Abstract:

Technology is changing the face of business environment and firms are leveraging on it to enhance their effectiveness, efficiency, and help in gaining competitive advantage. Research has proven that the failure of technology-based small and medium firms, especially in Nigeria, is as a result of insufficient funding from government and other external sources. However, little is known about how technology based entrepreneurs can leverage on diverse sources of funding to sustain organizational operations. Also, there is scarcely any detailed explanation in existing literature about the role of entrepreneurial competencies in enhancing technology-based SMEs operators’ ease of access to funds, when they are available. Therefore, this study focused on investigating the influence of entrepreneurial competencies and financing strategies on the growth of technology-based SMEs in Nigeria. The study used primary data gathered from technology-based SME entrepreneurs in Lagos state. Data analysis was carried out using regression and hierarchical multiple regression to show relationships between the variables. The study made recommendations that are relevant to technology-based SMEs operators’ finance strategies and how entrepreneurial competencies can enhances their access to funds.