Avery Smith

English 112-Issue Report

Mar 17, 2019

Successful Minority business

Usually Minorities like African Americans do not get the business awareness they

deserve rather white men do get business awareness and success.

The performance recreation of top Minority-owned employer businesses is

comparing with white businessmen. Design and innovation using fast growing

information from a sample of the largest minority established employer business

in the US today. Findings that complex and volatile industry have a significantly

greater negative impact on minority businesses than white owned businesses.

(Smith)

What this tells us is that a survey was done, and it shows that they could not get great

location or market skills do to white businessmen wouldn’t allow them in because they was in a

dominant location. Territory is key in business success. Social volatility is associated with one of

the most difficult US business environments.

“Just about every business or company needs to market online. The ability to

reach a large target audience and potential customers all over the world are all reasons

why black owned businesses should market online more. Businesses can customize their

marketing to those specific audiences to attract those cultures. Failure to do this will

ultimately lead in your company failing. Moving to a lower stage like executing
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inequality may lead to a deep impact on US economy and job opportunities. This makes

it harder for African Americans to get a jump start on their business. It hard to get their

foot in the door while its already inequality (Lee).”

Although not appreciated, minorities such as African Americans usually have history of

activist's success no matter the odds. Minorites tip the scale when it comes to starting a

business. Other sourced discrimination acts by industry leaders' minorities from other business

opportunities. This involvement in minority owned businesses in key industries to assess

implications for more of the younger generation and hiring potential. Allowing the numbers of

minorities owned businesses are increasing; and these businesses are providing greater

contributions to the social economic progress of minorities and potentially other disadvantaged

groups, evidence that minority owned businesses suffer adversely from unequal access to

capital markets and institutional barriers is prevalent. A wealth gap between minority owned

business and non-minority business owners exists and for some industries has widened, as

survival of African-American owned business is threatened.

“With little exceptions, the findings suggest that minority entrepreneurs would be wiser

to orient their business activities outside rather than inside the ethnic circle. The

implications of these findings for economic development planners are talked over and

elaborated. Special attention is given to the limits that appear inherent in community”

(Ingram).
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Minority entrepreneurs were able to develop important businesses that survived the

worse climate of race relations around the early nineteenth century.

At the very last of the nineteenth century W. E. B. Du Bios observed, "It is the

mass amount of the Negro population in the main that gives the Negro businessman his

best chance (Ingham)."

Even Minorities in the South were very poor individually they formed a mass

market. Minority entrepreneurs opened corner stores, Barbershops, billiard halls,

beauty parlors, and funeral homes. African Americans rarely faced competition from

established white owned companies, which refused to work in black neighborhoods.

From these small beginnings, black business districts, forming the backbone of new

black communities.

Situations evolve the form and survival of black and other minority owned businesses.

Certainly, strict programs and general economic trends have very important influences.

Observers also cite several other factors, including neighborhood support, increased

networking, efforts to change inner cities, increased levels of education and business

experience, and improved access to capital. “Small business owners are studied in a survey of

socioeconomic and financial theories showing published reports. Minority entrepreneurs and

business owners have a different educational background, financial resources for loans, and

building social capital (Christopher).”

Businesses differ in terms of finances, market investment, and potential growth. The

businesses achieved impressive increases in market share and sales revenue during the period
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under consideration. As far as new business creation is concerned, black or Minority business

owners were the most active in the market, followed by Hispanic business owners. California,

Texas, and New York were the homes for the great majority of minority owned businesses. As is

the case with white-owned businesses, minority businesses contribute to the country’s

employment, innovation, investment and income. Federal and state agencies such as the Small

Business Administration need to increase their efforts to support minority entrepreneur to start

business ventures.

The wave towards ethnic difference is in this country will continue well into the twenty

first century. Today minority groups make up more than one quarter of this country's

population. Here, Cooper discusses the future of Minority business. The first objective is

Technology is forever changing. What’s the fastest option today may not be tomorrow. So it

came as no surprise that competitors such as Redbox and Netflix crept in the night and stole

their reign. You must stay relevant with technology if you want any shot at being a true

contender in the marketplace. The second objective was to process the relationship of

characteristics in firm and firm owners' ethnicity and other demographic variables. Companies,

especially black-owned companies, need to sit down and have solid course of action for their

new business. Find out what works and what doesn’t work. What do the customers need? How

can market your business in the right way? All of these things are essential before you start

your business .If more people can get aware of these factors that make Minority businesses so

challenging to be successful maybe, we can get more people Minorities to be successful.

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Work cited

Christopher, Jan E. "Minority Business Formation and Survival: Evidence on Business

Performance and Viability." Review of Black Political Economy, vol. 26, no. 1, 1998, pp.

37-72. ProQuest,

https://login.proxy039.nclive.org/login?url=https://search.proquest.com/docview/2037

27853?accountid=10163.

Cummings, Scott. "Minority Entrepreneurship in the Suburbs: Protected Markets and Enclave

Business Development." American Planning Association.Journal of the American

Planning Association, vol. 65, no. 1, 1999, pp. 50-61. ProQuest,

https://login.proxy039.nclive.org/login?url=https://search.proquest.com/docview/2296

48828?accountid=10163, doi:http://dx.doi.org/10.1080/01944369908976033.

Ingham, John N. "Building Businesses, Creating Communities: Residential Segregation and the

Growth of Minority Business in Southern Cities, 1880-1915." Business History Review,

vol. 77, no. 4, 2003, pp. 639-665. ProQuest,

https://login.proxy039.nclive.org/login?url=https://search.proquest.com/docview/2744

26524?accountid=10163.

Lee, Yoon G., PhD., Kenneth R. Bartkus PhD., and Myung-Soo Lee PhD. "The Diversity of Legacy

Motivation: Succession Planning of African-American, Mexican-American, and Korean-

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American Business Owners." American Journal of Entrepreneurship, vol. 8, no. 1, 2015,

pp. 71-93. ProQuest,

https://login.proxy039.nclive.org/login?url=https://search.proquest.com/docview/1703

375458?accountid=10163.

Smith, Delmonize A., and Zhi Tang. "The Growth Performance of Top Minority Businesses."

Management Decision, vol. 51, no. 1, 2013, pp. 163-172. ProQuest,

https://login.proxy039.nclive.org/login?url=https://search.proquest.com/docview/1288

023371?accountid=10163, doi:http://dx.doi.org/10.1108/00251741311291364.