To what extent do personality traits influence entrepreneurial intentions?

Personality has always been explored as a potential predictor of entrepreneurial success whereas intention has recently been discovered as one of the best predictors of behavior. In accordance to this, the world of academia has placed more focus on entrepreneurial intention as a powerful predictor of who becomes an entrepreneur. On the other hand, personality has also been recognized as an influential factor on who becomes an entrepreneur. This research paper uses the Five-Factor Model (FFM), a well-tested measurement tool of personality in order to identify the effect personality traits have on entrepreneurial intention. Five hypotheses were formed using the five personality traits of Five-Factor Model to identify the effect of personality on an individual’s entrepreneurial intention. The findings of this research paper showcase that personality does have an influence on entrepreneurial intention. The results showcase that personality explains 19.5% of the variation in entrepreneurial intention when controlling for entrepreneurial education, whether an individual’s family owns a business and the level of study completed by an individual. The two personality traits of ‘openness to experience’ & ‘extroversion’ were found to hold a significant influence on the entrepreneurial intention displayed by an individual.