The problem of entrepreneurial shortage as it affects the growth of industry in the less developed countries would seem to have two mutually reinforcing aspects i) The economic environment not generally conducive to the emergence and training of the persons likely to prove successful in initiating industrial activities, and (ii) That even if there was a good supply of such persons, their task as industrial entrepreneurs in a pre-industrial economy would tend to be an extremely difficult one. They shall have to start from the scratch. The personal traits of the respondents represent the psychological framework of the respondents to know the business opportunities and to start and manage the business. The personal traits consist of so many psychological aspects. Entrepreneurship is essential function and behaviour manifestation of a person for shifting resources from areas of low productivity to higher productivity. It is traits like willingness to take risk, high economic achievement motivation, self-confidence, problem solving disposition, adequate knowledge and skill, ability to face uncertainty and good managerial ability. This study will be of immense use for the policy makers and administrators engaged in the development of the small scale industrial sector in the southern districts of Tamilnadu. This study may also be of good use to the academic fraternity engaged in the state’s industrial development studies.