Entrepreneurship: As a Solution to Poverty

The word entrepreneur is derived from the French word entreprendre and its literal meaning is “to undertake”. Undertaking enterprise is regarded as entrepreneurship and one who undertakes it-one coordinate’s capital and labor for the purpose of production is an entrepreneur.

Entrepreneurs perform a core function in economic development. They are referred as the human agents needed to “mobilize capital, to explore resources, to create markets and to carry on trade”. It might well said that the entrepreneurial input spells wealth of a nation.

Poverty- Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living. Poverty means that the income level from employment is so low that basic human needs cannot be met. Poverty is not about having enough money to meet basic needs including food, clothing and shelter. However, poverty is much more than just not having money.