Entrepreneurial Characteristics on the Growth of Micro, Small and Medium Enterprises

MSMEs operating in Oriental Mindoro have contributed substantially to  the province’s sustainable development by generating economic and social benefits in rural areas and the whole province. Thus, the study assessed the entrepreneurial characteristics on the growth of MSMEs in the first-class municipalities of Oriental Mindoro. It considered the demographic and firmographic along with cognitive and personal entrepreneurial characteristics. It also looked at strategic positioning, entrepreneurial competencies, and access to finance as factors affecting the growth of MSMEs.Differences of the responses among respondents in entrepreneurial characteristics and MSMEs’ growth were taken into considerations. Also, relationship between them was accounted. The study used the descriptive method of research. Questionnaire was used as the main data gathering instrument. Two hundred eighty-four entrepreneurs participated in the study. Frequency/percentage, weighted mean, and Mann-Whitney U and Kruskal Wallis tests were used to statistically treat the data. The study showed that need for achievement, locus of control, self-efficacy, alertness, and cognitive style significantly differ inters of demographic profile. Access to finance and strategic positioning also significantly differ considering demographics. Entrepreneurial characteristics in some variables positively relate to growth of MSMEs. Entrepreneurial growth framework that could help the growth of MSMEs as well as entrepreneurs was proposed.

Keywords: entrepreneurial characteristics, growth of MSME, personality traits, cognitive traits