International Competition and Entrepreneurship Development in Nigeria

This study examines the influence of international competition on entrepreneurship development in Nigeria. Specifically, the study seeks to ascertain the effect of international competition, foreign direct investment, per capita income, technology, foreign aids, market size, poverty alleviation and employment generations on entrepreneurship development in Nigeria using an econometric regression model of the Ordinary Least Square OLS after determining stationarity of our variables using the ADF Statistic, as well as the cointegration of variables using the Johansen approach. It was discovered that the variables are stationary and have a long run impact relationship with entrepreneurship development in Nigeria. From the result of the OLS, it was observed that apart from per capita income and market size that are not significant, every other variable international competition, foreign direct investment, technology, foreign aids, and employment generation significantly influence entrepreneurship development in Nigeria. Based on the above findings, the study recommends that the government should focus on formulating polices that will address the challenges of international completion as it affects entrepreneurship development in Nigeria by vigorously protecting domestic investment. The government should also strive to improve on key factors that help entrepreneurs to thrive by addressing the problems of infrastructural decay, especially the issues of power supply and access to finance. Government needs to urgently address the dilapidated infrastructural facilities in the country, like roads, railways and provide adequate security to promote entrepreneurship in Nigeria. Anionwu Carol "International Competition and Entrepreneurship Development in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23569.pdf Paper URL: https://www.ijtsrd.com/management/marketing-management/23569/international-competition-and-entrepreneurship-development-in-nigeria/anionwu-carol