An important assumption of entrepreneurial competence is that (at least part of) it can be learned and developed. However, human resources development (HRD) practices aimed at further strengthening and developing small-business owner-managers' entrepreneurial competence are complex and underdeveloped. A multisource assessment of owner-managers' entrepreneurial competence in a well-defined sector was conducted to provide an answer to the research question: How do self-assessments about mastery and improvability of entrepreneurial competence made by owner-managers relate to the same assessments made by significant others in the small-business work environment? The data show that owner-managers rate their own mastery of entrepreneurial competence significantly lower than internal assessors in their work environment do. Furthermore, the assessors indicate many possible areas for improvement of owner-managers' entrepreneurial competence. Nonetheless, mastery and improvability patterns differ considerably between the assessors. Multisource assessments as adopted in this study can help owner-managers raise their self-awareness, and consequently help them bypass some of their often costly trial-and-error learning. (Contains 1 figure and 4 tables.)