Entrepreneurship and Poverty Alleviation in Africa

Abstract

This article aimed at reviewing some of the contemporary (modern) theories explaining the relationship between entrepreneurship and poverty reduction which include remediation perspective, reform perspective, social and plight perspectives, learning and change perspective, subsistence and innovation entrepreneurship perspective as well as the conceptual framework. In addition, the article presented the study concepts, which include poverty reduction and entrepreneurship in Africa, as well as empirical studies concerned with the study. It also discussed the current state of poverty and entrepreneurship in the world and in Africa. In addition, a critical analysis of reasons why poverty reduction programs have been satisfactory in some regions of the world, but not in Africa, is investigated and explained. The qualitative method using documentary analysis was adopted for the study. The results of the research found out that entrepreneurship development in Africa must not only look at ensuring access to capital to the poor but more focused on creating an enabling environment that aids individuals and groups to achieve significant entrepreneurship success. It is recommended that African leaders must collaborate with the various local and international institutions and organizations to create and maintain enabling conditions that facilitate entrepreneurship growth.

Keywords

• Economic Development
• Poverty Alleviation
• Entrepreneurship

References

1. Akhuemonkhan, I. and Raimi, L. (2013)"Entrepreneurship education and employment stimulation in Nigeria," Journal of Studies in Social Sciences, vol. 3.
2. Ali A. and Ali A. (2013). Entrepreneurship Development and Poverty Reduction: Empirical Survey from Somalia; 2 (3):108-113.
3. Bagheri, A and. Pihie, Z. A. L (2010). "Entrepreneurial leadership learning: In search of missing links," Procedia-Social and Behavioral Sciences, vol. 7, pp. 470-479,
4. Bhagwati, J., and T. N. Srinivasan (2002). “Trade and Poverty in the Poor Countries.” American Economic Review 92 (2):180–183.
5. Carland J. H. and Boulton, F. (1984)"Differentiating entrepreneurs from small business owners: A conceptualization," Academy of Management Review, vol. 9, pp. 354-359,
6. Coulter, M. (2014) .Entrepreneurship in action. NJ Prentice-Hall, Upper Saddle River, 2001.
7. Dzingirai, M. (2021), ‘’The role of entrepreneurship in reducing poverty in agricultural communities’’, Journal of Enterprising Communities: People and Places in the Global Economy, Vol 15 No.5, pp.665-683.
8. Easterly, W. (2006). The White Man’s Burden: Why the West’s Efforts to Aid the Rest have done so Much Ill and so little good. New York: Penguin Press.

