IMPACT OF ENTREPRENEURS INDIVIDUAL CHARACTERISTICS ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES (SMES) IN NIGERIA

Abstract

The individual role in entrepreneurship is derivable. Personal experience , knowledge, education and training are the accumulated human resources that the owner contributes to the enterprise. The study investigated the impact of Entrepreneurs’ individual characteristics on the performance of Small and Medium Enterprise in Nigeria. This was achieved by establishing the influence of work experience of the entrepreneurs and examining how self –discipline of the entrepreneur all impacted on the performance of Small and Medium Enterprises in Nigeria. This study was conducted in Kano, Kaduna, Lokoja, Onitsha, Port-Harcourt, and Lagos towns of Nigeria. These towns are cosmopolitan. A total of 304 questionaires were sent out and administered to the respondents, 204 of the questionnaires were returned and usable, giving 67 percent of response rate. Data was analyzed using regression analysis to establish the findings. The findings revealed that work experience and self discipline as individual characteristics of entrepreneurs have impact on performance of SMEs in Nigeria as can be seen in the rate of turnover and number of employees the SMEs generated. The study therefore recommend that entrepreneurs should start business which they have acquired skills through experience and should have self discipline so as to enhance the performance of SMEs in Nigeria.