Abstract: This study examines the constructs of entrepreneurial competencies and entrepreneurial personality among entrepreneurs in Small and Medium Enterprises (SMEs) and their impact on entrepreneurial success. Research in Small and Medium Enterprises (SMEs) has grown in leaps and bounds during the last decade. While examining the links between the performance of SMEs and economic growth, the secrets of entrepreneurial success have continued to be a great fascination to researchers. The Global Entrepreneurship Monitor (GEM) 2002 report shows that the national level of entrepreneurial activity has a significant association with the subsequent level of economic growth. Hence, this study aims at finding out the characteristics of entrepreneurs towards success in SMEs. A sample of 250 entrepreneurs from SMEs was chosen from selected districts of Karnataka, India. The two analytical scales, entrepreneurial competency scale and entrepreneurial personality scale were used to measure their impact on entrepreneurial success. Structural Equation Modeling (SEM) was used for testing of the hypotheses. The findings of the study revealed that entrepreneurial competencies and entrepreneurial personality are unique constructs that influence entrepreneurial success.