With the spread of liberalization, privatization, and globalization, entrepreneurship continues to gain its importance. Linked with entrepreneurship are the small and medium scale enterprises (SME sector). The important contribution of SME sector to the economic growth has been widely acknowledged. These SMEs are entrepreneur specific and the skills possessed by an entrepreneur are very important for performance of SMEs.Business, entrepreneurial and technical skills possessed by an entrepreneur are very important in this regard. Manufacturing SMEs operating in Mumbai and suburban region contributes major revenue to the government of Maharashtra and so to the country as well. This study explores the important skills needed for better performance of SMEs operating in Mumbai and suburban region. The present study was carried out to collect the data from different SMEs (167 industries) through questionnaire supplied to them. Factor analysis technique has been applied in this study, to find the underlying dimensions (factors) that exist in the 20 variables. Later to test the hypothesis chi square test is carried out. The results show the extremely important factor for SMEs isseemed to be the operations (40.84%). The majority of SMEs considered 17 of the 20 skills categories to be very important (43.66%-71.83%). Computer literacy (52.11%), creativity (42.25%) and communication (40.84%)are moderately important to the SMEs, while computer literacy (23.94%) is not very important to the SMEs
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