EXPLOITING THE BENEFITS OF ECONOMIC RECESSION THROUGH ENTREPRENEURSHIP OPPORTUNITY: A NIGERIAN CONTEXT

Abstract

Economic recessions are often associated with negative outcomes such as rising unemployment, business closures, and a decline in consumer confidence. However, recessions also present unique opportunities for entrepreneurial ventures that can drive innovation and economic recovery. This study explores the potential for entrepreneurship to thrive during economic downturns by identifying and exploiting recession-driven opportunities. The research focuses on understanding the types of businesses and sectors that emerge during recessions, the strategies entrepreneurs use to capitalize on these opportunities, and the role of government policies in supporting entrepreneurship during challenging economic times. The findings highlighted key entrepreneurial strategies such as cost-efficiency, market adaptation, and innovation that enable businesses to succeed despite economic adversity. Additionally, the research will assess the influence of government interventions and support systems that facilitate entrepreneurial growth during recessions. Ultimately, this study contributes to the broader discourse on entrepreneurship by shedding light on the potential benefits of economic downturns and offering practical recommendations for entrepreneurs, policymakers, and economic stakeholders to harness these opportunities for long-term growth and resilience.