Volume 7 No 2 (2018) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2018.134 | http://emaj.pitt.edu Hybrid Entrepreneurship as a Tool for Poverty Reduction in Nigeria: A Review of Literature with Qualitative Research and Content Analysis Olajide Olubayo Thomas Lagos State University, Nigeria | e-mail: bayolajide2005@yahoo.com Olajide Idowu Okunbanjo Olabisi Onabanjo University, Nigeria | e-mail: okunbanjoolajide@yahoo.com Abstract In today’s Nigeria, employment in organizations has turned upside down due to poor economic situations which do not allow many companies to pay their employees well. There is a need for individuals to look for ways to increase their incomes for meeting financial obligations. The need for hybrid entrepreneurship is critical as well. This paper conducts a review of literature on hybrid entrepreneurship as a tool for poverty reduction. The research employs qualitative research approach and content analysis. The study concludes that, hybrid entrepreneurship is a determinant practice to reduce the rate of poverty in Nigeria. The paper recommends that, hybrid entrepreneurship should be encouraged among the Nigerian citizens so as to reduce the poverty level that has become a problem of Nigerians. Also, every Nigerian should try to get involved or engage in other businesses to augment their incomes so as to achieve their personal and family goals. Keywords: Entrepreneurship, Hybrid Entrepreneurship, Paid Employment, Self-Employment, Poverty Reduction New articles in this journal are licensed under a Creative Commons Attribution 3.0 United States License. This journal is published by the University Library System of the University of Pittsburgh as part of its D-Scribe Digital Publishing Program, and is cosponsored by the University of Pittsburgh Press. Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu | http://www.library.pitt.edu/ http://www.pitt.edu/ http://www.library.pitt.edu/articles/digpubtype/index.html http://www.upress.pitt.edu/upressIndex.aspx http://creativecommons.org/licenses/by/3.0/us/ Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu Hybrid Entrepreneurship as a Tool for Poverty Reduction in Nigeria: A Review of Literature with Qualitative Research and Content Analysis Page |42| Emerging Markets Journal Hybrid Entrepreneurship as a Tool for Poverty Reduction in Nigeria: A Review of Literature with Qualitative Research and Content Analysis Olajide Olubayo Thomas Olajide Idowu Okunbanjo I. Introduction Poverty has become a major concern for world leaders, governments, international bodies, non- governmental bodies, individuals as well as researchers. As a matter of fact, poverty is a great challenge in the globe. As Aristotle states, “Poverty is the parent of revolution and crime” (Aristotle, 3843-22BC). The concern has forced the local and international bodies to focus on methods to eliminate and to reduce poverty rate in the world, especially in developing economies. Ezeanyeji, Imoagwu and Ejefobihi (2019) mention that when there is no development in the entrepreneurial or business activities, the daily income of individuals could be stagnant or reduced. Therefore, there is need for the development of business activities in order for poverty to be decreased in any economy. One of the entrepreneurial or business activities identified is hybrid entrepreneurship (Kurczewska, Mackiewicz, Doryń, & Wawrzyniak, 2020; Luc, Chirita, Delvaux & Kepnou, 2018; Dzomonda & Fatoki, 2018; Solesvik, 2017; Raffiee & Feng, 2014). Kurczewska et. al. (2020) posit that, hybrid entrepreneurship brings a new employment phenomenon into entrepreneurial practices and theory. The state of developing economies like Nigeria has forced the people to think and rethink on a source of income to achieve their personal and family goals. Hybrid entrepreneurship is more of a creative and supportive entry mode into full entrepreneurship (Dzomonda & Fatoki, 2018; Xi, Block, Lasch, Robert & Thurik, 2017; Raffiee & Feng, 2014). As noted by Viljamaa and Varamäki (2015), hybrid entrepreneurship serves as a vantage platform for learning which allows individuals to develop relevant entrepreneurial skills for entrepreneurial venture (Solesvik, 2017) and establish the market demand for their offering (Raffiee & Feng, 2014). In Africa at large, poverty has been viewed as part of the continental characteristics due to the high level of unemployment and high rate of inflation. Nigeria as a developing economy in Africa is faced with a series of challenges that have led to