A STUDY ON THE INFLUENCE OF ENTREPRENEURIAL ACTIVITIES ON THE SOCIOECONOMIC ADVANCEMENT OF YOUNG GRADUATES IN CAMEROON

CHAPTER ONE INTRODUCTION 1.1 Background of the Study Entrepreneurship has increasingly gained global recognition as a fundamental catalyst for socioeconomic development. Across the world, its importance continues to grow in both academic discourse and policy implementation. According to Anochie et al. (2018), six critical elements underpin production and socioeconomic development: land, labor, capital, materials, technology, and entrepreneurship. In management contexts, these are commonly framed as the 6 M’s—man, money, materials, machines, methods, and management. These resources are essential in the production of goods and services; however, they cannot yield optimal outcomes in isolation. They must be efficiently coordinated, mobilized, and integrated under effective leadership. This is where management and entrepreneurship serve as vital human inputs that bring these production factors into synergy. In today’s global economic environment, creating sustainable employment opportunities is a major developmental priority. Entrepreneurs are instrumental in driving job creation, thereby contributing significantly to national prosperity—especially in developing countries like Cameroon. In a context where youth unemployment and underemployment remain high, and economic opportunities are limited, entrepreneurship emerges as a viable alternative pathway for inclusive growth, poverty reduction, and economic advancement. Despite various policy initiatives and governmental support mechanisms aimed at fostering entrepreneurship, the sector has yet to witness widespread expansion in Cameroon. Entrepreneurship refers to the identification and exploitation of business opportunities through vision, planning, and strategic execution (Peverelli & Song, 2020). Entrepreneurs are characterized by their attentiveness to emerging opportunities and their capacity to transform ideas into viable ventures. This process of discovery involves the ability to recognize prospects that may go unnoticed by others. Entrepreneurs then marshal the necessary resources—human, financial, and material—to actualize these opportunities. As noted by Audretsch (2019), entrepreneurship encompasses both this alertness and the capacity for strategic action. Carayannis, Grigoroudis, Campbell, Meissner, and Stamati (2018) further emphasize that entrepreneurs create value by combining resources innovatively within or beyond existing organizational structures. The World Bank estimates Cameroon’s youth unemployment rate at approximately 8.3%, with widespread underemployment further compounding the problem. Limited access to formal employment opportunities leaves many young graduates economically vulnerable and unable to contribute meaningfully to national development. This situation is particularly troubling as a disengaged and underutilized youth workforce leads to economic losses through unrealized productivity and reduced output. Additionally, high youth unemployment narrows the tax base and contributes to ongoing losses in indirect tax revenue (Bellemare & Poulin-Simon, 2019). Social consequences include heightened insecurity, especially in urban areas, and increased healthcare-related costs due to mental and physical health issues. To address these challenges, entrepreneurship education and training have been introduced at both university and vocational levels, aiming to equip young graduates with the necessary skills to initiate and sustain business ventures. Against this backdrop, this study seeks to investigate the impact of entrepreneurship on the socioeconomic development of young graduates in Cameroon. 1.2 Statement of the Problem Many young people hold aspirations of advancing through higher education and securing stable employment within the formal sector. However, in many low-income countries, the reality is that only a limited percentage of youths will access post-secondary education, and an even smaller proportion will find formal employment. Consequently, a significant number of young individuals are left with no choice but to create their own means of livelihood. Unfortunately, the prevailing educational system often does not adequately prepare them for entrepreneurial careers. A major challenge for policymakers, international donors, and non-governmental organizations lies in developing strategies that not only equip young people with entrepreneurial competencies but also motivate them to launch businesses that offer both financial independence and personal fulfillment (Bacq et al., 2018). Equally critical is the need to support the scalability and sustainability of these businesses so that they can generate employment for others and foster broader community-level development. This issue gained international prominence during the Millennium Summit in 2000, where world leaders committed to implementing strategies aimed at providing youth with meaningful employment opportunities (Avori, 2018). More recently, the International Labour Organization (ILO) has proposed job creation as a priority within global development agendas, recommending entrepreneurship as a key policy intervention. Furthermore, enhancing educational outcomes and employment opportunities is seen as a vital response to the growing threat of violent extremism. In light of these concerns, promoting entrepreneurial development among young people has become an urgent policy imperative. Accordingly, this study aims to examine the impact of entrepreneurship on the socioeconomic development of young graduates in Cameroon 1.3  Objectives of the Study The main purpose of this study is a study on the Influence of Entrepreneurial Activities on the Socioeconomic Advancement of Young Graduates in Cameroon.  Specifically, the study will; i.Find out the relationship between entrepreneurship and socioeconomic development. ii.Find out the various contributions of entrepreneurship on the socioeconomic development of young graduates in Cameroon. iii.Find out the factors influencing the sustainability of entrepreneurship in Cameroon. 1.4 Research Questions The following questions have been prepared for the study: i.What is the connection between entrepreneurship and socioeconomic development? ii.What are the diverse ways in which entrepreneurship contributes to the socioeconomic development of recent graduates in Cameroon? iii.What factors impact the long-term viability and sustainability of entrepreneurship initiatives in Cameroon? 1.5 Research Hypotheses Ho: There is no significant relationship between entrepreneurship and socioeconomic development of young graduates in Cameroon Ha: There is a significant relationship between entrepreneurship on socioeconomic development of young graduates in Cameroon 1.6 Significance of the Study The findings of this study will Additionally, subsequent researchers will use it as a literature review. This means that other students who may decide to conduct studies in this area will have the opportunity to use this study as available literature that can be subjected to critical review. Invariably, the result of the study contributes immensely to the body of academic knowledge with regard to the impact of entrepreneurship on socioeconomic development of young graduates in Cameroon.  1.7 Scope of the study The scope of this study is the Influence of Entrepreneurial Activities on the Socioeconomic Advancement of Young Graduates in Cameroon. Empirically, this study will find out the relationship between entrepreneurship and socioeconomic development, find out the various contributions of entrepreneurship on the socioeconomic development of young graduates in Cameroon and find out the factors influencing the sustainability of entrepreneurship in Cameroon. Geographically, the study will be delimited to youths of  Bamenda, Cameroon 1.8 Limitation of the study In the course of carrying out this study, the researcher experienced some constraints, which included time constraints, financial constraints, language barriers, and the attitude of the respondents. In addition, there was the element of researcher bias. Here, the researcher possessed some biases that may have been reflected in the way the data was collected, the type of people interviewed or sampled, and how the data gathered was interpreted thereafter. The potential for all this to influence the findings and conclusions could not be downplayed.  More so, the findings of this study are limited to the sample population in the study area, hence they may not be suitable for use in comparison to other schools, local governments, states, and other countries in the world.  1.9 Definition of Terms Entrepreneurship: is the act of creating, organizing, and managing a business venture, typically with the goal of making a profit. Socioeconomic development: is the progress and improvement in the social and economic aspects of a society or community. It involves various factors such as income levels, employment opportunities, education, healthcare, infrastructure, standard of living, and overall quality of life. Young Graduates: are individuals who have recently completed their formal education, typically at the tertiary level (such as university or college), and have obtained a degree or diploma.