The Importance Of Entrepreneurial Competencies On The Performance Of Women Entrepreneurs In South Africa

Abstract

The study investigated the importance of entrepreneurial competencies on the performance of women entrepreneurs in East London, South Africa. The objectives of this study were to identify key entrepreneurial competencies that influence the performance of women entrepreneurs, to establish a relationship between entrepreneurial competencies and the performance of women entrepreneurs and to suggest strategies that can be implemented to improve entrepreneurial competencies of women entrepreneurs. Both primary and secondary data source were used in this research. This research followed a quantitative research design. A self-administered questionnaire was used to collect primary data. The findings of this research showed that entrepreneurial competencies are crucial for the survival and performance of SMMEs.

Competitive Advantages of the Relationship between Entrepreneurial Competencies and Economic Sustainability Performance

“…Microenterprises are small businesses that not only generate income profits, but also address socioeconomic issues related to poverty [1]. Researchers consider small businesses as drivers for economic progress [2,3] that contribute to low-cost employment [4], income distribution [5], and wealth creation in the country's economic system [6]. Hence, the role of small business is essential for individuals, countries, and standard of living [7].…”

“…As small companies use and add value to national resources, they are ideally placed in both local and regional market to meet local needs [9]. Investing in a small business contributes to employment development [2], besides increasing trade from the socioeconomic context for both the micro-entrepreneur and the whole community [1,3]. The bulk of small businesses are operating in the informal sector.…”

“…Although informal enterprises significantly contribute to employment and economic growth in most developing economies and specifically in Senegal [19], a large fraction of micro-entrepreneurs in developing countries face numerous constraints related to entrepreneurial competencies [2,3], access to working capital [24,25], and economic performance of enterprises [1,26]. Small enterprises are unable to maintain competitive advantage due to inaccessibility of working capital [4], insufficient competencies, poor commitment, and lack of managerial training [6].…”

“…In comparison to formal and large enterprises, small enterprises are denied loans by formal financial institutions due to the following reasons: failure to provide collateral [18]; higher transaction costs of lending to small businesses [27]; inadequate financial knowledge, business record, and entrepreneurial skills [2]; and perceived danger linked with their informal status [17]. Moreover, academics and policymakers denounced the limited access to formal finance [2,28] and restricted access to working capital as the key inhibitors of the performance of small enterprises [29]. These issues have been related to several reasons, such as lack of collateral, repayment difficulties, small cash flows, and high interest rates [18].…”

SURVEI PASAR ONLINE: STRATEGI RISET PASAR UNTUK MENGEMBANGKAN USAHA MIKRO WANITA di KELURAHAN PEKAN LABUHAN KECAMATAN MEDAN LABUHAN

“…Namun, pengusaha mikro wanita membutuhkan penguasaan berbagai kompetensi kewirausahaan yang dapat mendukung kinerja usaha, antara lain kompetensi dalam memanfaatkan teknologi informasi dalam menunjang kelancaran proses bisnis (Zizile & Tendai, 2018). Orser et al (2019) melalui risetnya mengungkapkan bahwa penguasaan Teknologi, Informasi dan Komunikasi (TIK) pada wirausaha mikro perempuan menjadi salah satu penghambat keunggulan kompetitif usaha.…”