Minority Entrepreneurship

Abstract

Entrepreneurship is a significant constituent of local progression and promoting entrepreneurship is one of the key actions to improve economic and social progression. To present entrepreneurship we need to be acquainted with the limitations that affect entrepreneurship to get over the obstacles and enhance new guidelines and actions to make new projects.

The limitations are not the same for all the individuals in community. Although some obstructions are general to all individuals, some groups of societies have to face specific obstructions, namely, women, adolescents, individuals with disabilities, minority individuals, who are culturally unprivileged, jobless and individuals living in non-urban or affected areas.

This paper provides an insight about the problems minority entrepreneurs face while raising finances and the recent development is U.S. to support minority entrepreneurship.

Table of Contents

Abstractii

Introduction1

Discussion1

Review of Literature1

Entrepreneurship2

Minority entrepreneurship2

Barriers to Minority Entrepreneurship3

Access to Opportunities3

Financing Problem3

Why banks / lenders are reluctant to finance?4

Ethnicity4

Fear of negative cash flow5

Mismanagement of Marketing Funds5

Development to support minority entrepreneurships in U.S.6

Certification6

Government Contracts7

Mentors7

Conclusion7

References9

Minority Entrepreneurship

Introduction

Entrepreneurial success may be viewed differently from person to person. Success is defined as: favorable or desired outcome; also: the attainment of wealth, favor, or eminence. As entrepreneurship can include many different business sizes, it's not the amount of wealth it is just being able to make money off of your own business venture (Admiral, 1996).

Minority entrepreneurships have been the topic of growing interest from a wide range of resources these days for a number of reasons. From an economic viewpoint, it can be suggested that the capability of western financial systems to be business based, which will depend on their capability to motivate and support businesses in all areas of community, such as ethnic minorities.

Minority businesses can also be promoted by reducing social exemption and leading to increase in existing requirements in groups that can be often raised among the more deprived in community. Moreover, because of a propensity for cultural unprivileged to focus in particular places, the progression of some local financial systems, and the lifestyle within them, may be intensely affected by the nature and extent of cultural community business progression.

Discussion

Review of Literature

The Literature review is indicative of the preliminary research on the research topic. The research will be gathered from various academic sources as well as from the qualitative methods of research. The main conclusive data will be the result of the qualitative methodology.

Entrepreneurship

Entrepreneurship is often equated with business start-ups and therefore an entrepreneur is one who organizes, manages, and assumes the risks of a business or enterprise (Acs, 1996). Defining entrepreneurship in the simplest sense could be that the entrepreneurship means starting a one's own business. Entrepreneurship education not only provides the knowledge needed for such an endeavor, but instills the necessary confidence for assuming risks that is required for business owners (Aldrich et al. 1993).

Minority entrepreneurship

Minority entrepreneurship is a set of relationships and frequent styles of interaction among people giving typical nationwide qualifications or migration experiences.

However, this narrow definition does not properly encompass the complexity behind the entrepreneur. People are not required to start ...