Entrepreneurship and Managerial Competencies as Drivers of Sustainable Business Development: An Empirical Study

Abstract

Entrepreneurship plays a crucial role in fostering economic growth, innovation, and employment generation. However, the sustainability of entrepreneurial ventures largely depends on the managerial competencies possessed by entrepreneurs. This study examines the relationship between entrepreneurial activities, managerial competencies, and sustainable business development. The research adopts an empirical approach by analyzing the managerial skills, strategic decision-making ability, financial management practices, and leadership qualities of entrepreneurs. Primary data were collected through structured questionnaires from entrepreneurs operating in small and medium enterprises (SMEs). The findings indicate that managerial competencies significantly influence the long-term sustainability and growth of business enterprises. Competencies such as strategic planning, financial management, leadership, and adaptability are identified as critical factors contributing to business resilience and sustainable development. The study emphasizes the importance of enhancing managerial capabilities among entrepreneurs through training, policy support, and institutional frameworks. The results provide valuable insights for policymakers, educators, and entrepreneurs in strengthening entrepreneurship ecosystems and promoting sustainable business practices.