EFFECT OF ENTREPRENEURIAL COMPEENCIES ON THE SUCCESS OF SME'S IN BENUE STATE: A STUDY OF SM'S IN MAKURDI METROPOLI
Abstract
ABSTRACT
Small and Medium Enterprises (SMEs) play a vital role in economic growth, employment generation, and poverty reduction in developing economies. However, the success of SMEs largely depends on the competencies possessed by entrepreneurs managing these enterprises. This study examined the effect of entrepreneurial competencies on the success of SMEs in Benue State, with particular focus on SMEs operating within Makurdi metropolis. The study specifically investigated how managerial, innovation, opportunity recognition, and financial management competencies influence SME performance. A descriptive survey research design was adopted. Data were collected through structured questionnaires administered to SME owners and managers across Makurdi metropolis. Descriptive statistics and regression analysis were employed for data analysis. Findings revealed that entrepreneurial competencies significantly influence business growth, profitability, sustainability, and competitive advantage of SMEs. The study concluded that entrepreneurial competencies are critical determinants of SME success. It recommended continuous entrepreneurial training, improved managerial skill acquisition, and institutional support programs to strengthen SME performance in Benue State.
Keywords: Entrepreneurial Competencies, SMEs, Business Success, Innovation, Management Skills.
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