ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA: OVERCOMING CHALLENGES AND EXPANDING OPPORTUNITIES IN THE DIGITAL ECONOMY

https://doi.org/10.5281/zenodo.12607420%20

Authors

  • Festus Ndubuisi Nkwo Department of Accountancy, Faculty of Management Sciences, Gregory University, Uturu, Abia State, Nigeria
  • Dr. (Mrs.) Rosemary Uche Eneiga Department of Public Administration, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT), Enugu

Keywords:

Entrepreneurship development, digital infrastructure, regulatory barriers, opportunities, challenges, access to finance & Technologies

Abstract

Entrepreneurship development in Nigeria plays a critical role in fostering economic growth, especially within the context of the digital economy. Despite its significance, entrepreneurship faces multifaceted challenges that hinder its growth and impact. This study investigates the barriers that impede entrepreneurship in Nigeria and proposes strategies to surmount these obstacles while expanding opportunities. The research employed a descriptive survey design methodology, with data primarily gathered through questionnaire administration. The study encompassed a total population of 3156 individuals, and a sample size of 355 was determined using the Cochran formula. Of these, 302 respondents returned accurately completed questionnaires. Descriptive statistics were utilized for data presentation and analysis, while correlation analysis was employed to test the hypotheses. The findings revealed a strong positive correlation between access to digital infrastructure and entrepreneurship activity, indicating that regions with better digital resources exhibit higher levels of entrepreneurial dynamism. Conversely, higher regulatory barriers are associated with reduced growth and success of digital entrepreneurship ventures, highlighting the need for streamlined regulatory frameworks. While entrepreneurial intentions show minor variations between digital and non-digital sectors, the overall similarity suggests a shared entrepreneurial mindset across different sectors in Nigeria. Based on these findings, the study recommends prioritizing investments in digital infrastructure, streamlining regulatory processes, and implementing sector-specific support programs to foster a conducive environment for entrepreneurship and stimulate economic growth.

Published

2024-07-01

How to Cite

Nkwo, F. N., & Eneiga , R. U. (2024). ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA: OVERCOMING CHALLENGES AND EXPANDING OPPORTUNITIES IN THE DIGITAL ECONOMY . SADI International Journal of Management and Accounting (SIJMA), 11(3), 19–32. https://doi.org/10.5281/zenodo.12607420

Issue

Vol. 11 No. 3 (2024): July-September

Section

Original Peer Review Articles
Copyright & Licensing

Copyright (c) 2024 SADI International Journal of Management and Accounting (SIJMA)

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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