Entrepreneurial competencies: SMEs performance factor in the challenging Nigerian economy

Noor Aina Amirah, Mohd Noor and Uzairu, Muhammad Gwadabe (2017) Entrepreneurial competencies: SMEs performance factor in the challenging Nigerian economy. Academic Journal of Economic Studies, 3 (4). pp. 55-61. ISSN 2457-5836

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Abstract

Myriad of challenges engulfed the Nigerian business milieu. Business activities become more complex and competitive which renders the environment not only difficult for business success but resulting to the increasing failure of SMEs in the country. However, entrepreneurs need to develop strategies to survive in the dwindling economy. It is the duty of the entrepreneurs to interact with the external environmental dynamisms, which require them to be competent in many dimensions. This review proposes a set of competencies that can equip the entrepreneurs with necessary skills and tactics to excel in a challenging economy like that of Nigeria. The paper highlights the conceptualization and synergy between competencies and entrepreneurship on SMEs performance through three distinct paths: entrepreneurial traits, innovation and entrepreneurial marketing.

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