Entrepreneurship skills in university students to improve local economic development

Abstract

Local economic development is becoming an increasingly important activity as it addresses the economic and employment challenges faced by all developing countries. Therefore, the purpose of this study was to determine the entrepreneurial skills of university students for the promotion of local economic development. A quantitative, non-experimental, cross-sectional, and interpretative causal approach was adopted for the research. The sample consisted of 240 students chosen through non-probabilistic convenience sampling. Questionnaires were used as a tool for data collection, validated by expert judgment in the field, with a reliability of 98.2% determined by the Cronbach’s alpha coefficient, and the survey was employed as a technique. Inference results provided by ordinal logistic regression, using the model goodness-of-fit test, χ2 = 203.902, allowed demonstrating the explanatory variable. The goodness of fit for deviation was p = 0.099, determining the presence of an effect corresponding to the Nagelkerke predictor = 64.4% of the explained variability in the dependent variable. It was concluded that improving the entrepreneurial skills of university students has a significant positive effect on enhancing local economic development. Therefore, harnessing the entrepreneurial skills of university students requires a combination of educational approaches, financial support, networks, and specific policies. Collaboration among different stakeholders, including government, the private sector, and academic institutions, is essential to achieve a significant impact on local economic development.