Explicating the Effect of Entrepreneurial Competence and Traits on the Performance of Women Entrepreneurs in Nigeria

Abstract

Women entrepreneurs possess specific individual traits that prompt them to become entrepreneurs and succeed. However, they are faced with challenges of exhibiting competencies for improved business performance and their businesses die within the first five years of existence. Therefore, this study investigated the effect of entrepreneurial traits (ET) on the performance of women entrepreneurs in Nigeria. The paper adopted the use of the survey and descriptive and structural design. Five hundred and twenty (520) copies of the questionnaire were administered among the selected Nigerian women in Small and Medium-Scale Enterprises and four hundred and sixty-four (464) were retrieved. Based on the analysis, it was observed that R² = 0.721, which implies that the performance of Nigerian women in SMEs and competencies collectively and significantly explain 72.1% of the variance in entrepreneurial traits. The implication of this is that entrepreneurs should put strategies in place to ensure that their traits enhance performance in conjunction with the display of competence. The study concluded that the effectiveness of business performance among women-owned SMEs should be based on their abilities to generate new ways of handling the always-changing business environment and engaging in taking risks with the hope of great returns. The study however recommended that there should be SME Owners must engage in competence training for themselves and their employees through seminars, on-the-job training, conferences and mentorship, this will boost competence and in the long run, lead to improved performance.