CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

 An entrepreneur is an innovator who implements changes within a market through the carrying out of new combinations. The carrying out of new combination can take several forms; the introduction of a new good quality, there fore; the introduction of a new method of production, the opening of a new market; the congress of a new source of new materials or parts; the carrying out of the new organization of any industry. Further more, an entrepreneur is an individual that identifies, develop and brings vision to life under condition of risk and a considerable uncertainty. The vision may be an innovative idea, an opportunity or simply a better way to do something (Mamma, 2010).

This is the reason why it is often said that every entrepreneur is a human being but not every human being is an entrepreneurs. Going by this adage; it can be said that entrepreneurs are special people with distinguishable features or characteristics. As such an entrepreneur is result oriented; future oriented; creative, innovative, has self confidence; has a good human relations;   must be self-discipline; copies with uncertainty and above all profit oriented.

A lot of business falls due to the inability of the innovators of such business to exhibit the time entrepreneurial characteristic in the day to day management of their business enterprise, hence such business do not stand the test of time. This is evident in the way and manner in which small and medium scale business collapse in Nigeria. It is against this background that the research sees the subject matter of this research: the effect of this entrepreneurial characteristic of business performance worthy of empirical investigation.

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