The relationship between entrepreneurial personality patterns linked to risk, innovation and gender across industrial sectors

Abstract

Abstract This study examines the personality patterns of solo founders in both high-tech and non-high-tech sectors during the first seven years of their entrepreneurial journey to emphasize the patterns’ implications during policymaking, investment decisions, and self-assessments. IAB/ZEW startup panel microdata for the sector classification of 4470 solo entrepreneurs in Germany were analyzed to identify Big Five trait patterns influenced by risk propensities, innovation inclination, and gender. The entrepreneurial profiles indicate positive openness, emotional resilience, and sector-specific clusters. Conscientiousness suggests flexibility, and while variations in extraversion and agreeableness exist, negative neuroticism was predominantly found, except for gender-related differences and multidimensional service innovators. Big Five traits provide information about important foundational profile patterns to describe unique solo entrepreneur types influenced by risk, innovation, and gender. Originality and value: Risk propensity characterizes ‘Adaptive Services,’ ‘Dynamic Knowledge Innovators,’ and ‘Strategic Risk Navigators.’ Additionally, ‘Multidimensional Service Innovators’ and ‘Focused Tech Innovators’ signify innovation understanding. The Big Five profiles show openness and emotional stability across sectors, providing crucial insights for effective entrepreneurial support and investment strategies.

Keywords

• Big Five
• Entrepreneur
• Sector analysis
• Personality profiles