EFFECT OF ENTREPRENEURIAL COMPETENCIES ON THE PERFORMANCE OF ENTREPRENEURS IN KOGI STATE, NIGERIA

Abstract

This study looked into the importance of entrepreneurial competencies on the performance of entrepreneurs in Kogi Central, Nigeria. The objectives of this study were to ascertain the extent to which key entrepreneurial competencies influence the performance of entrepreneurs, and to establish the relationship between entrepreneurial competencies and the performance of entrepreneurs. The population of the study is 1,265 entrepreneurs from the study areas. Samples of 295 entrepreneurs were selected using Krejcie and Morgan sample determination formula. Using the proportionate sampling technique, the questionnaire was administered to the 295 entrepreneurs. Out of this number, 286 or 97% of the administered instrument were fully completed and usable. A structured questionnaire which was designed based on the review of related literature was used to elicit information from the respondents. The instrument was validated by experts and tested for reliability using Cronbach Alpha method and it yielded a coefficient of 0.83. The research questions were answered using Arithmetic Mean and Standard Deviation. Data sourced were presented and analyzed using descriptive methods involving tables. The hypotheses were tested using linear regression models. Findings revealed that entrepreneurial competencies are crucial for the survival and sustenance of business enterprises. Based on the results of the study, It was concluded that networking competence and entrepreneurial persistence to a large extent, influences entrepreneurial ingenuity and entrepreneurial passion. It is therefore, recommended that entrepreneurs should imbibe those competencies that would lead to optimum performance thereby contributing to national economic development.