EFFECT OF ENTREPRENEURIAL SKILLS ACQUISITION ON GROWTH OF SMALL AND MEDIUM ENTERPRISES IN FCT ABUJA

Abstract

This study examined the effect of entrepreneurial skills acquisition on growth of small and medium enterprises (SMEs) in the Federal Capital Territory (FCT), Abuja. Specifically, it investigated the effect of intellectual skills and vocational skills on SME growth. Survey research design was adopted, the population of the study consists of two hundred and fifty four thousand six hundred and sixty eight (38,003) SMEs registered with Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) as at (2021) operating in FCT Abuja.  Primary data was used and it was collected through the use of five-point likert scale questionnaire on a sample size of four hundred and forty (440) owners/ managers of the SMEs. The hypothesis of the study was tested using multiple regression analysis. The result revealed that intellectual skills and vocational skills have a significant positive effect on the growth of small and medium enterprises in FCT Abuja. The study recommended that owners and managers of SMEs in FCT Abuja should prioritize continuous intellectual development through targeted training and capacity-building programs. This can be achieved by organizing regular workshops, enrolling in entrepreneurship and business management courses, and participating in mentorship or knowledge-sharing platforms. They should actively pursue vocational training relevant to their trade, also government agencies such as the (SMEDAN) and the National Directorate of Employment (NDE) should expand and promote vocational training centers that offer practical, hands-on skills development in areas such as tailoring, carpentry, catering, digital services, and manufacturing.