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The pivotal position occupied by entrepreneurship as a sustainable tool for rapid economic growth as well as development of a country can't be over emphasized. This really is evident in several available literatures written by scholars on the subject matter but a more in-depth examination of these literatures show tilted emphasis and concentrations on some common areas relating to entrepreneurship.

In like manner, entrepreneurial competences are critical success factors required for successful entrepreneurship, business success and of course national development. The topic thus, deserves solemn attention in entrepreneurial discourse and not to be neglected. There is no substitute for entrepreneurship competence for successful entrepreneurship, not even abundant financial resources can. There isn't any doubt as explained, entrepreneurial competence play crucial role in any successful entrepreneurial activities.

Increasing competitions, rapid and constant changes in internal and external environment of business activities, as well as the significant influence of Medium and small Scale Enterprises (SMEs) on the economy generally have resulted in an ever-growing interest in studying the role of factors stimulating successful entrepreneurship, business success and national development.

Though, entrepreneurship, have played and will play more of these positive roles, just isn't a very easy vocation as it doesn't always guarantee a hundred per cent triumph. There are several critical areas of knowledge and factors that must be acquired and entrepreneur skills put in area to enable entrepreneurs achieve a measure of business success and consequently contributing to national development.

Several researches happen to be conducted in areas of entrepreneurship competency, entrepreneurship success and national development.

Most literatures relating to entrepreneurship and entrepreneurship success often unquestionably argue that most entrepreneurial fiascos are essentially due to inadequate financial resources (e.g. Adeyemo and Onikoyi, 2012). Such research outcomes have no doubt influenced government policy direction in lots of developed and developing countries of the world throughout the creation of financial agencies and provision of monetary resources to business units for the sole purpose of boosting and sustaining entrepreneurial development for rapid national development.