Analysis of Competence Indicators in Entrepreneurial Activities Among SMMEs
DOI:
https://doi.org/10.51137/wrp.ijarbm.379Keywords:
Customer Feedback, Financial Management, Government Policy Impact, SMME PerformanceAbstract
Entrepreneurial competence (EC) influences SMME performance through effective financial management, customer feedback integration, and adapting to government policies. Understanding these interconnected factors is fundamental for nurturing sustainable growth, competitiveness, and investment decisions within SMMEs, stressing the need for skill development and supportive external environments. Empirical studies capturing SMME owners’ personal perceptions are scarce. This study aims to contribute by analytically investigating key competence indicators among SMME entrepreneurs in under-researched contexts, to inform education, policy, and practical support for SMME success. The findings reveal near-unanimous disagreement (99.8%) that entrepreneurship is just business ownership, with 97.6% agreeing financial performance is vital for start-up success. Customer feedback via daily surveys showed mixed responses (33.7% agreement). Over 95% recognized government policies and taxes as key investment factors. Strong consensus (over 85%) supported competitive adaptability, market understanding, opportunity seeking, and operational factors like location and service alignment as essential ECs. The study concludes that EC in SMMEs extends beyond ownership to include financial management, market insight, regulatory awareness, and operational strategy. Success depends on adaptability, cost control, and aligning offerings with customer demand. Supportive policies and training are essential to enhance competitiveness and sustainability in dynamic business environments. This study emphasizes the multidimensional nature of EC essential for SMME success, stressing financial, regulatory, market, and operational skills. Future research should examine competence impacts across contexts, concentrating on feedback mechanisms, adaptability, and strategic operations. The novelty is the empirical focus on SMME owners’ views of EC, quantifying key dynamic competencies in under-researched contexts.
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