governance/policies, economic imbalance/marginalization, ethnic /religious imbalances are factors causing insecurity problems in Nigeria. Others include poor / weak security apparatus, porous borders and arms proliferation, unemployment/poverty, political motivated insecurity, loss of traditional value and moral system. The implication of these findings simply revealed that if appropriate action is not taking by the government, the economy will suffer serious underdevelopment, brain drain, winding up businesses, poverty, hunger and unemployment which will create an avenue for relocation of businesses to safer countries and youths employing themselves in criminal activities like kidnapping, banditry, unknown gunmen and armed robbery. The researchers therefore recommended among other things that the panaceas to these treats include restructuring of Nigerian economy, reviewing of 1999 constitution, observing the rule of law and establishment of community policing. Others include provision of adequate infrastructures, moral and technical educations and financial assistance to promote entrepreneurial and small business operations in Nigeria