The agitations of both policymakers and researchers to the growth of small and medium enterprises in developed and developing countries have been a major concern. One major issue that has been inhibiting the ability to assist this important sector to achieve higher performance is the lack of characteristics on the part of the entrepreneurs which results in low product quality, a lack of competitive advantage, and a decrease in organizational performance. The main objective of the study was to examine the effect of entrepreneurial characteristics on the business performance of registered small and medium-scale enterprises (SMEs) in Osun State Nigeria. The methodology used in gathering information was a questionnaire with a study population of 1,416 and a sample size of 312 SMEs gotten through the Taro Yamane sample size determination formula made up of the respondents from the selected SMEs in Osun State. The statistical technique used was multiple regression analysis and the results showed that a statistically strong and positive relationship exists between product knowledge and product/service quality (R square = 0.909 p< 0.05), the vision has a significant influence on customers’ satisfaction (R square = 0.575 p < 0.05) and that creativity has a strong impact on competitive advantage (R square = 0.879 p < 0.05). This result is statistically significant as the p-value of the results (0.000) is less than the 0.05 level of significance set for the study. This indicated that product knowledge has a significant effect on product/service quality, vision affects customer satisfaction and creativity has a significant effect on competitive advantage. The study recommended that small and medium-scale enterprises should have full knowledge of the products they produce to increase service/product quality. They should also have a vision of where they want their company to be in the future to increase customer satisfaction. And lastly, they should use their creativity or intellectual knowledge and skills to earn a living and expand the scope of their organization to gain a competitive advantage.

Keywords : Entrepreneurship, Youth, Business, Performance and Small and Medium Enterprise.