A systematic analysis of entrepreneurial tasks and socioeconomic conditions is likely to reveal that neglected aspects of personality, such as cognitive abilities or values, are as important as personality dimensions. The analysis is based on a primary survey of 627 Czech entrepreneurs who passed Myers- Briggs Type Indicator Test and short interview. The study found that the entrepreneurial spirit declines over time and that the greatest innovative spirit is found only in the early stages of business. As a result, factors affecting the participation of different types of personality in business in company life have been proposed in connection with the personality type.