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A new report on inclusive growth and e-commerce has revealed that the digital economy drives inclusive entrepreneurship opportunities. The report identified several unique ways in which the digital economy enables more, fairer economic development, based on case study evidence.

The benefits reported included: the democratising of geographical advantage through e-commerce, both for those in poorer economies and between rural and urban entrepreneurs; the reduction of start-up costs for micro and small businesses e-commerce provides; and, increased access to financial services digital technologies have empowered.

The importance of digital technologies, such a cloud storage, on-demand solutions and remote banking, were repeatedly highlighted in the report as enterprise gamechangers – considerably reducing the physical and economic demands of starting a business and particularly important for mobilising entrepreneurs in locations that are remote, or have problematic infrastructure for making the business a success.

Other findings included the role e-commerce played in creating opportunities for young people which would otherwise not have existed. The accessibility of e-commerce enabled young innovators to ‘go for it’ in a relatively low-risk environment, as well as to test ideas on a small scale. An additional benefit of this is an increased number of people pursuing work that is rewarding and meaningful to them personally at an earlier stage in life than previous generations.

The report’s researchers commented, “The core of inclusive growth is to effectively provide equitable development opportunities for every section of society.

“The substantial progress in new technology and new business models since (the) 2000’s, such as internet, internet of things, big data, cloud computing, e-commerce and artificial intelligence, has laid down a solid foundation for realizing the full potential of inclusive growth.”

You can read the full report here.

 


 

Digital economy drives inclusive entrepreneurship
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