IMPACT OF GIG ECONOMY ON VENTURE CREATION MINDSET OF ASPIRING ENTREPRENEURS IN IMO STATE.
Chibiko, Ngozi Nkechinyere
Dept Of Entepreneurship Studies, Faculty Of Management Sciences. Nnamdi Azikiwe University, Awka, Anambra State.
Okeke, Amaka
Technology And Vocational Education, Faculty Of Education. Nnamdi Azikiwe University , Awka.
This study explores the impact of gig economy on venture creation mindset of aspiring entrepreneurs in Nigeria. The rise of gig economy also known as side hustling has significantly impacted and fundamentally changed the landscape of work, particularly for aspiring entrepreneurs as the traditional 9 to 5 job was no longer viewed as the sole path to success. The study analyzed how gig work can be a stepping stone for aspiring entrepreneurs, fostering valuable skills, market insights, and financial security during the initial stages of business development. Furthermore, it examines the potential downsides, including the risk of gig work becoming a trap, delaying or hindering entrepreneurial ventures due to income insecurity and lack of traditional benefits. Conclusions were drawn and relevant recommendations were made which includes that aspiring entrepreneurs should prioritize gig opportunities that align with their venture creation goals. This can help them to develop essential skills required for running a successful business. Government, NGOs, and educational institutions should provide training and support programs to equip aspiring entrepreneurs with the necessary skills to succeed in the gig economy.
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Barrios, J. M., Hochberg, Y. V., & Yi, H. (2020). Launching with a parachute: The gig economy and entrepreneurial entry. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3557279 .
Berger, T., Frey, C. B., Levin, G., & Danda, S. R. (2019). Uber happy? Work and well-being in the “Gig Economy.” Economic Policy, 34(99), 429-477. https://doi.org/10.1093/epolic/eiz007.
Brinkley, I. (2016). In search of the 'Gig-Economy'. http://www.theworkfoundation.com/projects/in-search-of-the-gigeconomy.
Browder, R. E., Aldrich, H. E., & Bradley, S. W. (2019). The emergence of the maker movement: Implications for entrepreneurship research. Journal of Business Venturing, 34(3), 459-476.
Burke, A., & Cowling, M. (2020). The role of freelancers in entrepreneurship and small business. Small Business Economics, 55(2), 389-392.
Burke, R. J., & Ng, E, (2006). The changing nature of work and organizations: Implications for human resource management. https://www.researchgate.net/publication/222432322.
Burtch, G., Carnahan, S. & Greenwood, B. N. (2018). Can you gig it? An empirical examination of the gig economy and entrepreneurial activity. Management Science, 64(12), 5461-5959.
Chalmers, D., & Matthews, R. (2019). Good to be bad: Should we be worried by the sharing economy? Strategic Change, 28(6), 403-408.
Chesley, N. (2014). Information and communication technology use, work intensification Collective Process of User Entrepreneurship. Strategic Entrepreneurship Journal. 1(1) .
Damian, D. & Manea, C. (2019). Causal recipes for turning fin-tech freelancers into smart entrepreneurs. Journal of Innovation & Knowledge, 4(3), 196-201.
De Stefano, V. (2015). The Rise of the “Just-In-Time Workforce”: On-Demand Work, Crowd work, and Labour Protection in the “Gig Economy”.
Dobson, B. 2017. Gainful gigging Employment services for the platform economy. Harvard Law & Policy Review. 10(2),479.
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Dyal-Chand, R. 2015. Regulating Sharing: The Sharing Economy as an Alternative Economy: Overview, Economic Effects and Regulatory Issues.
Emir, A. & Selwyn, N. M. 2016. Selwyn's law of employment (Nineteenth ed.). files/10749125/crowd_work_in_europe_draft_report_last_version.pdf.
Fos A. Vyacheslav S. Naser H. Ankit K. & Jordan N. (2019). “Gig-Labour: Trading safety nets for steering wheels.”
Gupta, N. (2014). Understanding Indian Crowd workers. https://www.gov.uk/government/publications/good-work-the-taylor-review.
Hall, Jonathan V. & Alan B. (2017) “An analysis of the labour market for Uber’s driver-partners in the United States.” ILR Review 71: 705–732.
He, X. (2019). Digital entrepreneurship solution to rural poverty: Theory, practice and policy implications. Journal of Developmental Entrepreneurship, 24(1), 195.
Hernández-Sánchez, B. R., Cardella, G. M., & Sánchez-García, J. C. (2020). Psychological factors that lessen the impact of COVID-19 on the self-employment intention of business administration and economics’ students from Latin America. International Journal of Environmental Research and Public Health, 17(15), 5293.
Huws, U., Spencer, N., & Joyce, S. (2016). Crowd work in Europe. Indian Crowd workers and employee strain and distress’ Work. Journal of Employment and Society. 28(4), pp.589-610.
Josserand, E., & Kaine, S. (2019). Different directions or the same route? The varied identities of ride-share drivers. Journal of Industrial Relations, 61(4), 549-573.
