Abstract: Technological newness and innovativeness are
important aspects of small firm development, growth and wealth
creation. The contribution of the study to entrepreneurship
personality research and to technology-related research in
entrepreneurship is that the model of the general personality driven
technological development was developed and empirically tested.
Hypotheses relating the big five personality factors (OCEAN:
openness, conscientiousness, extraversion, agreeableness, and
neuroticism) and technological developments were tested by using
multiple regression analysis on survey data from a sample of 160
entrepreneurs from Slovenia. The model reveals two personality
factors, which are predictive of technological developments:
openness (positive impact) and neuroticism (negative impact). In
addition, a positive impact of firm age on technological
developments was found. Other personality factors
(conscientiousness, extraversion and agreeableness) of entrepreneurs
may not be considered important for their firm technological
developments.