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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

Akpan, E. EBENEZER, Ph.D. FCICN, AP, PPGDCA, PHDCDPM And Joy Uko EBENEZER
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