1Alabi, Ezekiel; 2Olatunji, O. P. & 3Amusat, W. A.
1Business Administration Department, University of Ilesa, Ilesa, Osun State,
Nigeria: [email protected];
2&3Business Administration and Management Department, Osun State Polytechnic, Iree,
Abstract
The influence of small-scale enterprises (SSE) on job creation, poverty alleviation, economic growth and development is of great interest to global scholars, policymakers and other stakeholders. Despite enacting and implementing several financial and other policies, Oyo State has faced challenges in enhancing the performance of small-scale enterprises, resulting in outcomes that have not met expectations. In light of this, the study examined the influence of entrepreneurial personality factors on SSE performance in Oyo State, Nigeria. Primary data was used in this investigation. A structured questionnaire was used to collect data from the respondents. The population comprised 5,532 small-scale enterprise (SSE) owners in Oyo State. A multistage sampling procedure was utilized to select a sample size of 371 respondents for the study. The data gathered was analysed using multiple regression analysis at 0.005 p-value. The findings revealed that the entrepreneurial personality qualities taken together (71.7%) had a significant and positive impact on the performance of SSEs. The results demonstrated that the traits of risk-taking propensity (0.965), innovativeness (0.772), and locus of control (0.548) had a favourable and significant impact on the performance of SSEs. It was concluded that SSE performance in Oyo State, Nigeria could be influenced by entrepreneurial personality qualities. Based on the findings it was therefore recommended that entrepreneurs should encourage the idea of self-evaluation and make themselves available for training that would shape and reinforce their personality qualities that could promote their effective business operation for a sustainable SSE growth.
Keywords: Business growth, entrepreneurship, innovativeness, locus of control, risk-taking