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2024 | OriginalPaper | Chapter

16. Conclusion: Informal Economy as a Springboard for Innovation and Entrepreneurship Development in Sub-Saharan Africa

Authors : Ayodotun Stephen Ibidunni, Oyedele Martins Ogundana, Maxwell Ayodele Olokundun

Published in: Innovation, Entrepreneurship and the Informal Economy in Sub–Saharan Africa

Publisher: Springer Nature Switzerland

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Abstract

This chapter draws our concluding thoughts on the book project titled “Innovation, Entrepreneurship and the Informal Economy in sub–Saharan Africa: A Sustainable Development Agenda”. Specifically, the chapter discussed the informal economy as a springboard for entrepreneurship development and innovation in sub-Saharan Africa (SSA). Informal economy SMEs in the SSA region represent a formidable force within the economic and social context of the region. However, these SMEs are constrained by the paucity of formal institutional responsiveness to implementing a practical entrepreneurship and innovation ecosystem. Therefore, we adopted the institutional logic theory and synthesized it into a self-reliance theorization as a workable option for the sustainability of the Informal economy SMEs’ entrepreneurship and innovation ecosystem in SSA. We drew the curtains by supporting the notion of ecosystem resilience as an adaptive pathway to self-reliance theorization and ensuring the success of both the entrepreneurship and innovation ecosystem and the firms operating in the informal economy of SSA.

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Title: Conclusion: Informal Economy as a Springboard for Innovation and Entrepreneurship Development in Sub-Saharan Africa
Authors: Ayodotun Stephen Ibidunni
Oyedele Martins Ogundana
Maxwell Ayodele Olokundun
Publisher: Springer Nature Switzerland
Book: Innovation, Entrepreneurship and the Informal Economy in Sub–Saharan Africa
Print ISBN: 978-3-031-46292-4

Electronic ISBN: 978-3-031-46293-1

Copyright Year: 2024
DOI: https://doi.org/10.1007/978-3-031-46293-1_16