ENTREPRENEURSHIP AMONG STUDENTS IN TERTIARY INSTITUTIONS.

Entrepreneurship is not a new language to everyone in every field of study. It is present at all professions such as Accounting, Banking & Finance, Medicine, Engineering etc. It is quite different from being a businessman.
Entrepreneurship is the state or quality of being an entrepreneur.
An entrepreneur is quite different from a businessman, an entrepreneur is someone who innovates, invents something unique that can solve the problems of the society and in this way makes profit from this innovation by marketing it to the society.
An entrepreneur is someone who creates ideas and talents to woo the society. But a businessman is someone who engages in trading activities purposely to make profit. He is not after satisfying the needs of people but his major target is profit maximization.
    
      WHAT DOES IT TAKE TO BE AN ENTREPRENEUR?

There are certain requirements needed to be met for anyone interested in becoming an entrepreneur. Most people fail especially in their businesses because they lack what it takes to run a business successfully. The following are the entrepreneurial requirements:

   1. CAPITAL : This consists of two major requirements. These are:
a. Immaterial Capital: This include:
  i. Passion: A entrepreneur must have passion towards his business. People at times think the financial capital I.e cash is the start-up to a business but the fact is, your passion towards the business you intend to do or your talent which you wish to turn to profit, is the best start-up.

  ii. Intelligence : For an entrepreneur, you have to be intelligent and smart. Even if your have one million naira to start and run a business, you have to also put in your initiative, intelligence and smartness. If an entrepreneur lacks this, even if he over a million naira, he will lose everything to the business.
To prove this, there are people who started their multimillion naira businesses with low capital which was as low as #1000. Some people started with #500. The point here is that with these people did not put in only cash into their businesses, they also employed intelligence into their businesses.

b. Material Capital:  This includes material assets like cash, and all other tangible assets in putting a business into existence.
  
        CHALLENGES TOWARDS ENTREPRENEURSHIP.
1. Insufficient cash to start business.
2. Existence of numerous competitors at the market.
3. Lack of entrepreneurial skills and abilities.
4. Fear of taking risks.
5. Business failures.
6. Lack of proper formal education of some entrepreneurs.
7. Location.
     
           SOLUTIONS TO THE PROBLEMS OF ENTREPRENEURSHIP.
1. Parents should give financial support to their children who are passionate about entrepreneurship and they also give them advice on how to run their businesses successfully.
2. The problem of competition can be solved by developing better strategies that can make one's business gain advantage over other competitors.
3. Entrepreneurs with inadequate skills should take their times to learn by attending lectures, summits and conferences relating to entrepreneurship.
4. Anyone with inadequate entrepreneurial skills and abilities should first get a job and work as an employee for some years in order to have the experience and ability to manage a business.
5. Before taking a risk, there should be a careful assessment of an investment or business so as to avoid loss on investment and at the same time, an entrepreneur or investor should avoid putting all eggs in one basket I.e he/she should not put all his or her resources into an investment. He/she should rather divert on invest into many business investments.
6. Engage on a research in order to get locations or areas where your services are needed.
 
        BUSINESS SECTORS THAT YOUNG/ STUDENT ENTREPRENEURS CAN INVEST INTO.

1. EDUCATION : This includes educational institutions like colleges and tertiary institutions. It also includes setting up educational/tutorial centres for examinations like WAEC, NECO, UTME, POST- UTME, ICAN, CIS, ACCA etc. especially for young entrepreneurs who have passion towards teaching.

2. COMMUNICATION : This includes data subscription of various network like MTN, GLO, 9MOBILE, AIRTEL etc. And people are making much money from this business.

3. AGRICULTURE : This includes crop production, rearing of animals like poultry, sheep, cattle etc. This is an opportunity for those who venture into it especially in Nigeria whereby we import most of our food items. The quality of the local food items over imported ones will bring about the success of agro- businesses in Nigeria.

4. TECHNOLOGY: This includes Digital Marketing, E- Commerce, Graphics & Web Design, Blogging etc.

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