There exist an acute want of information on the challenges and prospects for entrepreneurial ventures in many developing countries. This paper therefore seeks to show some light in this sector, by examining the challenges and prospects facing trading entrepreneurial ventures in Cameroon the case of some selected trading enterprises in Buea Municipality. The research was based on three objectives which where: (1)to examine the nature and characteristics of entrepreneurial trading ventures in Buea Municipality,(2) to assess the internal challenges facing these entrepreneurial ventures and lastly, (3) to identify opportunities to enhance these entrepreneurial ventures. To achieve these objectives, the study made use of the descriptive survey design and employed a sample of 115 respondents that were drawn conveniently from the study population. Data was collected principally using a close ended questionnaire. The quantitative data were analysed using descriptive and inferential statistics with the aid of the Statistical Package for Social Science (SPSS) version 21 and Microsoft Excel 2013. The findings showed that, 80% of the trading entrepreneurs in Buea deal mostly in cosmetic, electronic, fashion etc. These traders possess at least two characteristics of entrepreneurship with small sizes, few numbers of employees, very few number of branches established etc. Also, the Results revealed that, internal challenges like; lack of business plan, strategy, skills, staff, structure, finances, style, system were the most prominent amongst the ventures examined. The findings equally showed that, 57% of traders would prefer attaining workshops and seminars rather than constitute themselves into group which could help them grows the businesses at a faster rate. 75% of them also agreed that, taxes levied by the Government are too heavy on them hence preventing their growth. The research therefore recommended that, taxes should be reduced, all businesses should have a plan on how to operate starting from the supplier to the consumer.