Although minorities are more likely to engage in start-up businesses than Caucasians, minority entrepreneurs are less likely to get their enterprises off the ground or succeed in growing their businesses. Why do minority-owned businesses have higher failure rates, lower sales, lower profits, and less employment?
The papers in this volume of The ANNALS review the three ingredients to creating a successful business:
o Skill level and capability of the entrepreneur or the management team o Access to financial resources and venture capital o Market accessibility for the products or services provided by the enterprise
Examining each of these vital factors, the authors address the effects of discriminatory barriers faced by minority business enterprises (MBEs) and examine whether the entrepreneurial process is more difficult for minorities than it is for whites. By focusing on the relationship between MBEs and each of these fundamental building blocks of business, this volume of The ANNALS offers explanations as to why it has been more difficult for minorities than for whites to succeed at entrepreneurial enterprises.
Despite higher barriers for minorities, the nature of minority business has grown, and the size and scope has expanded as business diversity continues to flourish. The pioneering research in this volume of The ANNALS reflects the current diverse business environment by including research papers on the experiences of Latino entrepreneurs, as well as those of African-Americans. To date there has been a lack of substantial research and analysis on Hispanic entrepreneurship, but two intriguing studies included in this volume address that void.
Scholars, students, and researchers from a wide range of disciplines will gain valuable insights and understanding into this vibrant field of research, presented in a volume that propels the study of entrepreneurship forward. Those involved in the disciplines of business, organization studies, small business/entrepreneurship, strategic management and business policy, economic and development studies, and ethnic studies will find this volume of The ANNALS to be an important and fitting collection of substantial and relevant research as well as a springboard for future research in this growing area of study.
Fostering Research on Minority Entrepreneurship - Robert Strom, Ph.D
Introduction: Advancing Research on Minority Entrepreneurship - Timothy Bates, William E. Jackson, III, and James H. Johnson, Jr.
Latino Self-Employment and Entrepreneurship in the United States: An Overview of the Literature and Data Sources - Bárbara J. Robles and Héctor Cordero-Guzmán
Mexican-Hispanic Self-Employment Entry: The Role of Business Start-Up Constraints - Magnus Lofstrom and Chunbei Wang
Access to Financial Capital among U.S Businesses: The Case of African-American Firms - Alicia M. Robb and Robert W. Fairlie
Small Firm Credit Market Discrimination, Small Business Administration Guaranteed Lending, and Local Market Economic Performance - Ben R. Craig, William E. Jackson III, and James B. Thomson
Traits and Performance of the Minority Venture-Capital Industry - Timothy Bates and William Bradford
Secrets of Gazelles: The Differences between High-Growth and Low-Growth Business Owned by African American Entrepreneurs - Thomas D. Boston and Linje R. Boston
Exploring Stratification and Entrepreneurship: African American Women Entrepreneurs Redefine Success in Growth Ventures - Jeffrey Robinson, Laquita Blockson, and Sammie Robinson
Building Ventures through Civic Capitalism - Candida Brush, Daniel Monti, Andrea Ryan, and Amy Gannon
Tax Refunds and Microbusinesses: Expanding Family and Community Wealth Building in the Borderlands - Bárbara J. Robles