Impact of Youth Entrepreneurship in Nation Building

It has become evident that the creation and development of a modern, flexible and knowledge based
economy requires the growth of entrepreneurial firms. This is because of the capacity of such
category of firms to boost entrepreneurial skills of youths. In addition, due to their capability to be
dynamic and fast pace adaptation to a changing market and to generation of new employment for
the citizenry. The main objective of this study is to investigate the role of youth entrepreneurs in
nation building. A total of 40 upcoming entrepreneurial firms were randomly selected from a cross
section of a population of firms located across Yaba Local Government Area (LGA) of Lagos state.
Participants were chosen through a simple random sampling technique. The responses to the
questionnaires were complemented with personal interviews of some of the owners and managers
of entrepreneurial firms. Participant’s responses were analyzed with the use of simple percentages
and are presented on pie and bar charts. This study finds that there is a significant relationship
between competition, growth and development of entrepreneurial firms in Nigeria. However, it also
finds that youth entrepreneurs if properly supported have a huge impact on the growth of national
economy of Nigeria.