NAVIGATING THE NIGERIAN BUSINESS ENVIRONMENT TRANSITIONING FROM EMPLOYEE TO ENTREPRENEUR

A B S T R A C T

 The trend of transitioning from employee to entrepreneur has gained momentum in recent years, with many corporate employees seeking to leverage the experience gained from working in organizations. While the idea of entrepreneurship is often perceived as offering more freedom and better prospects, the reality can be much more challenging. Many employees struggle to move from a stable income to navigating the uncertainties of starting a new venture. This study examined the challenges and prospects of transitioning from employee to entrepreneur within the Nigerian business environment. A survey was conducted with employees and entrepreneurs in Lagos State, using a rating scale to collect quantitative data from 120 respondents. The findings revealed that demographic factors such as gender, marital status, education, employment status, age, and family background significantly impacted the success of this transition. The study emphasizes the importance of entrepreneurship as a driver of economic growth, particularly in developing economies. It suggests that addressing the challenges of access to finance, improving infrastructure, streamlining regulatory processes, and fostering a cultural shift toward entrepreneurship could help ease this transition and support the development of a robust entrepreneurial ecosystem.

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