IMPACT OF MANAGERIAL SKILLS ON ENHANCING ENTREPRENEURIAL ACTIVITIES IN THE PRIVATE SECTOR

Effective managerial skills possess a unique set of capabilities that can significantly influence the nurturing and growth of entrepreneurial activities. This paper examines the effect of managerial skills on the promotion of entrepreneurial activities in the private sector. Primary and secondary data was employed to carry out the research. Using a purposive sampling technique design, data was collected from 60 business owners in Ile Ife, through structured questionnaires, addressing three objectives which are identifying and prioritizing crucial managerial skills, analyzing the impact of these skills on business performance and growth, and exploring the relationship between managerial skills and entrepreneurial success.The findings revealed a predominance of young entrepreneurs and a significant number of respondents with higher educational qualifications. The majority of the respondents strongly agreed that the key managerial skills identified include leadership, communication, decision-making, problem-solving, time management, financial management, strategic planning, and team-building. These skills were unanimously deemed crucial for business performance, growth, and overall entrepreneurial success, with significant positive impacts on financial performance, operational efficiency, adaptability, employee retention, and customer satisfaction.This study concludes that managerial skills are indispensable for the success and sustainability of entrepreneurial ventures. The paper recommends implementing comprehensive training programs, fostering mentorship and networking, enhancing educational curricula, and encouraging continuous learning