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Women-owned businesses often face challenges accessing markets due to limited access to business networks and the prevalence of gender stereotypes that portray women as incapable of running successful businesses. In light of this, the examination of the relationship between social entrepreneurial traits and the performance of women-owned SMEs in Nigeria is necessary. The study specifically examined the effect of entrepreneurial innovativeness on performance (profitability) of SMEs run by Women in Ibadan, Oyo State. The study also evaluated the role of entrepreneurial risk-taking abilities on performance (profitability) of SMEs run by Women in Ibadan, Oyo State. Descriptive cross-sectional research design was employed to evaluate the relationship between the variables. The study employed frequency percentage counts and inferential statistics to analyse the instrument of the study. As such, the study revealed that there was a negative and not significant relationship between entrepreneurial innovativeness and profitability of SMEs run by Women in Ibadan, Oyo State (r = .006, N= 297, p>.05). On the contrary, the study shows that there was a positive significant relationship between entrepreneurial risk-taking and revenue of SMEs run by Women in Oyo State (r = .341, N= 297, p <.05). Hence, adoption of technology, conduction of risk assessment and feasibility study, update skills and constant synergy between entrepreneurs in same line of business was recommended.