Abstract: The study empirically tested the relationship between portfolio entrepreneurship and business growth
moderated by managerial competencies and locus of control. According to the literature, business growth has
been a catalyst for national development, making businesses bigger and more successful over time. However, in
the manufacturing sector, studies have shown that the growth of Small and Medium-Sized Enterprises (SMEs)
has declined, likely because of the lack of portfolio entrepreneurship. Several authors have documented the role
of portfolio entrepreneurship in generating wealth in developed economies, but there has been little attention
given to manufacturing SMEs in Nigeria. The study was conducted by quantitative examination of primary
objective data obtained through a structured questionnaire administered to 343 owners or managers of selected
manufacturing SMEs in Lagos State, Nigeria. The results revealed a significant positive relationship between
portfolio entrepreneurship and business growth when jointly moderated by managerial competencies and locus
of control. Thus, the study found that portfolio entrepreneurship aided business growth.