The Relationship Between Personality Traits and the Income of Small Business Owners

Abstract Researchers have found that the Big Five personality trait of conscientiousness correlated consistently with high performance across industries. However, previous research was limited to self-reported data collected based on the opinions of the participants and did not include the subtraits of conscientiousness (achievement and dependability). Previous studies also did not provide data specific to entrepreneurs operating as small business owners and did not compare them to their peers. Thus, the purpose of this quantitative, correlational study was to explore whether or not there was a relationship between the personality traits of achievement and dependability and the income of U.S. entrepreneurs who operate as small business owners. Maslow\u27s hierarchy of needs was the theoretical framework for the study due to the correlation between the trait variables of the study and the basic needs of individuals outlined in the theory. Although the relationship between personality and the income of small business owners was not significant, small businesses have had an impact around the world and researchers have found that entrepreneurs can positively or negatively affect the employment rate. For this reason, my study supports the recommendation of other studies to continue research so that organization psychologists and individuals in the helping professions can gain a deeper understanding of how the relationship of personality motivation affects entrepreneurial success, in terms of income as a performance measure, by modeling small businesses