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Kuhn, K. M., & Maleki, A. (2017). Micro-entrepreneurs, dependent contractors, and Understanding online labour platform workforces. Academy of Management Perspectives, 31(3), 183-200.
Laukkanen, M., & Tura, N. (2020). The potential of sharing economy business models for sustainable value creation. Journal of Cleaner Production, 12 (253), 20004.
LeRoy, Stephen F. & Larry D. Singell Jr. (1987).“Knight on risk and uncertainty.” Journal of Political Economy 95 (1987): 394-406.
Martin, C. A. (2005). From high maintenance to high productivity: https://smallbusiness.house.govof-modern-working-practices.
Pankov, S., Velamuri, V. K., & Schneckenberg, D. (2021). Towards sustainable entrepreneurial ecosystems: Examining the effect of contextual factors on sustainable entrepreneurial activities in the sharing economy. Small Business Economics, 56, 1073-1095.
Ravenelle, A. J. (2019). “We’re not uber:” control, autonomy, and entrepreneurship in the gig economy. Journal of Managerial Psychology, 34(4), 269-285.
Rogers, B. 2016. Employment rights in the platform economy: Getting back to basics. Oxford: Oxford University Press.
Rosenblat, A., & Stark, L. (2016). Algorithmic labour and information asymmetries: A case study of Uber’s drivers. International Journal of Communication, 10, 3758-3784.
Schmidt, F. (2017). Digital Labour Markets in the Platform Economy. Bonn: Friedrich-Ebert Stiftung.
Schwellnus, C., Geva, A., Pak, M., & Veiel, R. (2019). Economics Department Gig Economy Platforms: Boon or Bane? www.oecd.org/eco/ working papers.
Shah, S.K., & Tripsas, M. (2007). The Accidental Entrepreneur: The Emergent and Capitalist System. School of Law Faculty Publications 90(2), 241-309.
Stewart, A., & Stanford, J. (2017). Regulating work in the gig economy: What are the options? Economic and Labour Relations Review, 28(3), 420-437.
Sundararajan, A. (2014). Peer-to-Peer Businesses and the Sharing (Collaborative) and employee strain and distress’ Work. Employment and Society. 28(4), 589-610.
Taylor, M, Marsh, G, Nicole, D, & Broadbent, P (2017). Good Work: The Capitalist System. School of Law Faculty Publications. 90(2), 241-309.
Todolí-Signes, A. (2017). The “gig economy”: employee, self-employed or the need for a special employment regulation? Transfer, 23(2), 193-205.
Wiklund, J., Nikolaev, B., Shir, N., Foo, M. Der, & Bradley, S. (2019). Entrepreneurship and well-being: Past, present, and future. Journal of Business Venturing, 34(4), 579-588.
Yang, H., Hu, Y., Qiao, H., Wang, S., & Jiang, F. (2020). Conflicts between business and government in bike sharing system. International Journal of Conflict Management, 31(3), 463-487.
Barrios, J. M., Hochberg, Y. V., & Yi, H. (2020). Launching with a parachute: The gig economy and entrepreneurial entry. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3557279 .
Berger, T., Frey, C. B., Levin, G., & Danda, S. R. (2019). Uber happy? Work and well-being in the “Gig Economy.” Economic Policy, 34(99), 429-477. https://doi.org/10.1093/epolic/eiz007.
Brinkley, I. (2016). In search of the 'Gig-Economy'. http://www.theworkfoundation.com/projects/in-search-of-the-gigeconomy.
Browder, R. E., Aldrich, H. E., & Bradley, S. W. (2019). The emergence of the maker movement: Implications for entrepreneurship research. Journal of Business Venturing, 34(3), 459-476.
Burke, A., & Cowling, M. (2020). The role of freelancers in entrepreneurship and small business. Small Business Economics, 55(2), 389-392.
Burke, R. J., & Ng, E, (2006). The changing nature of work and organizations: Implications for human resource management. https://www.researchgate.net/publication/222432322.
Burtch, G., Carnahan, S. & Greenwood, B. N. (2018). Can you gig it? An empirical examination of the gig economy and entrepreneurial activity. Management Science, 64(12), 5461-5959.
Chalmers, D., & Matthews, R. (2019). Good to be bad: Should we be worried by the sharing economy? Strategic Change, 28(6), 403-408.
Chesley, N. (2014). Information and communication technology use, work intensification Collective Process of User Entrepreneurship. Strategic Entrepreneurship Journal. 1(1) .
Damian, D. & Manea, C. (2019). Causal recipes for turning fin-tech freelancers into smart entrepreneurs. Journal of Innovation & Knowledge, 4(3), 196-201.
De Stefano, V. (2015). The Rise of the “Just-In-Time Workforce”: On-Demand Work, Crowd work, and Labour Protection in the “Gig Economy”.
Dobson, B. 2017. Gainful gigging Employment services for the platform economy. Harvard Law & Policy Review. 10(2),479.
