Page - 290 - in Digital Entrepreneurship - Impact on Business and Society

university courses) is essential.Another challenge is the absenceofonlinepayment systems, which causes issues during delivery of products. Cultural differences among areas of consumer behavior and societal norms are obstacles to the growth and expansion of digital companies in various developing countries. Lebanon’s weak digital infrastructure, slow Internet, and limited industry are all barriers to digital entrepreneurship. Another challenge is the absence of online payment sys- tems,which causes issues during delivery of products for the success of an online business. Therefore, recruiting the right human capital with the right skill-set, backgroundandeducation (self-teachingoruniversitycourses) is essential.Cultural differences among areas are obstacles to the growth and expansion of digital companies in various developing countries. Lebanon’s weak digital infrastructure, slow Internet, and limited industry are all barriers to digital entrepreneurship. In addition, as seen in the first case study, high tax rates on importing goods create resistance among digital entrepreneurs to import and in turn to sell their products. The opportunities of digital entrepreneurship in developing countries include family andpersonal connections as a sourceof social, human, andfinancial capital. Other prospects include an increase in the users of digital devices and excelling in Table 1 Challenges and opportunities for digital entrepreneurship in developing countries Challenges Opportunities Suggestions for improvement Inaccessibility to thenecessary funds, due to the scarcity of venture capital markets and “business angels” Family as a source of social, human, and financial capital Encourage funding through both the public sphere and private channels Lack of policies and regulations that protect and support e-commerce and digital entrepreneurs Personal connections as a source of social and human capital State reforms aimed at mandatingmore protective laws for digital entrepreneurs Weak digital infrastructure Rise in the number of technology users Improving the digital infrastructure, such as providing 5G Internet infrastructure, and introducing and legalizing the “e-signature” Deficiency in digitally competent and experienced labor capital Education on digital entrepreneurship (technical skills, online marketing, etc.) Filling the digital skills gap through educational programs in universities and schools Lack of online payment systems Selling niche products Introducing online payment systems Cultural differences among target audiences in developing countries N-A Producing relevantcontentand market offerings Weak institutional structures and corruption N-A Takingmeasures that fight corruption and ensure equal opportunity and legitimate competition Challenges andOpportunities for Digital Entrepreneurship… 299