COMPETENCIES

This study examined the effect of entrepreneurial competencies on the success of small and medium enterprises (SMEs) in Benin City, Edo State. Entrepreneurial competencies are widely recognised as essential behavioural and skill-based attributes that enable entrepreneurs to effectively identify opportunities, manage resources, and sustain competitive advantage in dynamic business environments. The specific objectives of the study were to: Examine the effect of opportunity recognition on SME success Assess the influence of risk-taking on SME success Evaluate the effect of innovativeness on SME success Investigate the impact of networking on SME success Determine the effect of managerial competence on SME success. A survey research design was adopted, and structured questionnaires were administered to owners and managers of SMEs in Benin City using a purposive sampling technique. Data were analysed using descriptive statistics, correlation, and multiple regression analysis. The results revealed that opportunity recognition (B = 0.113, p = 0.048), innovativeness (B = 0.253, p = 0.016), and managerial competence (B = 0.372, p = 0.000) had positive and statistically significant effects on SME success, while risk-taking (B = –0.006, p = 0.939) and networking (B = 0.065, p = 0.301) exhibited positive but statistically insignificant effects. The regression model (R² = 0.642, F = 39.040, p = 0.000) indicated that the independent 13 variables collectively explained about 64.2% of the variance in SME success, suggesting a strong overall model fit. The study concludes that entrepreneurial competencies are critical determinants of SME success in Benin City, particularly opportunity recognition, innovativeness, and managerial competence. It recommends that SME operators enhance their entrepreneurial skills through continuous training and strategic learning to improve adaptability, innovation, and long-term competitiveness within the business environment.