| The present study proposed that personality traits of the owner-managers of small businesses would relate to support for innovation, support for innovation would relate to innovation rate, and innovation rate would relate to company performance. Three hundred thirty-five small business owner-managers completed a survey assessing personality traits, support for innovation, company innovation rate, and company performance. The personality traits of proactiveness, openness to ideas, openness to actions, and risk-taking propensity related to support for innovation. In addition, support for innovation related to company innovation rate and company innovation rate related to company performance. To our knowledge, this is the first study to demonstrate that the rate at which the businesses of both growth oriented and current income oriented small business owner-managers introduce new products and services relates to a wide range of company performance measures. We have also found that a company culture supporting innovation can influence the rate at which the businesses of both growth oriented and current income oriented small business owner-managers introduce new products and services. Small business owner-managers who were growth oriented had higher levels of proactiveness, a higher risk-taking propensity, provided more support for innovation within their companies, and generated higher annual sales when compared with those who were current income oriented. |
