The Influence of Social Media Usage on Entrepreneurial Opportunity Recognition: A Perspective from Ratanakiri Province, Kingdom of Cambodia

Abstract

Although social media has become a crucial part of an entrepreneur’s strategies and practices, little research on social media usage as related to entrepreneurial opportunity recognition has been done in the context of Cambodia. Focusing on Ratanakiri province in Cambodia, a thriving and dynamic area particularly attractive to investors, this study seeks to investigate the influence of social media usage on entrepreneurial opportunity recognition. Multiple regression was used to analyze the data collected data from a survey questionnaire distributed to 376 respondents. Of the six dimensions of social media usage applied to this study, five were found to have a significant influence on entrepreneurial opportunity recognition. Access to Information and Cost Efficiency had the highest p-value, followed by Technical Adaptability, Product Improvement & Development, and Promotion with an equal p-value. However, the sixth dimension, Network Building, failed to significantly influence entrepreneurial opportunity identification. The results have implications for future research and practice and significantly contributes to the body of knowledge on social media, entrepreneurial opportunities, and related fields of study.