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The pivotal position occupied by entrepreneurship as a sustainable tool for rapid financial development and growth of a country can't be over emphasized. This is evident in several available literatures authored by scholars on the subject matter but a closer examination of these literatures show tilted emphasis and concentrations on some common areas relating to entrepreneurship.<br><br>In like manner, entrepreneurial competences are critical success factors necessary 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's no substitute for entrepreneurship competence for successful entrepreneurship, not even abundant financial resources can. There's absolutely no doubt as explained, entrepreneurial competence play important role within any successful entrepreneurial activities.<br><br>Increasing competitions, rapid and constant changes in internal and external environment of business activities, and also the significant influence of Small and medium 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.<br><br>Although, entrepreneurship, have played and will play more of these positive roles, is just not an easy vocation as it will not always guarantee a hundred per cent triumph. There are actually several critical areas of knowledge and factors that must be acquired and put in area to enable entrepreneurs achieve a measure of business success and consequently contributing to national development.<br><br>Several researches have been conducted in areas of entrepreneurship competency, entrepreneurship success and national development.<br><br>Most literatures relating to entrepreneurship and [http://esfappuno.edu.pe/profile/adamhayworth entrepreneurship development] success tend to unquestionably argue that most entrepreneurial fiascos are essentially because of inadequate financial resources (e.g. Adeyemo and Onikoyi, 2012). Such research outcomes have undoubtedly influenced government policy direction in many 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.