EXTERNAL FINANCING OF ENTREPRENEURSHIP: IMPLICATIONS FOR FUTURE GROWTH OF ENTREPRENEURSHIP IN SUB-SAHARAN AFRICA

Abstract

This paper discusses the conceptual foundation of external financing of entrepreneurship in Nigeria. It dwells on identifying the meaning of entrepreneurship, types of entrepreneurship, sources of external financing for entrepreneurship and types of external financing. Recently, the encouraging role of the Central Bank of Nigeria (CBN), federal ministry of commerce and local thrift and loan organization have not only introduced a new paradigm of seed capital generation but, has awaken the youth engagement in entrepreneurship dynamics in Sub-Saharan Africa. Access to isusu, grants, loans and other forms of external financing among young entrepreneurs in Nigeria is the beginning of industrialization of Nigeria. There is no gainsaying that finance is the brain behind every successful entrepreneur when well sourced and articulated in a resource-poor country.