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Barriers to technology innovation among nascent entrepreneurs in deprived areas
Problems and perspectives in management, 2023-09, Vol.21 (3), p.614-628
[Peer Reviewed Journal]
ISSN: 1727-7051 ;EISSN: 1810-5467 ;DOI: 10.21511/ppm.21(3).2023.48
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Title:
Barriers to technology innovation among nascent entrepreneurs in deprived areas
Author:
Rajiani, Ismi
;
Kot, Sebastian
;
Michałek, Janusz
;
Gede Riana, I
Subjects:
emerging economy
;
government support
;
human resources
;
nascent entrepreneurs
;
technology innovation
Is Part Of:
Problems and perspectives in management, 2023-09, Vol.21 (3), p.614-628
Description:
Entrepreneurs in economically challenged areas frequently rely on financial and technical incentives and aid from public and local governments to embrace and apply new technology. This study aims to investigate the challenges to technology innovation that these businesses face. Based on a survey of 422 nascent entrepreneurs in Banjarmasin, Indonesia, an empirical model of the determinants influencing the adoption of technology innovation is developed. The current study used factor analysis as a methodological tool to identify the critical impediments to technology innovation. The study’s findings highlighted five major barriers. More financial resources are needed: as nascent entrepreneurs in these locations frequently need help to get the necessary funds to support their creative endeavors. There is a need for more skilled individuals: new businesses need help to locate and keep employees with the appropriate technological skills. Unfavorable economic conditions exacerbate the problem by making it difficult for new entrepreneurs to access markets and resources that could support their innovative efforts. Furthermore, there needs to be more collaborative efforts, with nascent entrepreneurs in these places frequently needing more collaboration and networking possibilities, expanding their potential to develop. Finally, the study identifies insufficient government support as a barrier to assisting entrepreneurs in adopting novel technologies. These hurdles can be efficiently overcome by government assistance, private-sector investment, and collaborative efforts among nascent entrepreneurs.
Publisher:
LLC "CPC "Business Perspectives
Language:
English
Identifier:
ISSN: 1727-7051
EISSN: 1810-5467
DOI: 10.21511/ppm.21(3).2023.48
Source:
DOAJ Directory of Open Access Journals
AUTh Library subscriptions: ProQuest Central
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