CLOUD TECHNOLOGY AND ITS IMPLICATION FOR ENTREPRENEURSHIP

Abstract

In terms of driving positive social and economic transformation and new product development, entrepreneurship is vital. While many things influence the rate of new business formation in any given society, digital technologies, and especially cloud computing, have been among the most game-changing innovations since the industrial revolution. This research aims to examine cloud computing and its effects on business in emerging economies like Nigeria. For this qualitative study, we surveyed previously conducted research on the impact of cloud computing/technology on creating new businesses. This paper draws on an examination of existing literature to conclude that while businesses can expand internationally without cloud computing (for example, by using the services of expensive local data centres that are unable to scale and setting up offices and distribution hubs in the many nations and regions where they operate), the rise of cloud computing is here to stay and can be considered as the most lucrative and cost-effective strategy for SMEs to expand internationally. On the other hand, company owners, managers, and supervisors in growing economies like Nigeria need to take into account a number of factors and ramifications.