Abstract: There is a general agreement among experts that entrepreneurial traits and general behaviour of entrepreneurs are very strong. However, experts have arrived at contradictory conclusions regarding whether these influences have been favourable or unfavourable for the growth of entrepreneurship. Empirical evidence regarding the role is also inadequate and therefore inconclusive as well. It cannot be denied that there is a growing need in this country to study the entrepreneurial traits of srilankan entrepreneurs. In the above background an empirical study was conducted using a sample of 54 small scale entrepreneurs who obtained the ‘Mihijaya’ loan in year 2008 from Bemmulla Samurdhi bank society in Aththanagalla division of Srilanka. The study involved a comparative measurement of levels of noticeable entrepreneurial traits and entrepreneurial success achieved by small scale entrepreneurs, examining links between these variables. The findings suggest that the entrepreneurial traits have a major influence towards the entrepreneurial behaviour. However, it is also observed that the nature of these factors and can make all these attributes of entrepreneurial traits play a favorable role for growth of entrepreneurship in the Srilankan society.