poor living conditions which has resulted in poverty. Umaru and Ibrahim (2019) point that, poverty level is identified when the daily income in an economy is less than $1.25 or exactly $1.25 and contextual observation indicates that most daily income in Nigeria is not up to $1.25. This signifies the evidence of poverty in Nigerian economy which requires vigorous efforts from the government to curb this menace. Nigeria is rated second in the list of poorest countries all over the world in recent times. Among the reasons accounted for this high level of poverty is the orientation towards paid employment. Most Nigerians that finish secondary school or university are looking for paid employment. This was going on well after the country’s independence in 1960 till say 1980s. But the situation changes as the jobs are no longer able to sustain the population depending on the income (salary). The population has grown geometrically. Besides, the jobs are no longer there. The few who are still having the jobs are now considering how to sustain themselves, thus, giving birth to hybrid entrepreneurship. Necessity of the present situation (economic situation) could be attributed to the development of hybrid entrepreneurship in Nigeria even though this is not the case in many other climes. Poverty and degree of need is making many that even have jobs to think out of the box on how to survive, hence hybrid entrepreneurship. According to Olajide (2018), several concerted efforts have been made by the federal government of Nigeria to reduce the level of poverty through entrepreneurship programs. Among the programs introduced include Small and Medium-Size Enterprise Development Association of Nigeria (SMEDAN), The Industrial Development Coordinating Centre (IDDC), Family Economic Advancement Programme (FEAP), Youth Enterprise with Innovation in Nigeria (YouWIN), Industrial Training Institute (ITI), Young Entrepreneur Scheme (YES), Trader Moni among others. Yet, there is still a strong existence of high poverty level in Nigeria and poverty still dominates many parts of the globe (Ezeanyeji et al 2019; Umaru & Ibrahim, 2019; Hussain & Noma, 2019; Alvarez & Barney, 2014). Thus, the question of what other means can be done for poverty to be reduced in Nigeria arises. In the opinion of Bogenhold (2018), hybrid entrepreneurship could make an individual entrepreneurial billionaire. Therefore, it could be postulated that hybrid entrepreneurship could aid in reducing poverty level. Thus, it is important to see how hybrid entrepreneurship has been used as a tool for poverty reduction in Nigeria. II. Hybrid Entrepreneurship Luc et. al. (2018) see hybrid entrepreneurship as the process that involves combination of self-employment and wage labor. It is a situation whereby an individual combines both paid job and entrepreneurial venture together. It implies that an individual works and still engages in self-employment activities. Hammarström and Nylén (2014) see hybrid entrepreneurship as the means which a person tries out a business idea and business entrepreneurial skills while still maintains wage-work in order to alleviate personal financial risk. According to Dzomonda and Fatoki (2018), hybrid entrepreneurship is a situation where individuals integrate their time in both self and wage employment. In other words, the individual has a business of his own while he/she still works as an employee. Thus, hybrid entrepreneurship could be the mixture of an individual being an employee as well as employer in different organizations. Hammarström and Nylén (2014) further see hybrid entrepreneurship as method for minimization of personal risk, which involves entrepreneurial venture and paid employment. Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu Olajide Olubayo Thomas, Olajide Idowu Okunbanjo Emerging Markets Journal | P a g e 4 3 Hybrid entrepreneurship has been confused with part-time entrepreneurship. Some studies state that hybrid entrepreneurship is the same with part-time entrepreneurship (Luc et al 2018; Schulz, Urbig, & Procher, 2016; Petrova, 2012) while some studies state that hybrid entrepreneurship is different from part-time entrepreneurship (Dzomonda & Fatoki, 2018; Nordstrom, 2015; Hammarström & Nylén, 2014; Viljamaa & Varamäki, 2014; Folta, Delmar, & Wennberg, 2010; Petrova, 2010; Kim, Aldrich & Keister, 2006). Nordstrom (2015) is of the view that part time entrepreneurship covers a series of alternatives compared to hybrid entrepreneurship. Part-time entrepreneurship could make an