Digital Entrepreneurship and Economic Development of South-East Nigeria

Abstract

Digital entrepreneurship is a key driver of economic growth, job creation, and innovation. Its success relies on entrepreneurial behavior, culture, strategies, and a strong innovation ecosystem supported by collaboration among governments, industries, businesses, educational institutions, and NGOs. Advancing digital technologies reshape traditional business models, foster innovation, and enhance operational efficiency. These advances enhance enterprise competitiveness, contributing to the broader competitiveness of both local and national economies. The transition of traditional economies into digital ones presents a significant opportunity for accelerated growth, particularly driven by small and medium-sized enterprises in the development of South East, Nigeria. This study aims to explore the impact of digital entrepreneurship on the development of the economy of South Eastern, Nigeria. This study is a conceptual review. The research is grounded in social network theory, social capital theory, and institutional theory to achieve its objectives. By reviewing existing literature, the study concludes that fostering a digital entrepreneurship culture is essential for a nation's economic progress in a globally competitive business environment. Among its recommendations, the study emphasizes that the Nigerian government should create a conducive business environment to support digital entrepreneurship and empower traditional entrepreneurs in their digital transformation journey.