Entrepreneurial Competencies Relevant to Business Success: A literature Based Analysis

Abstract

The economic growth of any country is intricately linked to the development of its business ventures. SMEs play a crucial role in providing livelihood opportunities for the middle and working-class populations. Governments supports SMEs even during budget deficits, recognizing their importance. However, the success of businesses relies on the capabilities of entrepreneurs. Entrepreneurs need a wide range of competencies tailored to their ventures for long-term success. Despite funding and promotional programs, many enterprises struggle in competitive markets. It is at this juncture that the significance of entrepreneurial competencies becomes evident. This study explores the entrepreneurial competencies that are essential for business success, drawing insights from an extensive analysis of literature. These multidimensional entrepreneurial competencies emerge as critical determinants of business success, encompassing both financial and non-financial aspects.