ENTREPRENEUTSHIP SKILL APPLICATION AND BUSINESS PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN YENEGOA BAYELSA STATE

Abstract

This research work examines entrepreneurship skills application and business performance of SMEs
in Yenagoa Bayelsa State. The main objective of this study was to identify the effect of
entrepreneurship skills on business performance of SMEs in Yenagoa, Bayelsa state Nigeria. Three
hypothesis were used in the course of this study. The population of study consists of selected SMEs
in Yenagoa. This study collected primary data through self-administered questionnaires while
secondary data were collected from documented data from published financial statements, statistical
bulletin, annual reports and account. The research design employed for this research is survey
research design. This method was chosen because it will help the researcher in getting the required
data and also assist in answering the research questions in order to achieve the research objectives.
. The statistical tool of analysis adopted for this research work is Pearson correlation coefficient.
The test result reveals a significant relationship between innovativeness and business growth
(0.043< 0.05).Similarly, test result shows that there is a significant relationship between Risk taking
ability and business growth (0.029 < 0.05). In the same vein, test result show that there is a
significant relationship between change orientation and business growth (0.024 <0.05). The study
concluded that there is a significant relationship between the variables of entrepreneurship skills
and business performance. This study recommends that business owners and managers of SMEs
should prioritize the development and improvement of entrepreneurship skills in order to enhance
the overall performance and competitiveness of their business, entrepreneurship education should
be made compulsory to all students from primary to tertiary institutions in order to prepare them to
apply the necessary skills needed in employment after graduation, finally, all SMEs should establish a culture of continuous learning.