9. Fukazawa N. (2013). Which Factors Affect Success of Business Incubators. Journal of Advanced Management Science; 1 (1):71-74.
10. Haugh, H. (2019). “Call The Midwife! Business Incubation, Enterprise Development and Entrepreneurship Enablement in Developing Economies.” Entrepreneurship and Regional Development, this issue
11. Hussain M. D, Bhuiyan A.B. and Bakar R. (2014) Entrepreneurship Development and Poverty Alleviation: International Journal of Commerce and Management Research.
12. Hussain, M. D. Bhuiyan, A. Bakar, R. (2014). Entrepreneurship Development and Poverty Alleviation: An Empirical Review. Journal of Asian Scientific Research, 2014, 4 (10): 558-573.Journal of Asian Scientific Research, 4(10): 558-573572
13. Kabongo J. D. Okpara, J. O. (2010)"Entrepreneurship education in Sub-Saharan African universities," International Journal of Entrepreneurial Behaviour & Research, vol. 16, pp. 296-308.
14. KPMG (2020). An analysis of COVID-19 and Oil Price War affects and potential mitigating measures.
15. Kuratko, D. and Hodgetts, R. (2004). Entrepreneurship, theory, process, practice, 6th ed. Stanford, CT: Thomson South-Western,
16. McCloskey, D. N. (2017). Bourgeois Equality: How Ideas, Not Capital or Institutions, Enriched the World. Chicago: University of Chicago Press.
17. OECD (2022). Poverty rate (indicator). doi: 10.1787/0fe1315d-en (Accessed on 20 January 2022)
18. Shaheen G.E. (2016). Inclusive Entrepreneurship: A Process for Improving Self-Employment for People with Disabilities. Journal of Policy Practice. 15(1-2):58-81.
19. Sheikh A., A. & Hasaballah, A. H. (2016). Entrepreneurship Development and Poverty Reduction: Empirical Survey from Somalia.
20. Si, S., A., Wei, D. J. & Cullen, J. (2020) Business, Entrepreneurship and Innovation Toward Poverty Reduction, Entrepreneurship & Regional Development, 32:1-2, 1-20
21. Sutter, C., G. D. Bruton, and J. C. (2019). “Entrepreneurship as a Solution to Extreme Poverty: A Review and Future Research Directions.” Journal of Business Venturing 34 (1): 197–214.
22. Sutter, C., J. Webb, G. Kistruck, J. D. Ketchen, J. and Ireland.R. D. (2017). “Transitioning Entrepreneurs from Informal to Formal Markets.” Journal of Business Venturing 32 (4): 420–442.
23. Tomizawa, A., L. Zhao, G. Bassellier, and D. Ahlstrom (2019). “Economic Growth, Innovation, Institutions, and the Great Enrichment.” Asia Pacific Journal of Management.
24. United Nations (2004). Human Development Report, Public Affairs, New York.
25. Vermeire, J. & Bruton, G. (2016). Entrepreneurial Opportunities and Poverty in Sub-Saharan Africa: A Review and Agenda for the Future: Africa Journal of Management. 2. 1-23.
26. World Bank (2001). World Development Report 2000/2001: Attacking poverty, World Bank, Washington, DC.
27. World Development Report (1990). Nigeria and Poverty amid Plenty, Washington, D. C
28. Wu, J., and Si, S. (2018). “Poverty Reduction through Entrepreneurship: Incentives, Social Networks, and Sustainability.” Asian Business & Management 17 (4): 243–259.
29. Cumming, D. J., Johan, S. and Uzuegbunam, I. S. (2019). “An Anatomy of Entrepreneurial Pursuits in Relation to Poverty. Entrepreneurship and Regional Development
30. Haugh, H. (2019). “Call The Midwife! Business Incubation, Enterprise Development and Entrepreneurship Enablement in Developing Economies.” Entrepreneurship and Regional Development,
31. Jain, S., and J. Koch (2019). “Crafting markets and fostering entrepreneurship Within Underserved Communities: Social Ventures and Clean Energy Provision in Asia”. Entrepreneurship and Regional Development
32. Korosteleva, J., and Stępień-Baig, P. (2019). “Climbing the Poverty Ladder: The Role of Entrepreneurship and Gender in Alleviating Poverty in Transition Economies”. Entrepreneurship and Regional Development
33. Su, Y., Zahra, S.A Li, R. and Fan, D. (2019). “Trust, Poverty, and Subjective Wellbeing among Chinese Entrepreneurs”. Entrepreneurship and Regional Development
34. Lin, S., Winkler, C. Wang, S. S. and Chen, H. (2019). “Regional Determinants of Poverty Alleviation through Entrepreneurship in China.” Entrepreneurship and Regional Development
35. Wierenga, M. (2019). “Uncovering the Scaling of Innovations Developed by Grassroots Entrepreneurs in Low-income Settings.” Entrepreneurship and Regional Development
36. Goel, S., and Karri. R. (2019). “Entrepreneurial Aspirations and Poverty Reduction: The Role of Institutional Context”. Entrepreneurship and Regional Development
37. Wu, A., Song, D. and Yang, Y. (2019). “Untangling the Effects of entrepreneurial Opportunity on the Performance of peasant Entrepreneurship: The Moderating Roles of Entrepreneurial Effort and Regional Poverty Level. “Entrepreneurship and Regional Development