individual to mix unemployment and entrepreneurship at a go or it could be having a series of portfolio businesses (Nordstrom, 2015; Petrova, 2012). Part-time entrepreneur is recognized by having a normal wage job while balancing the work with personal business at the same time (Petrova, 2010). An individual can only engage in part-time entrepreneurship in as much as the individual is not under a paid or wage job while practicing entrepreneurship. Specifically, the combination of paid employment and self-employment is known to be hybrid entrepreneurship (Kurczewska et al., 2020; Dzomonda & Fatoki, 2018). Hammarström and Nylén (2014) narrate that, hybrid entrepreneurship is aimed at attempting business or entrepreneurial idea while still under employment contract with an organization. This is a strategy in which an individual tries his/her entrepreneurial abilities and the opportunities of his/her ideas in order to minimize personal financial risk while still keeping a wage-work. Hybrid entrepreneurship serves as an understanding of the practice of entrepreneurship without worrying about income or profit. In other words, it is pre- entrepreneurship practice. Therefore, a hybrid entrepreneur may have the intention of becoming a full entrepreneur (Kurczewska et al., 2020). Part-time entrepreneurship has the sole aim to complement the current income of an individual. A part-time entrepreneur does not have the aim of becoming a full entrepreneur unlike a hybrid entrepreneur. A part-time entrepreneur sticks to the wage job while being able to meet his/her other financial obligations with a side venture (Hammarström & Nylén, 2014). Basically, hybrid entrepreneurship is associated with the early stages of entrepreneurial venture development. It is worth noting that, establishing a part-time business is not necessarily indicative of a desire to enter full-time entrepreneurship (Viljamaa, Varamäki, & Joensuu-Salo, 2017). Hybrid entrepreneurship could be established based on passion motive, changes in employment market, job insecurity or uncertainty, creative challenges, contract job status, non-standard working arrangements, government policy, desire for autonomy or independence, a need for social recognition and additional income among others (Dzomonda & Fatoki, 2018; Luc et al., 2018; Clark, 2018; Solesvik, 2017; Popiel, 2017; Schulz et al., 2016; Kelley, Singer, & Herrington, 2016; Kuhn, 2016; Florida, 2014). III. Poverty Reduction Poverty is seen as a condition of low-income or low consumption (Ezeanyeji et al., 2019). Poverty is the inability of individuals in an economy to attain a minimum standard of living (World Bank Report, 1990). Ibotoye, Atoyebi and Sufian (2015) refer poverty as the absence of command over basic consumption needs such as insufficient food, clothing and/or shelter while Olayemi (1995) refers to the poor as those having no access to the basic necessities of life such as food, clothes and economic obligation. They lack skillful employment, have few, if any economic assets and sometime lack self-esteem. World Bank (2011) sees poverty as an economic situation where people lack plenty income to obtain certain minimal levels of health services, food, housing, clothing and education which are necessities for the standard of living. Therefore, poverty is the incapacity of people in an economy to meet basic needs of life. Ikechukwu, Onyi and Edeh (2017) divide poverty into three categories: Absolute poverty, relative poverty and subjective poverty. Absolute poverty is a situation where an individual is constrained with limited financial resources and he is unable to meet his/her basic needs of life such as food, clothes, shelter and health. Relative Poverty is a situation where an individual’s income is less than the average income of the population in the society being considered. Subjective poverty is based on the individual perception about an individual’s standard of living. Poverty reduction is the alleviation of level of poverty in an economy. Ezeanyeji et. al. (2018) identify Agricultural Development Programmes (ADPs), Directorate of Food, Roads and Rural Infrastructure (DFRRI), National Agricultural Land Development Authority (NALDA), Better Life Programme (BLP), National Directorate of Employment (NDE), People’ Bank of Nigeria (PBN), Agricultural Credit Guarantee Scheme, River Basin Development Authorities, Community Bank and Interventions from International Development Agencies among others as policies or strategies employed since the inception of