Development of a framework for entrepreneur’s individual characteristics required to successfully run a woman owed SME foundry in South Africa

Abstract

The objectives of this study were to establish entrepreneur’s individual characteristics and intervention measures which are necessary for successful operation of women owned small to medium enterprise foundries in South Africa. This study also sought to establish whether there was a relationship between the intervention measures and entrepreneur’s individual characteristics. The research was quantitative in nature, in which SPSS version 26 and AMOS version 26 statistical tools were utilised to meet the objectives of the study. Population for this research was 117 small and medium enterprise foundries and sample size was 42 participants. The findings reveal that ambitious goals, need for achievement, risk taking, being  visionary, and agility are the most important entrepreneur’s individual characteristics identified. Tailor-made financing programs, export support programs, employee skill development and training, managers training and capacity building, legal framework promoting ease of entrance and exit, and policies supporting green technologies are intervention measures which can make foundries more +successful. Lastly, it was established that there was a positive relationship between the intervention measures and internal non- ndividual factors. It is concluded that entrepreneur’s individual characteristics, when mediated by intervention measures play a role in successful operation of an SME foundry in South Africa.