Title: Entrepreneurial Competence And Success Of Small And Medium Enterprises (Smes) In Anambra State
Authors: Nwankwo Alexander Odilichukwu, B. Chima Onuoha
Volume: 9
Issue: 10
Pages: 336-346
Publication Date: 2025/10/28
Abstract:
This study empirically explored the link between entrepreneurial competencies and the success of small and medium enterprises (SMEs) in Anambra State, Nigeria. The survey research design was adopted, and a sample of 154 respondents was drawn from a population of 250 SME owners and managers using the Taro Yamane formula. Data were collected through self-administered questionnaires, of which 130 were validly completed and analyzed using Spearman's rank-order correlation with the aid of SPSS version 25 at a 0.05 significance level. Findings revealed that all four entrepreneurial competencies investigated, strategic, conceptual, opportunity, and learning, had positive and significant relationships with SME success. Specifically, opportunity competency exhibited the strongest relationship, followed by strategic competency, conceptual competency, and learning competency. These results underscore the critical role entrepreneurial competencies play in enhancing SME performance, survival, and growth. The study concludes that SME operators who cultivate these competencies are better positioned to achieve superior outcomes in dynamic business environments. It recommends that SME owners strengthen strategic planning, problem-solving, and continuous learning capacities, while prioritizing market opportunity identification and exploitation. Furthermore, government agencies and financial institutions are encouraged to embed competency-based training into SME development and support programs.