Review On Entrepreneurship Training and Poverty Alleviation!

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March 31, 2018

Riveting on the long‐term, entrepreneurship training could play major role in poverty alleviation and job creation in the developing world. However, training in entrepreneurship and the provision of other facilities could give less performing owners of micro and small enterprises (MSEs) opportunities to grow their businesses and get themselves and others out of poverty.  Subsequently, FutureHopeUK are of the belief that entrepreneurship training (of necessity) will fulfil a primary role in preparing our youth for their future. Evidence from elsewhere, in particular industrialized countries, indicates that entrepreneurship training plays important roles in the contribution to economic growth. Experts in the field of entrepreneurship believe that the contribution of small to medium-sized enterprises (SMEs) to the growth of a Nation be much higher if entrepreneurship training is implemented. (Journal of Education Volume 27, Issue 4)

The study on effect of Entrepreneurship on Poverty Reduction revealed that independent entrepreneurship program has significant and positive effect on poverty reduction. The results support the research that has been done before by Ali Yasin (2013) on Somalia, Adofu (2013) in Nigeria and Emesi (2011) in Nigeria. In addition the results of this study support the opinion of several experts, among others Fong Chan On (2013) and Hasan Sharif (2013) which suggests that the role of entrepreneurship in poverty alleviation can no longer be underestimated because of its role is increasingly crystallized in addressing unemployment and poverty alleviation.
In addition, the results of this study revealed that the aspects relating to the model of business development expected by businesses is access to capital from financial institutions (Bank), access to capital from a financial institution (non-bank),training opportunities.
Based on FutureHopeUK researches it is recognised that the following needed to be focused on: (1) the need to optimize the competencies of entrepreneurs by improving the professional skills of the business that occupied, build communication and partnering with others for the betterment of the business, creating business opportunities and to improve the ability to organize business managed, (2) the need to develop entrepreneurship by providing better access to capital from banks and financial institutions, non-bank financial institutions (NGO like ours). Besides, it provides training opportunities, build business partnerships and help marketing results.
However, as an organisation, our reviews clearly showed that various problems in the system hinder the effective implementation of entrepreneurship training, some of which are lack of adequate resources, lack of financial support, poor management, and corruption. And so understand that better entrepreneurship training could make a significant contribution to business creation, in other words a possible solution to youth unemployment and ultimately to poverty alleviation.
There will be a potential for growth of small businesses in many areas of their economy. Training of survivalist entrepreneurs and other struggles persons with potential could open their eyes to the opportunities around them, which they could take advantage of to improve their economic situation and that of other struggle persons in the area through job creation. S.N.‐A. Mensah, E. Benedict, (2010)
However, these various problems that constrain small business development and survival, which also increasingly causes unemployment, reduce food security forces, has helped this organization to put in place a Strategic Policies and Training Programs that will actively stimulate innovation for poverty alleviation in our chosen geographical location (Nigeria).

Reviewed Case studies on Agricultural progress and poverty alleviation (OECD 2018)

• Ethiopia
With 85% of the population living in the rural areas and depending on agriculture for livelihood, there is no doubt for the economic importance of the agricultural sector for sustainable development and poverty reduction in Ethiopia. A better-performing agricultural sector has provided growth to the overall economy, improved food security and reduced poverty in recent years.
• Ghana
After more than 20 years’ steady economic growth and significant poverty reduction, Ghana is aiming to become a middle income country. Agriculture will continue to be a large and important sector in Ghana’s economy, according to the economic model featured in this analysis.
• Indonesia
Indonesia’s achievements in reducing poverty were substantial in the period leading up to the Asian financial crisis of the late 1990s, which slowed down the pace of poverty reduction. Agricultural growth performance in Indonesia has been weak, with a decline in real spending on agricultural research.
• Vietnam
Vietnam’s economic recovery since the late 1980s has lifted nearly half the population from below to above the international dollar-a-day poverty line. The country which could not produce enough rice to feed its own population in those years is now a major supplier to world markets. Agricultural policy reforms were a major factor in this recovery, this study finds. (OECD 2018).
Consequently, TheFutureHopeUK is working hand-in-hand with Josiah Future Hope Empowerment Foundation in Nigeria on modern agriculture amongst its 4 cardinal pillars with the following objectives:-
• To provide food security for the Nigerian populace.
• To create adequate alternatives to employment.
• Reducing unemployment and giving the youths early direction into becoming entrepreneurs. Join The FUTUREHOPEUK’s Youths Empowerment In Modern Agricultural Program, to release the power within our youths for extraordinary result!
Reviewer – ThefuturehopeUK (March 2018).

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