CONDITIONS FOR BUSINESS ECOSYSTEM FORMATION IN CAMEROON

The article is devoted to the conditions for the application of the ecosystem approach as a tool for organizing and developing business and restructuring the economy in developing countries. The basics of the ecosystem approach are outlined. Macroeconomic conditions for creating and doing business in the Republic of Cameroon are analyzed using the PEST model. The results of the PEST analysis characterize the political, economic and social situation in the country and the level of its technological development. Based on the results of the PEST analysis, conclusions were drawn about the peculiarities of the formation of business ecosystems in Cameroon and proposals were formulated to ensure favorable conditions for business development. It is concluded that the ecosystem approach to business development is promising in key sectors of the economy — agriculture and industry. The industries, ecosystems of which are able to exert the strongest impact on the general level of development of the national economy, were identified. Particular attention is paid to the role and tasks of the state in the creation and functioning of business ecosystems. It was revealed that a high level of corruption is a systemic obstacle, overcoming which is a necessary condition for the successful functioning of business ecosystems. It is shown that the connections of the ecosystem participants are realized in the process of material and information flows exchange. It was revealed that the modern level of technology to a large extent allows the formation of business ecosystems that will help to eliminate the uneven development of the country’s regions and smooth out the existing imbalances. The development of business ecosystems is tied to the solution of historically conditioned employment problems that are characteristic of most African countries. The results of the analysis may be of interest to researchers studying the countries of the African continent and the problems of structural reorganization of the economies of developing countries. The formulated conclusions and recommendations can be taken into account when developing development programs.

developing countries, economic development, business ecosystem, PEST analysis, economic environment of business, social environment of business, economic structure, economic policy, technological development, African countries, Cameroon.

Somga Bitchoga N. F. Conditions for business ecosystem formation in Cameroon. Business. Education. Law, 2020, no. 4, pp. 204–211. DOI: 10.25683/VOLBI.2020.53.434.