Lessons From Facilitating Entrepreneurship in Nigeria

This article speaks to this week’s prompt about steps that countries must take to facilitate entrepreneurship.  It is interesting that it hits on a number of the topics brought up in the Poverty Inc. video, specifically the difficultly small and medium size businesses face when trying to find financing.  Ways that Nigeria has tried to address this is to bring in more experienced bankers from other countries who have a deeper knowledge of all the funding alternatives so that both the banks and entrepreneurs can profit from the rise in innovation within the country.  Another topic brought up in this article that wasn’t necessarily touched on as much in Poverty Inc. is the difficulty in retaining skilled labor.  It explains that skilled individuals in developing countries tend to go work for multi-national corporations because these companies can provide better stability, but more importantly, pay workers more than local start-ups.  Which hurdle do you feel will be the more difficult one for developing nations to overcome, the lack of financing options or difficulty in retaining skilled labor?

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