For this assignment, I went back to the annotated bibliography that we completed earlier in the semester. I found three of the articles that I had included as part of that bibliography and found the arguments that each of them made and now I am ready to discuss each of those arguments.
The first article that I chose is “Minority Entrepreneurs In Bankruptcy”. In this article, the author, Rafael Efrat, argues that minority entrepreneurs go bankrupt more often than non-minorities because they are less skilled, have less access to outside funding, and tend to operate in much lower value industries. Efrat’s theories of why these problems exist is useful because it helps bring attention to one of the biggest issues that minority entrepreneurs face in society today. I tend to agree with Efrat, because each of those reasons are generally accepted facts, and put together they help to explain these problems.
The next article that I chose to write about is “Characteristics of the Minority Entrepreneur” by Robert D. Hisrich and Candida Brush. Hisrich and Brush assert that minority entrepreneurs have a specific set of traits and characteristics that define them, for example, they list achievement, opportunity and job satisfaction as being the primary reasons for these people deciding to become entrepreneurs. They also claim that financial rewards were not key motivators for these minorities to start their own businesses. While I believe that the authors are right in their claims about achievement, opportunity, and job satisfaction being key reasons for wanting to start a business, I disagree with their assertion that financial rewards do not play a big factor in that decision. It is human nature to be motivated by money, and I believe that these minority entrepreneurs are no different.
The third and final article I chose for this assignment is “The Solution That Could Help More Minority Entrepreneurs Get Funding” by Adriana Lopez. She states that minority-owned businesses receive significantly less angel funding than non-minority businesses. Lopez then asserts that the reason for this problem is that, in general, minorities come from backgrounds and communities that have lower incomes than average neighborhoods, and therefore their family and friends, who typically are the main sources of business funding, have much less money to give. I agree with Lopez, because it is true that minority neighborhoods are lower income, so this reasoning seems to be accurate.