Nigeria to reduce poverty. IV. Lazear Theory of Entrepreneurship Lazear Theory of Entrepreneurship is also known as jack-of-all-trades theory. It is propounded by Edward Lazear in 2002. Astebro and Thompson (2011), Backes- Gellner and Moog (2013), Hartog, Van Praag and Van Der Sluis (2010), Stuetzeret, Obschonka, Davidsson and Schmitt-Rodermund (2013), Wagner (2003) and Wagner (2006) are among the supporters of Lazear Theory of Entrepreneurship. Lazear Theory of Entrepreneurship indicates that, entrepreneurs should be jacks-of-all-trades in order to have broad and diverse knowledge, skills and professional experience in different aspects of business (Kurczewska & Mackiewicz, 2020). The theory explains an individual selection into entrepreneurship (Hsieh, Parker and van Praag, 2017), which signifies alternative perception to the risk aversion theory. The theory considers that individuals with a balanced but diversified combination of skills and knowledge, collected from diverse sources and domains, are more likely to become entrepreneurs, therefore capturing hybrid entrepreneurship in theory and in practice. Despite the relevance of Lazear Theory of Entrepreneurship to the practice and concept of hybrid entrepreneurship, Kurczewska and Mackiewicz (2020) state that this theory fails to capture how entrepreneurs as jacks-of-all-trades become successful. Thus, Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu Hybrid Entrepreneurship as a Tool for Poverty Reduction in Nigeria: A Review of Literature with Qualitative Research and Content Analysis Page |44| Emerging Markets Journal entrepreneurial performance is not captured in the theory. In the same vein, it is also pointed that self-efficacy is not included in Lazear Theory of Entrepreneurship as a factor that predicts individual entry into entrepreneurship. Lazear did not include it in his set of factors explaining entrepreneurial career (Tegtmeier, Kurczewska & Halberstadt, 2016). V. Conceptual Framework The conceptual framework of research is indicated in Figure 1 below. As it is observed, three factors which are paid employment, hybrid entrepreneurship and self- employment affect poverty reduction. Figure 1. Conceptual Framework of Research Source: Researchers’ Conceptual Framework, 2021 VI. Research Methodology The study adopts qualitative research approach and employs exploratory research design. The paper makes use of secondary data and the data are retrieved via review of the past studies on hybrid entrepreneurship. The study employs a critical review on past studies on the subject matter so as to identify the relationship that exists between hybrid entrepreneurship and poverty reduction. Content analysis is used to analyze the observations in the studies reviewed. Review of Studies on Hybrid Entrepreneurship and Poverty Reduction The review of studies on hybrid entrepreneurship and poverty reduction via qualitative research and content analysis are listed below in Table 1: Table 1: Studies on Hybrid Entrepreneurship and Poverty Reduction S/ N Author Name and Year Title Methodo logy Findings Gap 1 Demir, Werner and Kraus (2020) Hybrid entrepreneur ship: A systematic literature review Qual. research approach, syste matic literature review and content analysis The study concludes that there is a missing consensus in applied terminolog y, criteria and conception of hybrid Poverty reduc tion is not capture d in the study and it is not a paper authore d by entre. in theory and practice Nigeria n research ers 2 Aladeje bi (2020) Hybrid Entrepreneu rship: Combining Employmen t and Self Employmen t in Nigeria Quant. research approach, purposive sampling and descrip tive statistics Most of the hybrid business owners were employees in the public sector and they are approxi mately 31- 50 years old. Also, autonomy and desire for extra income are the main reasons for running hybrid entrepre neurship Poverty reduc tion is not conside red in the study, althoug h this research was conduc ted in Nigeria 3 Ferreira, (2020) Experiential learning theory and hybrid entrepre neurship: Factors influencing the transition to full-time entre preneurship Sec. data analysis and thematic analysis It indicated hybrid entrep reneurship as an effective learning ground and path toward full-time entre preneurship The study is not empiric ally conduc ted and poverty reduc tion is not capture d. More over, the study is not conduc ted in Nigeria 4 Kurcze wska et. al. (2020) Peculiarity Of Hybrid Entre preneurs- Revisiting Lazear’s Theory of Entre