The Imperatives of Entrepreneurial Skills to Small Businesses’ Turnover in Nigeria

Abstract

The crux of the study is the necessity of entrepreneurial skills to profitability in small businesses in Oyo State, Nigeria using the confectionary industry in Oyo, Southwestern Nigeria as case study. Questionnaire was administered on 300 bakeries selected through a multistage probability technique. Respondents completed the modified but expanded Katz (1974)/Herron (1990) Skill Typology apart from interviews and reports of operations over a six yea- period (2006-2011). Frequency count, percentages and Pearson’s Product Moment Correlation (PPMC) were applied to data collected. Results demonstrate positive relationship between the dependent and explanatory variables with business management having the highest contribution.  Suggestions were blueprint on entrepreneurial skills learning and improvement of infrastructure.

Key words: Entrepreneurial skills, Profitability, Small Businesses