OLATOYE Adeolu Oludare1 OJEYINKA, Aderonke Grace2 OLUSOLA Temitope Abiodun3 ADENUGBA Olubunmi Oluwakemi4 & ESSANG Victor Edet5
1Department of Entrepreneurship. Tai Solarin University of Education. Corresponding author: Olatoyeao@tasued.edu.ng 08033798629
2Business Education Department, College of Vocational and Technology Education, Tai Solarin University of Education, Ijagun, Ogun State
3,4,5Entrepreneurship Education Department, College of Vocational and Technology Education, Tai Solarin University of Education, Ijagun, Ogun State.
ABSTRACT
Small Scale Enterprises (SSEs) are essential drivers of economic growth, employment generation, and poverty reduction, especially in developing nations such as Nigeria. In Lagos State, SSEs play a vital role in the commercial environment but typically encounter sustainability and performance issues because to shortcomings in Human Resource Management (HRM) and Entrepreneurship competencies. This study evaluates the human resource management and entrepreneurial competences necessary for the optimal operation of small-scale enterprises in Lagos State. A descriptive survey research design was implemented, focusing on firm owners, managers, and essential personnel from several sectors. Data were gathered using structured questionnaires and analysed via descriptive and inferential statistics, encompassing regression analysis. The findings demonstrated that HRM competences, such as employee recruiting, training, motivation, and performance management, significantly boost corporate efficiency and worker productivity. Essential entrepreneurial talents, such as opportunity recognition, financial literacy, risk management, innovation, and strategic decision-making, are important for firm sustainability and growth. The study further indicated that a mix of HRM and entrepreneurship abilities positively improves the performance and durability of SSEs. Many business owners, however, lack formal education or training in these domains, resulting in financial mismanagement, inadequate labour administration, and restricted corporate growth. The report advocates for ongoing professional development for business proprietors, governmental involvement in capacity-building initiatives, and the incorporation of technology to enhance human resource management and entrepreneurial decision-making processes. Enhancing these competencies would improve corporate performance and contribute to the economic development of Lagos State.
Keywords: Small scale enterprises, human resource management, entrepreneurship competencies, business performance