preneurship Survey research design, Primary data and Logistic regressio n Professiona l and managerial experiences enhance hybrid entre preneurship than education experience The study does not focus on poverty level reduc tion and it is not done in Nigeria 5 Jayathila ka & Sachitra (2020) Examine the Drivers to Engage in Hybrid Entre preneurship in Sri Lanka Quant. research approach, primary data and binary logistic regressio n Sufficient skills acquired and receiving family support have statistically significant influence for engaging in hybrid entre preneurship Poverty reduc tion is not capture d and it is not exa mined in Nigeria 6 Kurcze wska and Mackie wicz (2020) Are jacks- of-all-trades successful entre preneurs? Revisiting Lazear’s theory of Survey research design, primary data and Logit regressio n Individuals with more diverse educational and prof. background tend to have both The study focuses on characte r istics of hybrid Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu Olajide Olubayo Thomas, Olajide Idowu Okunbanjo Emerging Markets Journal | P a g e 4 5 entre preneurship greater chances of starting a company and being successful as hybrid entre. compared to managerial experience entre. without conside r ing how it can influenc e poverty level in Nigeria 7 Iram, Bilal & Rasool (2020) Hybrid Entre preneurship escalating in women academi cians Qual. approach, snowball sampling technique , primary data via interview and thematic analysis Most teachers are facing financial constraints due to low salary packages, single parenting and time flexibility towards hybrid entre preneurship The study does not capture how hybrid entre preneur ship can be used to reduce poverty. Also, it is not conduc ted in Nigeria 8 Luc et. al. (2018) Hybrid entre preneurship: Employees climbing the entre preneurial ladder Descrip tive research design, simple sampling, primary data and descrip tive statistics . Employees’ progress on the entre preneurial ladder is stimulated by soft support and high wage job Poverty reductio n is not capture d in the paper and it is not conduc ted in Nigeria 9 Indudew i (2015) Success factors of hybrid entre preneurs: Case study of Universitas Ciputra academician Qual. research approach, case study, expl. research design, and content analysis It is revealed that all academi cians need their lecturing job to be successful as hybrid entre preneurs as well as good communi cation skills The study does not focus on poverty reduc tion and it is not done in Nigeria 10 Schulz, Urbig, & Procher, (2017) The role of hybrid entrepreneur ship in explaining multiple job holders' earnings structure Sec. data from British Househld . Panel Survey and logit regressio n Self- employ ment is more profitable to earnings than paid employ ment The study is not done in Nigeria and poverty reduc tion is not capture d 11 Folta, Delmar and Wennbe rg (2010) Hybrid entrepreneur ship in Sweden Primary data, multi- stage sampling and EPRO (Entre preneuria l Processes Database) Hybrid entry influences self-employ ment The study is not done in Nigeria and poverty reduc tion is not capture d 12 Xi, Block, Lasch, Mode of entry into hybrid Syste matic sampling It is indicated that Poverty reduc tion is Robert and Thurik (2017) entrepreneur ship: New venture start-up versus business takeover method, primary data and regressio n analysis educational attainment and manage ment experience are associated with new venture start-up not capture d in the paper and it is not conduc ted in Nigeria 13 Hussaini & Ibrahim (2019) Entrepreneu r ship as a viable tool for poverty reduction in Nigeria Quant. research approach, primary data, syste matic sampling and partial least square Only entre. education and attraction are significantl y related to poverty reduction. Intention and knowledge are not related to poverty reduction Despite being done in Nigeria, the study does not capture hybrid entrepre neurshi p 14 Ikechuk wu, Onyi and Edeh (2017) Entrepre neurship and Poverty Reduction in Enugu State, Nigeria Survey research design, primary data, and inferentia l statistics There is a positive and significant relationship between entrepre neurship and poverty reduction The study is conduc ted in a state of Nigeria. The study does not capture hybrid entre preneur ship 15 Ezeanye ji et al (2019) Entre preneurship developmen t and poverty reduction in Nigeria Qual. research approach, narrative- textual case study (NTCS) and content analysis The study shows that the state of depravation can only be