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Author(s): Ernest Jebolise Chukwuka (Ph.D.), Peter Abude (Ph.D.).

Volume/Issue: Volume 7 , Issue 2 (2024)

Abstract:

The study assessed digital entrepreneurship, the risks, and the business viability in Nigeria. The study's specific goal is to ascertain the degree of viability and risk assessment of digital entrepreneurship in Nigeria’s economic space. Digital entrepreneurship is a 21st century business model because it’s an enterprise that relies only on a digital platform that is pursued and managed by a digital entrepreneur. Digital entrepreneurs rely on internet resources to create and expand their digital service enterprises. The study's sample included 400 respondents who were chosen from Delta State's small and medium-sized business owners and proprietors. The adopted descriptive survey method and simple percentages were used to evaluate the data. The overall conclusion of the study is that digital entrepreneurship is a highly effective and viable business model in Nigeria, is fantastic at bringing goods and services to customers' doorsteps, and provides business owners with a platform for brand development and content creation as well as business growth. The study identified five major risks associated with digital entrepreneurship: cyber security risk, information security and privacy risk, fraud risk, copyright violation risk, and infringement of trademark risk. The study confirmed that digital entrepreneurship creates business value at a lower cost of production when compared to the cost of operating physically established businesses or other means of doing business offline. The study also concludes empirically that digital entrepreneurship has a low possibility of loss but a high profit with the ability to manage the four identified risks.

Keywords:

Digital entrepreneurship, Digital entrepreneurship risks, Business viability, Digital marketing, Profitability.

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