ASSESSING THE IMPACT OF ENTREPRENEURIAL COMPETENCIES ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN BENIN CITY

ABSTRACT

The research investigated how entrepreneurial competencies affect the performance of small and medium-scale enterprises (SMEs) in Benin City, focusing on registered businesses. The study utilized convenient sampling to select a sample of 100 respondents and employed descriptive and inferential statistics, including simple percentages and IBM SPSS, for analysis. The results indicated that effective communication with customers positively influences sales, while the ability to learn and innovate contributes to business growth. Furthermore, the study concluded that goal setting and planning also positively impact entrepreneurial performance among SMEs in Benin City. The findings suggest the need for government support to encourage entrepreneurship. The study found that setting goals and making plans has a positive influence on the performance of small and medium-sized businesses in Benin City. The tests were conducted with a significance level of 0.05. Based on these results, it was suggested that the government should support entrepreneurs in developing the skills identified for improved business performance, among other recommendations.