remedied through the develop ment of entrepreneu rship skills among the citizens Despite being done in Nigeria, the study does not capture hybrid entre preneur ship 16 Ibitoye, Atoyebi and Sufian (2015) Entrepreneu r ship and poverty reduction in Nigeria Stratified random sampling, primary data and correlatio n analysis There exists a positive and significant relationship between entrepreneu rship and poverty reduction The study is not extende d to hybrid entre preneur ship 17 Cannon (2019) Hybrid entre.s’ intention to transition to full entrepreneur ship: A career approach Survey research design, primary data and regressio n analysis The study informs that hybrid entrepreneu rship is a start-up to career develop ment into transitionin g to full entrepre neurship The study is not done in Nigeria and poverty reduc tion is not capture d 18 Hammar stro & Nylen (2014) Pursuing hybrid entre preneurship in academia Qual. research approach and content analysis The study reveals that hybrid entre preneurship is a good method for someone The study exclude d poverty reduc tion. Also, it Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu Hybrid Entrepreneurship as a Tool for Poverty Reduction in Nigeria: A Review of Literature with Qualitative Research and Content Analysis Page |46| Emerging Markets Journal who wishes to lower their financial risks when developing their own business is done in Nigeria 19 Ferreira, Ferguso n & Pitt (2019) Entre preneurial marketing and hybrid entrepreneur ship: The case of JM Reid Bamboo Rods Case study research design primary data via obser vation and content analysis Entre preneurial marketing enhances the success of an individual hybrid entrepre neurship Poverty reduc tion is not conside red in the study and the study is not exami ned in Nigeria 20 Solesvik (2017) Hybrid entrepre neurship: How and Why Entrepre neurs Combine Employmen t with Self- Employmen t Case study research design and content analysis Hybrid entre preneurship is a viable path for people willing to realize their entre preneurial ambitions in a lower- risk and organic way The study is not done in Nigeria and poverty reduc tion is not capture d 21 Kritskay a, Kolverei d and Isaksen (2017) Hybrid entre preneurs: Character istics and achieve ments Descrip tive research design, primary data via question naire and descrip tive statistics The study indicates that most of the new businesses are started by hybrid The study is not done in Nigeria and poverty reduc tion is not capture d 22 Dzomon da & Fatoki (2018) Demystify ing the motivations towards hybrid entre preneurship among the working populace in South Africa Quant. research, conven ient sampling method, primary data and t-tests There is no significant gender difference on hybrid entrepre neurship. It further showed that participants are motivated mainly by both a desire to supplement income and derive non- monetary benefits The study fails to capture poverty reduc tion. Also, it is not carried out in Nigeria 23 Petrova (2012) Entrepre neurial dynamics and hybrid entrepreneur ship Primary data, descrip tive statistics and inferentia l statistics Financial constraints do not impact hybrid entrepre neurship. Whilst, changes in the labor market may be driving The study fails to capture poverty reductio n. Also, it is not carried out in Nigeria individuals towards hybrid entre preneurship 24 Raffiee and Feng (2014) Small-scale entry via hybrid entre preneurship as a real option Qual. research approach and descrip tive statistics Hybrid entre preneurs could choose to either invest heavily in their entre preneurial project or exit easily from it, depending upon the early returns The study fails to capture poverty reduc tion. Also, it is not carried out in Nigeria 25 Viljama, & EVaram äki (2015) Do Persistent and Transitory Hybrid Entrepreneu rs Differ? Survey research design, primary data via question naire and descrip tive statistics It is indicated that not all hybrid entre preneurs are intended to transit to full entre preneurship The study fails to capture poverty reduc tion. Also, t is not carried out in Nigeria 26 Schulz, Urbig & Procher (2016) Hybrid entre preneurship and public policy: The case of firm entry deregulation Survey research design, primary data via question naire and logit regressio n Hybrid entre preneurs are more responsive to changes in entry regulation than full- time entrepre neurs. However, educated hybrid entrepre neurs respond to changes more than the uneducated The study fails to capture poverty reduc