ENTREPRENEURIAL TRAINING AND BUSINESS PERFORMANCE OF YOUTH OWNED SMES

Abstract

This paper examined how entrepreneurial training, acquisition of skills, and mentoring influence the performance of the youth-based Small and Medium Enterprises (SMEs) in Abia and Imo states in Nigeria. A quantitative research design was employed, and the survey method was adopted to gather data on 400 of the youth-owned SMEs, whose sample was taken among 4,215 registered businesses through a multistage sampling technique. The paper concentrated on three major areas, which were the impact of participation in entrepreneurial training on sales growth, the impact of community acquisition of entrepreneurial skills on profitability, and the impact of entrepreneurial mentoring support on innovation performance. The analysis of data was performed with the help of descriptive statistics and Pearson correlation analysis to test the relationships between variables. The results obtained indicated that the effects of engagement in entrepreneurial training were extremely strong and statistically significant and positive (r = 0.950, p < 0.01), which proved that the impact of training programs on the performance of the business is positive. On the same note, entrepreneurial skills acquisition turned out to be a major profitability-enhancing factor (r = 0.934, p < 0.01), which underscores the significance of managerial, financial, and opportunity identification skills in increasing financial performances. It was also determined that entrepreneurial mentoring support has a positive impact on innovation performance (r = 0.937, p < 0.01), which proves that the system of guided mentoring contributes to the progress of products, process optimization, and new technologies. The research concludes that the overall entrepreneurial interventions: training, skill development, and mentoring are important in the growth, profitability, and innovation abilities of young-headed SMEs. Possible recommendations are to reinforce practical training programs, reinforce structured mentoring, and supportive policies to carry through with the SME growth and innovation. These can be applied in policy formulation, development agencies, and practitioners who are interested in improving youth entrepreneurship and regional economic development.