Digital Entrepreneurship And Sustainable Business Models: Evidence Amongst Smes In Lagos State, Nigeria

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Olufemi Samuel Omoyele , Solomon Adejare Babarinde , Oluwayemisi Kadijat Adeleke , Tina Imoiseme Aigbedion


Digital entrepreneurship is critical for developing the ever-changing business environment and economic growth. Existing literature has established how digital entrepreneurship could drive firm performance. However, how digital entrepreneurship could drive a sustainable business model in an emerging economy like Nigeria is an ongoing discussion in the existing literature. This study, therefore, investigates the effect of digital entrepreneurship and sustainable business models in small and medium enterprises in Lagos State, Nigeria.The survey research design was adopted in the study. Three hundred and eighty-seven small and medium enterprise managers were surveyed. The results were analysed using regression analysis. The analysis reveals that In addressing the study's first objective, the findings reveal that most of the digital entrepreneurs in Lagos State are ground-up digital entrepreneurs. The empirical result indicates that digital technologies provide unique combinations of sustainable business model components such as integrated value proposition, comprehensive value creation, and multifaceted value capture. This article describes the advantages and disadvantages of digital technologies and provides useful information for designing sustainable business models. The study concludes that there is no one-size-fits-all solution to sustainability via digital technology. A comprehensive but impartial approach to integrating digital technologies to boost the effect of sustainable business models is recommended in this context.

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