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Entrepreneurship is associated with the process of management, organization, and risk-taking involved in running a business venture. Combining these attributes with the already heinous activities of studentship, the student entrepreneur is overwhelmed.
There are numerous reasons why youths venture into entrepreneurship while still in school.
1. Senses of Ambition: The teenage age is full of confusion. Most youths tend to realize what their life task in their late teen to mid-twenties. Therefore, they set out to pursue these aims even while still in school.
2. Little or no allowances: in recent times, school fees had drastically increased in schools around the country, this, coupled with the economic situation within the country makes the allowances students receive from their parents almost worthless. Hence, students have to find alternative means to supplement their allowances.
3. Self-employment: since there is no assurance of a job opportunity awaiting the majority of Nigerian students, it is safe to begin practicing the act of entrepreneurship right from school.
These factors have influenced the rate of growth of student entrepreneurs in Nigeria. Unfortunately, the act of student entrepreneurship possesses inherent challenges that must confront every student who chooses to go in its path, chiefly is; insufficient time for neither school’s work nor business. Hence, at a point in time, the student must decide to greater attention to either of his/her academics or trade.
Another challenge which is a major concern to the student-entrepreneur is the issue of funding – how to raise enough monetary capital to take their businesses to the next level. Worst still is the issue of sponsorship for the market-size production of fresh inventions. Stories abound of students who had made ground-breaking inventions but had no money to even secure a patent.
The way out, given the economic situation of in Nigeria, is entrepreneurship. This is the only way by which we can grow our economy and eradicate poverty, even to students in tertiary institutions. Are you a student in a tertiary institution? Don’t wait until graduation to begin to live out your passion. Start right away. We need entrepreneurs like you to take us to where we are supposed to be.
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