Donovan, S. A., Bradley, D. H., & Shimabukuru, J. O. (2016). What Does the Gig Economy Mean for Workers? https://digitalcommons.ilr.cornell.
Dyal-Chand, R. 2015. Regulating Sharing: The Sharing Economy as an Alternative Economy: Overview, Economic Effects and Regulatory Issues.
Emir, A. & Selwyn, N. M. 2016. Selwyn's law of employment (Nineteenth ed.). files/10749125/crowd_work_in_europe_draft_report_last_version.pdf.
Fos A. Vyacheslav S. Naser H. Ankit K. & Jordan N. (2019). “Gig-Labour: Trading safety nets for steering wheels.”
Gupta, N. (2014). Understanding Indian Crowd workers. https://www.gov.uk/government/publications/good-work-the-taylor-review.
Hall, Jonathan V. & Alan B. (2017) “An analysis of the labour market for Uber’s driver-partners in the United States.” ILR Review 71: 705–732.
He, X. (2019). Digital entrepreneurship solution to rural poverty: Theory, practice and policy implications. Journal of Developmental Entrepreneurship, 24(1), 195.
Hernández-Sánchez, B. R., Cardella, G. M., & Sánchez-García, J. C. (2020). Psychological factors that lessen the impact of COVID-19 on the self-employment intention of business administration and economics’ students from Latin America. International Journal of Environmental Research and Public Health, 17(15), 5293.
Huws, U., Spencer, N., & Joyce, S. (2016). Crowd work in Europe. Indian Crowd workers and employee strain and distress’ Work. Journal of Employment and Society. 28(4), pp.589-610.
Josserand, E., & Kaine, S. (2019). Different directions or the same route? The varied identities of ride-share drivers. Journal of Industrial Relations, 61(4), 549-573.
JPMorgan Chase & Co (2016). The Online Platform Economy: What is the growth trajectory? https://www.jpmorganchase.
Knight, Frank H (1921). “Risk, uncertainty and profit.” New York: Houghton-Mifflin
Kuhn, K. M., & Maleki, A. (2017). Micro-entrepreneurs, dependent contractors, and Understanding online labour platform workforces. Academy of Management Perspectives, 31(3), 183-200.
Laukkanen, M., & Tura, N. (2020). The potential of sharing economy business models for sustainable value creation. Journal of Cleaner Production, 12 (253), 20004.
LeRoy, Stephen F. & Larry D. Singell Jr. (1987).“Knight on risk and uncertainty.” Journal of Political Economy 95 (1987): 394-406.
Martin, C. A. (2005). From high maintenance to high productivity: https://smallbusiness.house.govof-modern-working-practices.
Pankov, S., Velamuri, V. K., & Schneckenberg, D. (2021). Towards sustainable entrepreneurial ecosystems: Examining the effect of contextual factors on sustainable entrepreneurial activities in the sharing economy. Small Business Economics, 56, 1073-1095.
Ravenelle, A. J. (2019). “We’re not uber:” control, autonomy, and entrepreneurship in the gig economy. Journal of Managerial Psychology, 34(4), 269-285.
Rogers, B. 2016. Employment rights in the platform economy: Getting back to basics. Oxford: Oxford University Press.
Rosenblat, A., & Stark, L. (2016). Algorithmic labour and information asymmetries: A case study of Uber’s drivers. International Journal of Communication, 10, 3758-3784.
Schmidt, F. (2017). Digital Labour Markets in the Platform Economy. Bonn: Friedrich-Ebert Stiftung.
Schwellnus, C., Geva, A., Pak, M., & Veiel, R. (2019). Economics Department Gig Economy Platforms: Boon or Bane? www.oecd.org/eco/ working papers.
Shah, S.K., & Tripsas, M. (2007). The Accidental Entrepreneur: The Emergent and Capitalist System. School of Law Faculty Publications 90(2), 241-309.
Stewart, A., & Stanford, J. (2017). Regulating work in the gig economy: What are the options? Economic and Labour Relations Review, 28(3), 420-437.
Sundararajan, A. (2014). Peer-to-Peer Businesses and the Sharing (Collaborative) and employee strain and distress’ Work. Employment and Society. 28(4), 589-610.
Taylor, M, Marsh, G, Nicole, D, & Broadbent, P (2017). Good Work: The Capitalist System. School of Law Faculty Publications. 90(2), 241-309.
Todolí-Signes, A. (2017). The “gig economy”: employee, self-employed or the need for a special employment regulation? Transfer, 23(2), 193-205.
Wiklund, J., Nikolaev, B., Shir, N., Foo, M. Der, & Bradley, S. (2019). Entrepreneurship and well-being: Past, present, and future. Journal of Business Venturing, 34(4), 579-588.
Yang, H., Hu, Y., Qiao, H., Wang, S., & Jiang, F. (2020). Conflicts between business and government in bike sharing system. International Journal of Conflict Management, 31(3), 463-487.