It Is Digital Entrepreneurs’ Time
Nearly half the world’s population or 3.5 billion people presently own a smartphone. This number grows even further to 4.78 billion people or 61.2% of the global population, if you include feature phones. Throw in laptops and other PCs, plus the fact that the world is going through a global pandemic that is making more people stay home than ever before, and the conditions for digital entrepreneurship are ripe. In fact, it is not a stretch to claim that the age of digital entrepreneurship is upon us!
Transforming Landscapes, Creating Opportunities
Digital start-ups are not capital intensive, nor are they entirely location dependent. This is creating major opportunities, particularly in emerging and frontier markets. BPO hubs and IT Zones are popping up everywhere, and many countries are marketing themselves as destinations for digital nomads.
With the ongoing pandemic, there are plenty of opportunities for new ecommerce businesses and associated suppliers and vendors. Plus, digital entrepreneurs are finding innovative solutions to our problems, both new and old, while adapting to the new normal environment created by the pandemic. Thus, they are creating value chains and wealth for themselves and their communities.
Necessary Infrastructure Now Available
With the rapid growth of highspeed internet, mobile internet and more powerful smartphones even at the low-end, the infrastructure to sustain an age of digital entrepreneurship is finally in place. For example, in India, the Digital Index has grown by 56% from 2014 to 2017. That means that there are now over 650 million internet users in the world’s second largest emerging market. Similar conditions exist in other emerging and frontier markets too, not to mention much higher levels in developed markets.
Unlimited PotentialDigital entrepreneurship provides unlimited potential for reach and penetration. Furthermore, it is opening up avenues for unrestrained innovation, which is ideal for creating a sustainable and prosperous future for all. International trade opportunities too are plentiful and digital entrepreneurs are ideally placed to capitalize on this. By partnering with banks such as Euro Exim Bank, who specialize in international trade and digital & alternative payments, digital entrepreneurs are also in a position to engage in global trade confidently, freely and with ease.