Minority entrepreneurship in twenty-first century America

Timothy Bates, William D. Bradford, Robert Seamans

    Research output: Contribution to journalArticle

    Abstract

    Prior to the 1970s, minority-owned small businesses were small in size and scope, and common in only a few industry niches. Business owners were severely capital-constrained, lacking in higher education, and training in skilled occupations. The median owner today, in contrast, is college educated, access to financing has expanded, and opportunities to serve corporate and public-sector clients are commonplace. Nearly 40% of all new firms created nationwide in 2015 were minority owned. Changing attitudes in mainstream society reduced traditional barriers. True equality of opportunity among small minority- and white-owned firms of similar size and scope has nonetheless not been achieved. This issue of Small Business Economics examines lingering barriers impeding the development of a more vibrant minority business community. Focusing on access to financing and government procurement markets, articles in this issue offer explicit analyses of enduring barriers, along with explanations of adoptive strategic firm behavior appropriate for reducing those barriers.

    Original languageEnglish (US)
    Pages (from-to)415-427
    Number of pages13
    JournalSmall Business Economics
    Volume50
    Issue number3
    DOIs
    StatePublished - Mar 1 2018

    Keywords

    • Discrimination in financial markets
    • Minority-owned firms
    • Overcoming discriminatory barriers
    • Racial discrimination

    ASJC Scopus subject areas

    • Business, Management and Accounting(all)
    • Economics and Econometrics

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