Personality traits, organizational factors, and environmental factors have been studied by entrepreneurship researchers as causes of new venture success; however, from 1961 to 1990, research about entrepreneurs' traits found only weak effects (Aldrich & Wiedenmayer, 1993). Recently, a growing cohort of psychology-based researchers has renewed interest in entrepreneurs' personal characteristics as predictors of success by moving beyond the past focus on traits to study competencies, motivation, cognition, and behavior. The main purpose of this paper is to provide a review and offer a theoretical extension of research on the social and psychological factors that influence the individual propensity to new ventures creation, and offer suggestions about future directions for this topic.