Unemployment, Corruption and Entrepreneurial Opportunities
According to thebalance.com Unemployment is defined by the Bureau of Labor Statistics as people who do not have a job, have actively looked for work in the past four weeks, and are currently available for work. Also, people who were temporarily laid off and were waiting to be called back to that job are included in the unemployment statistics.
The vanguard reported on 23rd of December, 2017 that unemployment rate in Nigeria gas risen from 14.2% to 18.8% in year 2017.
Unemployment is simply a reason for low standard of living and that is not the only consequences.
First, poverty or hardship is an immediate experience that is possible for the unemployed. There are responsibilities of life that cannot be avoided by individuals who fall within the employability range.
Since employment is the platform for earnings then to be unemployed is to be without income.
Also, those without earnings and are capable can become desperate and frustrated to the extent of doing ANYTHING fraudulent or criminal. That is why internet fraud has increased, kidnapping has become a norm, ritual killings has become a practice. And those who are not desperate to that extent in their idleness can become thugs, rapist or tools of violence in other people’s interest to play the games of power.
There are many direct and indirect effects of unemployment -scary evils of it. It must be reduced at all cost.
The government of Nigeria initiated the NYSC SAED for skills acquisition. The government also initiated NPOWER to employ graduates.
There is Bank of Industry grants.
These are attempts to reduce unemployment in Nigeria. But it saddens that despite all programs, unemployment still increased in the country.
It then means that to wait on the government is absolutely like WAITING FOR GODOT.
There is a need for employable individuals to rise to the need for job creations.
One error must be corrected. Job creation is different from sole proprietorship. Unemployed individuals must learn the TEAMING STRATEGY. That is doing their best in partnership or workmanship when necessary.Unemployment exists everywhere. The government alone cannot fight it. We all must be proactive.
And the government must look beyond prejudice and create environment alluring to investors.
When people get profit it is honesty. But when people accumulate money, and that in illegal ways, that is corruption.
Corruption has faces such that we can see its deceits and appearance through bribery, cheating, embezzlement, abandoned projects, money laundering, injustice, nepotism and so on. Nepotism is part of life. It’s not what is bad in itself. It is the injustice of giving jobs to the unqualified in order to cheat the qualified who refuse to pay bribe, monetarily or sexually that is evil. Corruption is a reason why many Nigerian politicians see political offices as posts merely for accumulating wealth. Hence, they nurture do-or-die intents in electioneering. The Nigerian government has been trying to fight corruption for years. But it is too deep and fighting back. That is because corruption cannot be fought with corrupt hands.
Corruption is a potential trait of almost all in a land where poverty is prevailing. In other words, very few won’t easily compromise honesty when faced with decisions of money. In an economy that’s been successfully ravaged by immense poverty level, diverse faces of manipulation, extortion and diversion of what’s meant to be generally benefitted will be made to become an individually dominated benefits.
The rich take advantage of the poor and the poor also often take advantage of the same people of their kind without feeling remorse. The one’s in authority manipulate public wealth to make it theirs and their family members while the poor also make like difficult for others.
For example an unemployed person seeking employment heard about a job opportunities in a company, even though it’s not a white collar job, and the person rushed down to make some enquiries but on getting to the entrance of such a company, the gate keeper will be the one to even stand against him not until the helpless job seeker drops ‘Something’ that the gate keeper might allow him in.
In a nutshell, corruption can also be described as a way of using authority to exploit others simply because they have no one to fight their cause; depriving them what rightfully belongs to them because one seem to be in a position that they cannot boldly confront as a result of one’s power.
The simple ones with creative abilities are also exploited because of the promise to help them gain relevance but the rich rather use their creative abilities to make profit for themselves because they have the financial capabilities. Uneven distribution of resources has actively made corrupt practices to successfully thrive and many now see it as the best way to survive simply because they want a better life and things seem not to work, therefore, they trade their integrity for penny.
- Entrepreneurial Opportunities
According to the English mini dictionary an entrepreneur is a person who organizes and operates a business venture and assumes much of the associated risk. A person who organizes a risky activity of any kind and acts substantially in the manner of a business entrepreneur. An entrepreneur is always on the look for diverse imperfections that exist in the market that can be turn to business to generate a steady income. There is no business that is not risks associated but an entrepreneur is always ready to assume the risk in order to achieve or get the foreseen stream of incomes.
It is worthy of note that no matter how saturated a market might seem to be, there will always be some deficiencies at some certain points in time and this will automatically leave some consumers unsatisfied which will eventually become a noticeable gap (unsatisfied gap) that can also be termed entrepreneurial opportunities. It becomes entrepreneurial because it involves risk taking and it might be that the one who sighted the gap might not have done proper market evaluation before venturing into it I.e he might either make profit or loss.
Businesses have launched because someone was frustrated by inferior goods or services from existing companies. New businesses spring up either to improvement on the existing products and services in the market or to create an entirely new one to augment the performance of the existing products or to satisfy an emerging need in the market.
It is observed that variation in times and seasons, taste and many other factors persistently create noticeable vacuums of pressing needs, hence, entrepreneurial opportunities.
The economists noted that human needs are usually insatiable I.e. as one need is satisfied, another fresh need arises, which simply means that at every point in time there will always be some needs left unsatisfied and these in turn create entrepreneurial opportunities.
Entrepreneurial opportunity is an opportunity cloaked in risks. It takes boldness and calculations with proactive mind to break into the real behind the veil.
Many things such as macro and micro environmental forces have seriously stampeded the rate at which people really want to venture into several entrepreneurial opportunities as many as they are in the country today. People are scared of having their heads buried in such an investment.
Gideon wrotes that “successful people are usually those that do what others are afraid of doing; don’t be proud of your salary but be proud of your investment.”