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EFFECT OF UNDEMOCRATIC GOVERNMENT ON BUSINESS FAILURE IN NIGERIA: THE REMEDIES TO BUSINESS OWNERS
This study examines the
impact of undemocratic governance on business failure in Nigeria, highlighting
the systemic challenges entrepreneurs face under authoritarian regimes. It
identifies key issues such as corruption, regulatory unpredictability, and
political interference that hinder sustainable business operations. Drawing on
recent empirical and theoretical sources, the research underscores how weak
democratic institutions undermine economic stability. The paper also explores
practical remedies business owners can adopt to navigate hostile political
environments. These include legal advocacy, business diversification,
collective action, and digital mobilization. Findings reveal that without
democratic reforms, businesses remain vulnerable to state-imposed risks. Thus,
the study calls for greater civic engagement and institutional accountability
to protect entrepreneurship. The study concluded that Business failures are
often symptoms of larger governance deficits rather than market inefficiencies
alone. To survive, business owners must adopt adaptive strategies like
collective advocacy and operational diversification. The study also recommended
that business owners should collaborate with civil society organizations to
advocate for the enforcement of rule of law, property rights, and transparent
regulatory practices that limit arbitrary government interference.
KEYWORDS: Undemocratic Government, Business
Failure, Nigeria, Business Owners
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