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.