IMPACT OF ENTREPRENEURSHIP-FOCUSED BUSINESS EDUCATION ON SME DEVELOPMENT IN ANAMBRA STATE’S COMMERCIAL HUBS

Abstract

Small and Medium Enterprises (SMEs) play important roles in the economy of Nigeria and notably in the commercial centres of Anambra State, namely, Onitsha, Nnewi, and Awka. Notwithstanding their importance, SMEs experience the problem of low managerial competencies and lack of scalability, which adds to high rates of failure. It is observed that entrepreneurship-oriented business education has also been billed to be a means of improving the performance, as trained entrepreneur is supposed to have chances of identifying opportunities, risk management, and innovation. This paper assesses how this kind of education has contributed to growth of SMEs in commercial centers of Anambra. Mixed methods were used where 230 SME owners and managers participated in the survey and provided information further in interviews. The results reveal that entrepreneurship education can enhance profitability, job creation, and innovation greatly, however, certain barriers including outdated curriculum, and a lack of practical exposure are reasons why it cannot do so. Policy recommendations are given to improve the design and delivery of entrepreneurship education to SME growth.