Is unemployment a reason many choose to be entrepreneurs.

[CALVINDOL]

In most regions and countries of the world there is an increased rate of unemployment, a good relatable example is the country Nigeria. Nigeria for sure has a high unemployment rate of almost 97% and as estimated by the economic bureau of Nigeria it is more likely to reach 100% by the end of 2023. Unemployment in Nigeria has totally made the youth to lose guard of their future and the prospect of having a brighter and prosperous future. In other not to stay idle and keep waiting for the government to end the high unemployment threat and issue in Nigeria, many have chosen to establish a business of their own and by establishing a business there meant to become entrepreneurs. Indeed Nigeria is considered to be the fast business-populated country in the whole of west Africa with almost a small scale businesses of 972 billion individuals businesses and Enterprises. Indeed that is impressive, and the reason for this is because of the high unemployment rate in Nigeria.

Becoming an entrepreneur is absolutely the opposite of staying idle. And do not think that to become an effective and a successful entrepreneur requires you to be much educated and learned. No there are some uneducative entrepreneurship courses in which individuals like you and I who are threatened by the economic problem and the societal issue of unemployment can totally venture ourselves into, to earn a living rather than staying idle.

 

[Mastergp]

Well it might be one of it they are more, but the level of unemployment has made it one to fine a job and even feed for his family, no one want to remain jobless that is why the look for different ways to make money.

Entrepreneurship is one of the ways they have chose to make a leaving and it a good one though because the are some joy and freedom we enjoy as entrepreneurs that many employees do not, when one has a business he ore she can run the business on his own interest and not for others.

Well choosing entrepreneurship style of business is not bad, but one need to be ready to control his business because without proper control put in place such business could crash to the ground,that is why many prefer walking for others than themselves so that they would train their minds into becoming an entrepreneur without jumping to it.

 

[Chibson]

Your statistics is probably not correct. According to a website called Statista, the unemployment in Nigeria is about to 33%. I think it is important you will correct that in order not to mislead people.

Meanwhile, I will say that unemployment is one of the reasons so many people go into enterpreneurship. We have heard stories of people who became very successful in businesses and the reason they ventured into businesses was because they were rejected in a place in which the words to look for jobs.

So whenever you are looking for a job and you don't find you don't have any other option than to start your own business. But the same can not be the case for everyone because there are people who do not fancy working for others instead, they love to work for themselves.

Some people also work for other people for some period of time and take the money to start their own business.

 

[Heartstrings]

Unemployment may be one of the reason but I believe some people just have passion for it or be a business minded person. I have come across some people who prefer been an entrepreneur than working under someone, while some prefer been an entrepreneur because they don't want to face work all day,the stress and everything.

The issue of employment is a thing of concern in Nigeria to be Frank, you see many graduates looking for greener pastures,many graduate going from one company to another searching for jobs. All those people have needs and bills to pay,so instead of sitting idle while the bills compile themselves or sit without food,they would prefer setting up a business and I have seen some successful guys/ladies who venture into business after school.

Besides going into business doesn't necessary mean you have to be learned as you stated,there are some tribes here in Nigeria who really do not take education so serious,yet they are one of the most successful in terms of business.

 

[Carpon]

Well, it might be true that unemployment is one of the strong factors that leads people to becoming entrepreneurs but indeed it is not the main and only reason people become entrepreneurs.

Infact I know of an individual who had the job opportunities and a lot of organisations were willing to employ him for some good job that pays well and treats their staff honourably. But because he was into a very big vendor business, he declined all those offers. He preferred being an entrepreneur not because he could not have jumped into some employment opportunities but he had much pleasure and delight in being an entrepreneur.

So actually, unemployment leads to creating self employment and makes people to become entrepreneurs but you must understand that their are a lot of entrepreneurs who are what they are now because they chose that line of work and not because they were left with no option.

 

[Ithedicious]

What I have come to understand is that so many people engaged in business for the main purpose of generating profit and that is the reason for which a business was established in 90% most of the time. There are so many people who are just interested in business , not really because they are not earning much. I have seen a situation in which qualified people who are working in top government department are also engaging in business , probably they are engaging in this business because they are interested to generate some profit for themselves..

Sometimes it could be as a result of high rate of unemployment , sometimes because they may be interested in more wealth. Bored may not also be the reason except for retired people .

So many people have established a business but they themselves are not directly involved in the business they have established .

 

[AugusHoek]

Personally, I think that becoming an entrepreneur requires many different factors and is not an easy task (not everyone can become an entrepreneur).
In my opinion, a person who cannot find a job lacks some abilities or factors required for employment, so what can he do to become an entrepreneur? I mean not everything is related to unemployment (in many low-employment countries, there is still plenty of jobs available for people from noobs to specialists). So, I don't think that unemployment can be related to this.

 

[isaac01]

Yes, jobs are getting harder to have and the only way we can answer that is by having another income streams coming, that's just the best way to overcome financial hardship.

 

[Augusta]

People becomes entrepreneur for different reasons. business is not necessarily about unemployment because I know some people right from school they go straight into business without looking for a job

These are people that can plan out their lives to be intrapreneurs as they don't want to work for anybody but to turn their dreams into reality which I believe it is what should be done especially if one has been dreaming of having a dream business to accomplish .

Like me I still have my dream of starting a big construction material selling business it isn't about me being unemployed but I feel I will enjoy this business and be able to run it passionately it is always good to go for what one can run effectively and faster to be able to get the best out of it because your whole life will depend on seeing that the business is a successful one.

 

[eldavis]

Unemployment plays a major role as to why so many persons wants to have a job of their own, after waiting for so long for their dream jobs, they decide to startup something for themselves. But the Truth of the matter is that there are some who become entrepreneurs not because of unemployment, they do it because it has always been their dream to become one, while there are others who become entrepreneurs simply because they want to become their own boss and not have to be ruled by others.

 

[oldbuddy]

Don't overlook the hordes of people who have just reached the end of their normal working life and decided to retire. Retirement is wonderful and I don't even need to walk to the mail box, the government just deposits my monthly check in my bank account for me. However, since I need something to occupy my time anyway and it helps to add a little extra cash for incidental expenses, the Internet has been a real blessing to me for the last 21 years and counting.

 

[Miki1]

Unemployment is one of the main reasons people take up entrepreneurship. Other people too looking for extra income come entrepreneurs. Also, people choose to be enterpreneurs. Whichever way, enterpreneurship is a good venture everyone must try.