tion. Also, it is not carried out in Nigeria 27 Cestino (2019) Hybrid entre preneurship as the pursuit of valued forms of work Qual. research design, multi case- study research design and thematic analysis It is revealed that both monetary and non- monetary benefits are the factors that enhance hybrid entre preneurship The study fails to capture poverty reduc tion. Also, it is not carried out in Nigeria Source: Authors’ own compilation VII. Findings and Discussion One of the contemporary issues in entrepreneurship is hybrid entrepreneurship. Hybrid entrepreneurship is very important for the survival of individuals, especially in developing economies like Nigeria. The challenges in Nigerian economy have made living conditions for Nigerians difficult to bear. The high rate of inflation as a Volume 11 No 1 (2021) | ISSN 2158-8708 (online) | DOI 10.5195/emaj.2021.216 | http://emaj.pitt.edu Olajide Olubayo Thomas, Olajide Idowu Okunbanjo Emerging Markets Journal | P a g e 4 7 result of high prices of goods and services, high rent and high transportation costs among other have weakened the purchasing power of Nigerians. The findings show that, hybrid entrepreneurship helps individual to comfortably meet their daily expenses. It is a source of additional income, but not yet popular in Nigeria. Additionally, it is observed that there are studies on hybrid entrepreneurship in the globe. Most of the studies are not done in Africa, especially in Nigeria as they are conducted in developed countries. The study of Aladejebi (2020) on hybrid entrepreneurship does not capture poverty reduction. Relatively, the studies of Hussaini and Ibrahim (2019), Ezeanyeji et. al. (2019), Ikechukwu, Onyi and Edeh (2017), Ibitoye, Atoyebi and Sufian (2015) examine entrepreneurship and poverty reduction in Nigeria, but hybrid entrepreneurship is not captured. This is a strong evidence that, more about hybrid entrepreneurship need to be examined. It is obvious that much focus has not been given in the literature to how hybrid entrepreneurship could reduce poverty level, because most of the studies are from developed economies where poverty is not a major issue of concern. The few studies in Nigeria and probably in developing economies are only looking for how entrepreneurship activities could be promoted. What is prevalent in Nigeria and many other developing economies is part-time entrepreneurship which has not enhanced poverty reduction as such, because there is still evidence of poverty from the contextual observation. This could be as a result of the legal framework as it operates in Nigeria. Besides, the medical and legal professionals running self-employment with official jobs are not tolerated as such. Government and many private organizations see this as divided interest, which will jeopardize the main interest of organization. Also, it could be as a result of poor risk taking ability and poor income that are not sufficient to engage in extra activity. VIII. Conclusion Literature shows that, hybrid entrepreneurship has elevated some notable businessmen and businesswomen to achieve their personal goals for becoming billionaires of the world. For instance, Steve Wozniak as the founder of Apple worked in a paid job while running his personal business. Similarly, Pierre Omidyar was a paid personnel at a software development firm when he founded e-bay. Thus, one could see that hybrid entrepreneurship will lift individuals out of poverty to the point of becoming millionaires if embraced. It is concluded that, hybrid entrepreneurship is a determinant practice to reduce the rate of poverty in Nigeria because of availability of many untapped resources and opportunity. Thus, hybrid entrepreneurship has several advantages in terms of economics and finance. Therefore, the study recommends that hybrid entrepreneurship should be encouraged among the citizens in Nigeria to reduce the poverty level. Also, every Nigerian should try to get involved or engage in other businesses to augment their income for achieving their personal and family goals. This would create jobs and minimize the poverty level. References Astebro, T., & Thompson, P. (2011). Entrepreneurs, jacks of all trades or hobos? Research Policy, 40(5), 637-649. Aladejebi, O. (2020). Hybrid entrepreneurship: Combining employment and self-employment in Nigeria. Archives of Business Research, 8(7). 404-418. Alvarez, S.A., & Barney, J.B. (2014). Entrepreneurial opportunities and poverty alleviation. 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