Effects of Entrepreneurship Engagements on White-Collar Jobs: A Review of Wealth Creation in Nigeria

Abstract

Year in year out graduates troop into the labour market and desire for white collar job which is very limited compared to its seekers is greatly increasing in Nigeria in the 21st century. With the current global economic situation, the demand for labour has been declining globally and Nigeria is no exception. It is a widely known fact in Nigeria that the quality of educational certificate and one’s area of specialization or discipline has been relegated the background. Thus, only those with the “right connections” can easily acquire the white collar job (working in an office, rather than in a factory). As if this is not enough, continuity of the job is even a bigger threat. In worst case scenario, salaries and emoluments of civil servants or employees are not regularly paid as and when due. This makes survival difficult and frustrating. From the forgoing reasons, alternative sources of earning a living become imperative to cushion the attendant problems inherent in white collar jobs. There are many alternative to white collar jobs but this paper shall dwell only on entrepreneurship-“the father of all alternatives”. Entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses (Islam, 2014). Entrepreneurship has created new business opportunities in the areas of telecommunication, e-commerce, small, medium and large scale business services etc in Nigeria. This paper focuses on “the role of entrepreneurship as an alternative to white-collar jobs (white-collar works are usually office works) in Nigeria. This paper will discuss how entrepreneurial engagements could create employments and wealth for the teaming unemployed people in Nigeria. An alternative is anything available as another possibility or choice. It is, one of the two or more ways of achieving the same desired end or goal. The development of entrepreneurial consciousness is vital in the drive to create economic prosperity in a nation.