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Digital Transformation: Catalyzing Rural Entrepreneurship in the 21st Century
Abstract
The digital era has brought significant changes to the business landscape, but it has also exacerbated inequality and posed challenges to achieving the Sustainable Development Goals (SDGs). This research employed exploratory sequential mixed methods to investigate how digitalization impacts rural entrepreneurship. Results highlight the diverse opportunities that digital transformation and technological advancements have created in rural entrepreneurship. These opportunities include the growth of family-run businesses, improved employment prospects, and enhanced regional economic development. By harnessing local humanist knowledge, a business model that promotes social solidarity and economic transformation has the potential to mitigate uncertainty and inequality. Consequently, this study provides empirical evidence and recommendations for institutional and social reforms, contributing to our understanding of the latest innovation theories associated with Kontratieff Schumpeter's wave in institutional and social entrepreneurship.
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