PERSONALITY TRAITS AND ITS IMPLICATIONS ON THE SUCCESS OF SMALL BUSINESSES

ABSTRACT

This study examined personality traits and its implications on the success of small business in some selected small scale enterprises in Benin City, Edo State. The descriptive design was be adopted for this study, and the sample size for the study was one hundred (100) small scale business owners in Benin City. The data were analyzed using both descriptive and inferential statistics and linear regression analysis. Descriptive statistics was used to describe the data, and they comprise frequency distribution tables, percentages and averages. The linear regression test was used to examine the effect of human resource development on organisational performance with the aid of the Statistical Package for Social Science (SPSS). The findings from the study revealed that a significant relationship exists between entrepreneur agreeableness and business performance among small business owners in Benin City, there is a significant relationship between entrepreneur openness to experience and business performance among small business owners in Benin City, there is a significant relationship between entrepreneur conscientiousness and business performance among small business owners in Benin City, Edo State accepted, there is a significant relationship between entrepreneur extraversion and business performance among small business owners in Benin City, Edo State is accepted, andthere exist a significant relationship between entrepreneur neuroticism and business performance among small business owners in Benin City.The study recommended that entrepreneurs should be tactful in his/her approach to all issues, show openness and yet be accommodating to all differing views, be courageous enough to sift every considered opinion, and decisive in taking the best course of action on timely basis, entrepreneurs should be mentally matured, confidence, be tactically and technologically inclined, he should be courageous and highly motivated to take the right decision even in the midst of challenges. Ability to endure harsh business conditions and ever changing business environment is required. the academic world should include or intensify the study of entrepreneurs’ personality traits into the school curriculum so as to allow the students to know what traits they possess and how they can develop it towards having successful business enterprises when they leave school, and government should also encourage educational institutions and its agencies to establish vocational training centres, where practicing and would-be entrepreneurs will avail themselves to learn on corrective measures for negative personality traits that may hinder business performance.