The Role of Entrepreneurial Competencies in Promoting Entrepreneurship in Nigeria: A Study of Practicing Entrepreneurs in Anambra State, Nigeria

Abstract

This study examined the role of entrepreneurial competencies in promoting entrepreneurship in Nigeria using selected practicing entrepreneurs in Anambra State as case study. The study adopted descriptive survey design. Eight hundred and fifty-one (851) business owners and managers within the defined category were identified. An item structured instrument designed to reflect a likert scale format was used to elicit information from the 272 respondents estimated as the sample through Taro Yameni’s formula for estimating sample size from a finite population. The data generated in the study were analyzed through simple summary statistics of percentages and the Analysis of Variance (ANOVA). All tests were carried out at 0.05 level of significance. Major
findings are that entrepreneurial failures in Nigeria should not be seen only in the area of inadequate access to financial resources, as the entrepreneur also needs to acquire competencies in the areas of time management, communication, marketing, decision
making and financial management. In the light of the findings, it was recommended that the government should encourage the entrepreneurs to develop the identified competencies for effective performance in their business among other recommendations.

Key Words: entrepreneurial, competencies, entrepreneurship, development, Nigeria