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Not much is known about “reluctant entrepreneurs,” who instigate new ventures out of necessity rather than out of choice. In this paper we study the extent to which various aspects of the entrepreneur’s personality are associated with reluctance and with success of their ventures. A group of 287 reluctant entrepreneurs took part in this research. The results support the hypotheses that both reluctance level and success are predicted by previous experience and that these relationships are mediated by some of the characteristics that are attributed to entrepreneurs. Although generally quite successful, most of the participants would prefer to return to their former positions as salaried employees. Our findings emphasize the importance of managerial experience not only on the success of these entrepreneurs, but also on their ongoing reluctance; but also analyzes the importance of relevant personality attributes—of which self-efficacy is most significant—as mediating these relationships.
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