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Entrepreneurial skills and growth of Small and Medium Enterprise (SMEs): A comparative analysis of Nigerian entrepreneurs and Minority entrepreneurs in the UK

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  • Eunice Abdul, Omolara

Abstract

The significance of Small and Medium Enterprises (SMEs) to an economy development of a country cannot be ignored. Therefore, the growth of a business depends on the development of abilities needed to execute a smooth running of day to day business activities. Research established the fact that the flat economy growth of region relies on the extent of trade activities in the area. Given this importance of enterprise, this present study aims at developing an understanding of the influence of entrepreneurial skills on SMEs in Nigeria compare with the UK, as perceived by SME owners. The research will benefit the researcher, SME owners in Nigeria, Policymakers, and other researchers. Data collection was through an online survey questionnaire, and it was administered to a population of 38 SME owners both in Nigeria and in the UK. The research followed judgmental sampling techniques to explore their experience, beliefs, and attitudes to entrepreneurial skills because of the limited time frame. Moreover, this survey was used to validate the study conceptual framework and establish an insight on the opinion of business owners of the context. The study findings were that entrepreneurial skills have a significant influence on the growth of SMEs in Nigeria and the UK. However, the respondent in Nigeria and the UK agreed that creative thinking, Problem solving and communication skills are critical for increase sales and competitive advantage. Moreover, the respondent in Nigeria strongly agrees that high level of creative thinking with a bit of problem solving and communication skills will SMEs growth. By contrast, UK minority entrepreneurs argue that great creative thinking and a balance of problem solving and communication skills are critical to SMEs growth.

Suggested Citation

  • Eunice Abdul, Omolara, 2018. "Entrepreneurial skills and growth of Small and Medium Enterprise (SMEs): A comparative analysis of Nigerian entrepreneurs and Minority entrepreneurs in the UK," MPRA Paper 86751, University Library of Munich, Germany, revised 19 Apr 2018.
    • Handle: RePEc:pra:mprapa:86751
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    References listed on IDEAS

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    Cited by:

    1. Omonigho Simon Umukoro & David Efevogho Okurame, 2018. "Role of mentoring in career adaptability and ambiguity tolerance of potential Nigerian entrepreneurs: the moderating effect of age," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 8(1), pages 1-13, December.
    2. Amita Pathania & Sunita Tanwar, 2024. "Decoding startup failures in Indian startups: Insights from Interpretive Structural Modeling and Cross-Impact Matrix Multiplication Applied to Classification," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 20(2), pages 93-116.
    3. Abbas Saad Hamada Alkhuzaie & Muzaffar Asad & Ala'a Zuhair Ahmad Mansour & Mohammed Ali Bait Ali Sulaiman & Umar Nawaz Kayani & Muhammad Uzair Asif, 2024. "Compliance with Accounting Standards by Jordanian SMEs," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 89-107.

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    More about this item

    Keywords

    Entrepreneurship; Small and Medium Enterprise (SME); Entrepreneurial Skills; Creative Thinking; Leadership; Problem-Solving; Teamwork; and Communication;
    All these keywords.

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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