The engine room for the development of any Economy is Entrepreneurial activities or opportunities in the form of self-employment, creation of family business, small and medium scale enterprises.
This paper examines the potent place of entrepreneurial activities as a factor in economic development of a nation. It holds that the birth and development of new businesses which is the central point of entrepreneurial activities presents employment declines and equally leads to economic growth. It also argues that there is a circular relationship between entrepreneurial activities and economic development. In effect, entrepreneurial activities creates economic development and in the same breath, economic development creates entrepreneurial activities. The contributions of small and medium enterprises were discussed to buttress the significant position of entrepreneurial activities in economic development.