Abstract
M.Comm. (Business Management)
Entrepreneurship plays a vital role in the growth of the South African economy as a result of the increasing rate of unemployment across the country. Small and medium sized businesses are recognized globally as the best strategy to alleviate poverty and boost economic growth through job creation. In order to create and sustain small and medium businesses, it is important to ensure that entrepreneurs possess the required skills that will ensure the viability of their organizations in the long-run. The more skills an entrepreneur possesses, the more entrepreneurial success will unfold.
This research aimed to investigate the personal entrepreneurial skills and competencies that are required from small and medium entrepreneurs in order to operate efficiently in the Johannesburg metropolitan area. Five entrepreneurial skills were selected, namely , the skill of leadership, the skill of creativity and innovation, the skill networking and trust, the skill of time management and the skill of goal setting and commitment.
One hundred and one entrepreneurs across the Johannesburg metropolitan area participated in the survey. The analysis of the data was conducted using SPSS (Statistical Package for Social Sciences) and recommendations were made on how to improve each selected entrepreneurial skill.
The major findings of the research were that all selected entrepreneurial skills proved to be crucial for the success of the small and medium businesses. The importance of entrepreneurial training and education was also emphasised as a strategy that could improve the entrepreneurial skills of start-up entrepreneurs.