This study analyses the risk-taking propensity of male and female entrepreneurs. Primary data were collected from a sample of 400 randomly selected from among the small and medium scale entrepreneurs in Roodepoort and two structured questionnaires were used. The results showed the existence of differences among male and female entrepreneurs’ risk-taking perceptions. However, no significant differences in the mean scores between males and females in the financial and social domains of risk taking perception were found. The results further indicate that there is a significant difference in the means of the entrepreneurs with regard to their overall risk-taking perception in the ethical domain of risk-taking perception, health and safety risk-taking perception, recreational risk-taking perception as well as their business performance perceptions. The study also suggests that there is no correlation between business performance and risk-taking in entrepreneurs. The study highlights that there is no evidence to suggest that risk-taking in different genders plays a role as an indicator in business performance.