IMPACT OF ENTREPRENEURIAL COMPETENCIES ON THE PERFORMANCE OF SMALL AND MEDIUM-SIZED ENTERPRISES: FOCUS ON THE WA MUNICIPAL AREA OF GHANA

This research evaluated the influence of entrepreneurial orientation on the performance of Small and Medium-sized Enterprises (SMEs) in Wa Township of Ghana. Entrepreneurial descriptors included socio-demographic variables involving educational attainment, sex and age, and other determinants including risk-taking, innovative spirit, and determination. Through a questionnaire survey, 411 SME operators were contacted using a random sampling approach. Leveraging SPSS, the data were analyzed using descriptive and inferential means. Correlation and linear regression analyses were executed. Per the correlation statistics, determination alone failed the significance test. The other factors influenced SME performance positively and significantly. According to the regression model, entrepreneurial competencies are vital predictors of SMEs’ performance in Wa Municipality (R-squired = 0.059, Prob>F = 0.000). Innovative capability accounts for the biggest share (13.9%) of the variance (r=0.139; p-value=0.0399). Therefore, to increase SMEs’ success in the Municipality, more efforts should be put into sharpening the innovative proficiencies of firm operators.