EFFECTS OF ENTREPRENEURIAL DEVELOPMENT ON PERFORMANCE GROWTH OF SELECTED SMALL AND MEDIUM ENTERPRISES (SMES) IN FEDERAL CAPITAL TERRITORY, (FCT) ABUJA

ABSTRACT This study examined the effects of entrepreneurial development on the performance of selected Small and Medium Enterprises (SMEs) in the Federal Capital Territory (FCT), Abuja. The specific objectives of the study were to investigate the effect of risk-taking on performance of SMEs in FCT Abuja; assess the effects of motivative skill on performance of SMEs in FCT Abuja; evaluate the effect of decision-making ability on performance of SMEs in FCT Abuja; determine the effects of leadership style on performance of SMEs in FCT Abuja and identify the challenges faced by SMEs in accessing entrepreneur development programs in Abuja. A descriptive survey research design was adopted to gather data for the study through the administration of questionnaire. The population of the study consisted of 5,690 SMEs in Federal Capital Territory, Abuja and Guilford and Frutcher (1973) formula was used to determine the sample of 374 selected employees of the ministries. Out of 400 copies of questionnaire distributed to respondents but 374 copies of questionnaire were validly and completely returned and this was used for the study. The study used both descriptive and inferential statistic tools to analyse the collected data. The findings provide valuable insights into the current state of SMEs in the FCT and highlight opportunities for enhancing their development. The results revealed a varied level of awareness and participation in entrepreneurial development programs among SMEs in the FCT, Abuja. While some programs, such as SMEDAN Entrepreneurship Training Programs and ACCI Entrepreneurship Workshops, were well-known and attended, others, like AEA Business Development Services and Women Entrepreneurship Development Programs, lacked recognition and engagement. This underscores the importance of targeted outreach and information dissemination to ensure SMEs are aware of and can benefit from available support initiatives. The study concluded that the participating SMEs reported positive impacts of entrepreneurial development programs on various aspects of their operations and there is strong positive relationship confirmed by the regression analysis further underscores their importance in driving SME performance growth. The study advocates for a holistic approach to supporting SMEs in the FCT, Abuja, that addresses the identified challenges while leveraging the positive impacts of entrepreneurial development programs. The study recommended that efforts should be intensified to raise awareness about existing entrepreneurial development programs, particularly those with lower levels of recognition and participation.