Empirical Overview of Globalization Effect on Entrepreneurship Development in Nigeria

This study examined the effect of globalization on the development of entrepreneurship in Nigeria with focus on small business owners in Ibadan, Oyo State capital. Self-administered Structured questionnaire was used to collect data from 155 respondents through simple random sampling method. Simple regression analysis was used to analyze the data collected in order to examine the effect of independent variable (globalization) on dependent variable (entrepreneurship development) with the aid of Statistical Package for Social Sciences (SPSS). The result revealed that globalization (β=0.745, t=13.580, p=0.000) has significant effect on the development of entrepreneurship. This implies that globalization is a strong predictor of entrepreneurship development among Nigerians. The result also indicated that globalization contributes 74.5 percent to the development of entrepreneurship in Nigeria. The study further revealed that the integration of micro entrepreneurs into globalization will ensure job opportunities as well as reduction in general poverty level. The paper concluded that globalization is a strong pivotal to the development of entrepreneurship opportunities in Nigeria. It is therefore, recommended that governments and other stakeholders should ensure the creation of a conducive environment for the development of ICT infrastructures to aid entrepreneurial development considering the pivotal role being played in the development of entrepreneurial opportunities by globalization.