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International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456nternational Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101
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to the number of challenges that confront them in to the number of challenges that confront them in from an international perspective, play a vital from an international perspective, play a vital role in
rural regions worldwide. The challenges lead to the rural regions worldwide. The challenges lead to the the creation of national marketplace employment the creation of national marketplace employment
success of ambitious start-ups remaining low, with ups remaining low, with which is amongst the largest in the world, is likewise which is amongst the largest in the world, is likewise
factors such as market sizes, government policies and factors such as market sizes, government policies and largely supported by SMMEs, and the advanced largely supported by SMMEs, and the advanced
geographical profiles are continuing to geographical profiles are continuing to influence their technology employed in both China and India has technology employed in both China and India has
long-term performance. There is ostensibly little term performance. There is ostensibly little assisted in industrialising their vast rural areas aassisted in industrialising their vast rural areas and
difference between rural and urban enterprises in difference between rural and urban enterprises in allowed national penetration into widely diverse allowed national penetration into widely diverse
terms of their structure, of how such businesses are terms of their structure, of how such businesses are international markets.
organised and managed, organised and managed, and of how the and of how the
characteristics of individual entrepreneurs are characteristics of individual entrepreneurs are 7. Pros and Cons of rural entrepreneurship Pros and Cons of rural entrepreneurship
exhibited. Thus, it would appear that there is no xhibited. Thus, it would appear that there is no digitalization:
specific category for, or definition of, rural specific category for, or definition of, rural Pros:
entrepreneurs, beyond being individuals who manage entrepreneurs, beyond being individuals who manage 1. Diminish the business costs. Diminish the business costs.
business ventures in rural settings. 2. Give strength to home-grown entrepreneurs. grown entrepreneurs.
3. Right of entry to world markets. Right of entry to world markets.
6. The magnitude of rural entrepreneurship The magnitude of rural entrepreneurship 4. Speeding up the manufacturing enterprise.Speeding up the manufacturing enterprise.
digitalisation 5. Marketing connections.
The digitalisation of rural entrepreneurship is of sation of rural entrepreneurship is of 6. Improved business transactions.Improved business transactions.
d
of f
customer ustomer
service ervice
tremendously important for the development and tremendously important for the development and 7. Wider Wider distribution istribution o c s
competitiveness of rural businesses. Digitalisation is a competitiveness of rural businesses. Digitalisation is a improvements.
highly effective strategic growth strategy for highly effective strategic growth strategy for
businesses in emerging markets of the word, and there businesses in emerging markets of the word, and there Cons:
is much evidence that, in many countries, the ence that, in many countries, the 1. Sky-scraping setting up costs.scraping setting up costs.
improvement of entrepreneurial activities is regarded improvement of entrepreneurial activities is regarded 2. Technologically advanced skills are required.Technologically advanced skills are required.
as a strategy to boost national productivity and job as a strategy to boost national productivity and job 3. Not have of safe cyber security.er security.
creation, which also improves their economic creation, which also improves their economic 4. Lack of privacy and data protection laws. Lack of privacy and data protection laws.
independence. Entrepreneurial actions strengthen independence. Entrepreneurial actions strengthen
personal and collective capabilities amongst local ve capabilities amongst local The cost benefits and importance of digitalisation of The cost benefits and importance of digitalisation of
communities, and SMEs are currently regarded as communities, and SMEs are currently regarded as rural entrepreneurship must be clearly understood and rural entrepreneurship must be clearly understood and
mechanisms for economic growth and equitable mechanisms for economic growth and equitable be encouraged as this will be an important be encouraged as this will be an important
development in creating labour intensive, capitaldevelopment in creating labour intensive, capital- promotional tool for strengthening company romotional tool for strengthening company brand.
p
saving initiatives that ensure the creation of many new saving initiatives that ensure the creation of many new The concept of digitalisation will improve and bring The concept of digitalisation will improve and bring
jobs. Small-scale businesses play a survival role for s play a survival role for new changing trends in emerging markets including new changing trends in emerging markets including
r
poorer households in the development of selfpoorer households in the development of self- rural industries and scale up product development and ural industries and scale up product development and
p
confidence, business and other skills, and the socioconfidence, business and other skills, and the socio- product diversification, as well as promoting idea roduct diversification, as well as promoting idea
economic encourage the women. Small businesses economic encourage the women. Small businesses generation through use of social media.generation through use of social media.
provide provide employment employment opportunities opportunities for for rural rural
communities, specifically by minimising mcommunities, specifically by minimising migration of Conclusion:
rural populations to urban areas, improving standards rural populations to urban areas, improving standards It concludes that due to the various challenges such as It concludes that due to the various challenges such as
of living for local communities and promoting rural of living for local communities and promoting rural lack of broadband availability and electricity in many lack of broadband availability and electricity in many
tourism-related related art art activities. activities. Enterprise Enterprise and and rural places, there is a lot of improvements need to be rural places, there is a lot of improvements need to be
entrepreneurship are the drivers of economic growth entrepreneurship are the drivers of economic growth done to improve rural business of rural communities done to improve rural business of rural communities
in rural, which indicate that the ongoiin rural, which indicate that the ongoing challenges as well. It has been found that rural entrepreneurs are d that rural entrepreneurs are
barriers arriers
w
facing traditional rural sectors, and the future success facing traditional rural sectors, and the future success also also f faced aced with ith b i including ncluding poor oor
p
m
of rural economies, are inextricably linked to the of rural economies, are inextricably linked to the telecommunications telecommunications i infrastructure, nfrastructure, management anagement
capacity rural entrepreneurs, possess to innovate and capacity rural entrepreneurs, possess to innovate and incompetence, lack of marketing skills and incompetence, lack of marketing skills and
identify new business opportunities that create jobs identify new business opportunities that create jobs insufficient entrepreneurial knowledge, therefore, it is insufficient entrepreneurial knowledge, therefore, it is
and income in these areas. Entrepreneurial Entrepreneurial suggested that to government and privatsuggested that to government and private sector
development in the form of rural SMMEs has also development in the form of rural SMMEs has also should be encouraged to work together to improve coshould be encouraged to work together to improve co-
emerged as a strong agent for socioemerged as a strong agent for socio-economic ordination and its policy development for the rural ordination and its policy development for the rural
diversification. Small enterprises are not only diversification. Small enterprises are not only places. National governments should establish places. National governments should establish
important in contributing to local economies, but, important in contributing to local economies, but, steering agencies responsible for championing and steering agencies responsible for championing and

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