ENTREPRENEURIAL SKILL SET AND SUSTAINABILITY OF SMEs IN ANAMBRA STATE
Keywords:
Business Survival, Entrepreneurial Skill set, Sustainability, SMEsAbstract
The continuous repetition of business products and processes affects the sustainability of MSMEs in Anambra State. In view of this, the study determined the extent of relationship between entrepreneurial skill-set and sustainability of MSMEs in Anambra State. The specific objective of the study focused on the extent of relationship that exists between creative thinking and business competitiveness; secondly, between risk taking and business survival of MSMEs in Anambra State. The study was anchored on opportunity –based theory. Survey research design was adopted in the study and the study purposively selected 120 registered MSMEs comprising of 229 respondents. Data were collected with the aid of structured questionnaire while hypotheses were tested using Pearson Product Moment Correlation Coefficient with the aid of Statistical Packages for Social Science (SPSS version 27). Findings revealed that there is positive relationship that exists between entrepreneurship skill set and sustainability of MSMEs in Anambra State by revealing a positive relationship between creative thinking and business competitiveness; also the study revealed that risk taking is positively related to business survival. The study concluded that entrepreneurial skill-set has tendency of supporting the sustainability of MSMEs as it can contribute to the competitive edge of business as well as business survival. The study recommended that there is need to incorporate creative thinking into the business practice of MSMEs as it will contribute to business competitiveness and sustainability.