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This section offers an approach to analyzing research on race and entrepreneurship, and analyzes management, moneyand markets as sources of racial gaps in business performance. Introduction The racial categories of persons in the U. Minority entrepreneurs, especially Black and Hispanic business owners, are still underrepresented among business owners in Failure in small business essay U.
We know there is still a substantial racial and ethnic gap, and inequality persists among entrepreneurs with different racial backgrounds.
The sources of the gaps in the performance of minority firms can be examined through three key factors for successful small-business ownership: These traits result in lower success at starting new businesses, greater propensity to enter business lines with low entry barriers thus higher failure ratesand lower business survival rates Van Der Sluis, Van Praag, and Vijverberg Cassar Lofstrom and Bates These factors might reduce the gaps in the performance of new Black and Hispanic startups.
Black and Hispanic families have lower wealth levels than White families Kochhar, Fry, and Taylor McKernan, Ratcliffe, Steuerle, and Zhang Bradfordwhich results in the lower equity levels of new Black and Hispanic businesses compared to White businesses. Discussion The interest in minority entrepreneurship in the U.
Successful entrepreneurship allows individuals to fulfill their potential to create value for themselves and others. Business ownership can reduce the racial disparity in economic well-being. Successful entrepreneurship can improve the overall economic status of the U.
These concerns have led to a large body of research on racial differences in entrepreneurship in the United States. Sociologists have studied minority entrepreneurship from the lens that the distinguishing drive for entrepreneurship among minorities is the avoidance of restricted access to or unfair treatment in employment because of race.
Definition and differences within racial groups The census officially recognizes these racial categories: The Native American, Hawaiian, and Pacific Islander categories lack many in-depth studies of their entrepreneurial pursuits and outcomes and are essentially understudied.
Although researchers typically generalize about three major groups of minority entrepreneurs Black, Hispanic, and Asian there are differences within these groups e. This overview does not distinguish within a subgroup, nor does it separate minority groups by gender or by immigrant status.
First, nascent entrepreneur NE traits distinguish persons seeking to start a business from those not seeking to start a business. Second, outcomes of nascent entrepreneurship, or traits that distinguish the NE traits that result in new firms from those that do not result in infant firms.
The third stage of analysis concerns traits and performance characteristics of operating firms. The following discussion distinguishes these stages.
A review of parity conditions in among firms with fewer than employees the latest U. Census data available U. Census Bureau is Hispanic: We focus on these two groups because Asian-owned businesses are close to parity; Asian:When it comes to essay writing, an in-depth research is a big deal.
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An Exploration of Factors that Lead to Failure of Small Businesses in the Kagiso Township by BOYSANA LEPHOI MBONYANE MINI-DISSERTATION submitted in partial fulfillment of the requirements for the. Karen Gordon Mills is a Senior Fellow at Harvard Business School and at the Mossavar ‐ Rahmani Center for Business and Government at the Harvard Kennedy School focusing on U.S.
competitiveness, entrepreneurship and innovation. Small businesses have been considered the mainstay in countries around the world. In many European countries for example, the small business has been considered crucial to the success and flourishment of the country in general.
Most individuals start upon a small business venture in the hopes of. The challenge for all small business owners is that having donations come back in the form of growth is a necessity — not a benefit. All too often, it’s this difference that keeps the lights on and the doors open. failure of small scale business in nigeria: causes and solutions(a case study of selected firms in enugu state) ABSTRACT This study is set to investigate the causes of failure in small scale enterprises in Nigeria, with a view to proffer solutions.