"Influence of an entrepreneur’s personality traits on the growth of business start-ups in Roysambu Ward, Nairobi Kenya. "

Abstract

In Kenya, it is estimated that every year more than 1 million children are born which ultimately increase Kenya’s population. Unfortunately, the rate at which the population is increasing is not the rate at which employment is being created. Advances in technology have also influenced the creativity of people who start businesses as a result of these technologies. Many countries have made the registration of companies an easier and faster process therefore making starting a business attractive to a lot of people. The rate at which small businesses start and fail is relatively high. As such there is need to take measures that will prevent the failure of new businesses. This can be done through research on successful entrepreneurs and their influence on the growth of their businesses. The objective of this study was to assess the influence of personality traits in entrepreneurs and how they affect the growth of start-up businesses. This study looked at the Big five personality traits that have been researched on by psychologists to determine the impact they have on the growth of business start-up organizations especially within the first year to the sixth year of operation. The study appreciates the huge roles played by entrepreneurs in growing their business and therefore looking at who they are and how they drive companies to success is important. The study aimed at finding out the character traits that are important for an individual who is venturing into a new business and how they can adopt some of these characteristics so as to reduce the chances of failure in their start-up. The results gathered by the study can be used by upcoming and existing entrepreneurs to caution them against failure in their ventures. The research was carried out in Nairobi county, Roysambu constituency, Roysambu ward. It targeted those entrepreneurs/founders of different start-up businesses who were actively engaged in running the business, as they understand the journey of their businesses. The study used both quantitative and qualitative methods of data collection. A survey research design approach was applied. The instrument used in the study was questionnaires. The data gathered was analysed using a statistical package (SPSS) and Microsoft excel, which is suitable for this study. The findings were presented through graphs, charts and tables. The study found out that the openness to experience trait and conscientiousness were best suited for business and it recommends that entrepreneurs venturing into business adopt characteristics found in these traits for them to have a better chance at business success. Agreeableness trait also scored fairly in the study and the study recommends that more research is undertaken on the role of agreeableness trait in business growth.