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

Nkwo, Festus Ndubuisi and Eneiga, Rosemary Uche (2024) ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA: OVERCOMING CHALLENGES AND EXPANDING OPPORTUNITIES IN THE DIGITAL ECONOMY. ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA: OVERCOMING CHALLENGES AND EXPANDING OPPORTUNITIES IN THE DIGITAL ECONOMY, 11 (3). pp. 19-32. ISSN 2837-1844|

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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.

Item Type: Article
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculty of Management and Social Sciences
Depositing User: Cynthia Ugwuoti
Date Deposited: 15 May 2025 13:37
Last Modified: 15 May 2025 14:40
URI: http://eprints.gouni.edu.ng/id/eprint/4550

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