The impact of selected personality and demographic characteristics on entrepreneurship performance

Abstract

Previous research postulated that personality characteristics and demographic factors could have impacts on entrepreneurs' performance. This study examined the impact of personality characteristics, namely risk-taking propensity, tolerance of ambiguity and role conflict (within the context of 'kiasuism' in Singapore) and demographic factors, namely, age, level of education and number of years of business experience of entrepreneurs, on the performance of entrepreneurs measured in terms of financial and non-financial criteria. This study also examined whether Singaporean entrepreneurs are 'kiasu' and its potential effect on entrepreneurs' performance. This study was carried out by way of a questionnaire survey of a randomly selected sample made up primarily of members of the Association of Small and Medium Enterprises (ASME). The results showed that (a) entrepreneurs have moderate risk-taking propensity, but risk-taking propensity is not a distinguishing characteristic of the more successful entrepreneurs vis-a-vis the less successful entrepreneurs, (b) Singaporean entrepreneurs have a low tolerance of ambiguity which could be attributed to our country-specific context such as our societal and cultural factors, (c) entrepreneurs have high inter-role conflict and low intersender role conflict, but role conflict does not distinguish the more successful from the less successful entrepreneurs, and (d) younger entrepreneurs tend to be more successful but other demographic factors have no significant impact on the degree of entrepreneurs' performance success. Although our research suggests that Singaporean entrepreneurs are moderate risk takers (which may lead to the conclusion that they are not 'kiasu'), this may not imply that entrepreneurs are not 'kiasu' if tolerance of ambiguity and role conflict are also included as variables.