Personality traits as a predictor of motivation and entrepreneurial effectiveness

The aim of the paper was to present the relationship between personality traits of candidates for entrepreneurs, the motivation which drives them to start running their own business and firm performance considered both as subjective assessments of satisfaction and as quantitative measures describing the firm. The study was prospective and longitudinal and a time of year passed between the personality assessment and firm performance measurement. The subjects was 124 participant of EU's funded entrepreneurship stimulation program. 81 of participants undertook entrepreneurial activity and started their own business. Traits of personality were assessed by using full version of five factor personality inventory developed by Costa & McCrae, the types of motivation and firm performance - by survey developed for this study. The results showed, as was expected, the studied sample differed in personality characteristic from the whole Polish population. The results showed also the number of significant relationships between personality traits, types of motivation and firm performance. The conclusion is that personality of potential and actual entrepreneur matter, although looking for the factors which mediate the relationship between personality traits and intention and performance seems to be crucial.