The rate of population growth has been declining in most regions of the world
though it remains high in some areas. The overall impact of this is that there is
an increase in the proportion of people aged over 60 years old while the
working population of those aged 25–59 has been growing at a slower pace.
This scenario creates challenges for an economy that is still developing like
South Africa?s. Increasingly entrepreneurship is being seen as one of the ways
in which the problems caused by high unemployment and its associated effects
can be tackled while stimulating economic growth in an economy.
This study, completed by means of a convenience sample of 103 firms in
Johannesburg, collected and analysed the data on small entrepreneurs and
established an understanding of the link between entrepreneurial orientation
and business performance, amongst younger and older entrepreneurs in South
Africa.
The study found that more than other factors the proactivity of the entrepreneur
influenced the entrepreneurial orientation (EO) relationship, while risk taking
and innovation did not have a major effect on this relationship and subsequent
performance of the business (BP). Other key finding of the research showed a
suggestion of age having an inverse relationship with entrepreneurial orientation
and business performance as well. The results of the dummy variable
regression analysis exclude statistical significance testing.
This research is expected to add value to entrepreneurs, future researchers and
policy makers in government by helping identify where to direct their focus in
enhancing entrepreneurial development.