Determinants Affecting the Sustainable Development of Small and Medium-Sized Enterprises in a Developing Economy: A Cognitive Modeling Case Study of Cameroon

The recent revolutionary shifts in the global economy have generated new prospects for the growth and development of national economies through technological innovation while also exacerbating issues of macroeconomic instability, social inequality, and poverty. At present, small and medium-sized enterprises (SMEs) have catalyzed the advancement of the majority of national economies. The subject of the study is the conditions and determinants affecting the sustainable development of SMEs in Cameroon. The purpose of this research is to identify the key factors of development and suggest a comprehensive model of the sustainable development of the SME sector in Cameroon, taking into account the structural features of the national economy. The relevance is determined by modern trends of globalization and technological innovations affecting national economies, especially developing countries such as Cameroon, along with its vital economic and social problems. The scientific novelty involves developing a cognitive model that examines the cross-impact of factors influencing the development of SMEs, based on the theory of fuzzy sets, and substantiating practical mechanisms to enhance the effectiveness of government policies supporting SMEs. The authors used methods of systems approach, expert assessment method, fuzzy set theory, cognitive modeling, comparative analysis, and statistical methods of data verification. The authors concluded that there is structural dualism in Cameroon’s economy in the disproportion between the high-tech financial sector and archaic forms of entrepreneurship. A fuzzy cognitive map has been developed, indicating seven important influential factors with maximum centrality, including the level of production infrastructure development and the success of anti-corruption strategy, among others. The necessity for a program-targeted strategy has been substantiated, focusing on the establishment of a sustainable investment climate, the development of public-private partnerships, and the enhancement of the financial culture within the business environment. The existence of systemic contradictions has been proven, namely regarding the exclusion of SMEs from investment growth in infrastructure.

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