- Risk taking; competitive aggressiveness; innovativeness; profitability; sales growth
Abstract
The success of SMEs hinges on the character display by the entrepreneurs in a competitive business environment. Many SMEs have failed as a result of entrepreneur’s lackadaisical display in controlling and coordinating the business. This study examined the effects of entrepreneurs’ character on SMEs performance in Lagos State. This study used survey research designed via administering questionnaires to the entrepreneurs’ of SMEs in Lagos State. 260
questionnaires were administered to the respondents and 231 were retrieved. Regression method of analysis was employed to test the stated hypotheses and the findings revealed that risk taking has a weak positive effect on profitability but competitive aggressiveness and innovativeness have a strong positive effect on sales growth of SMEs in Lagos State. The study recommended that entrepreneurs’ operating in Lagos State need to be very mindful of the risk they take in order to improve their business performance in terms sales growth and profitability. Entrepreneurs need to develop new business ideas to enhance innovativeness and creativity so as to achieve increase in both financial and non-financial performance.