Management 13th Edition by John Schermerhorn,Daniel Bachrach

Exercise 2

MAKE DATA YOUR FRIEND
Minority entrepreneurs provide 6 million jobs but attract less than 1% of venture capital.
Minority Entrepreneurs Lead the Way

E conomic necessity and career difficulties may help to explain the growth of minority entrepreneurship in the United States. Consider these facts and trends.
There are close to 6 million minority-owned firms in the United States (29% of all business), and they contribute $1 trillion annually to the economy.
In the last census of small businesses, those owned by African Americans had grown by 45%, by Hispanics 31%, and by Asians 24%.
Minority entrepreneurs are less successful than majority entrepreneurs when making pitches to angel investors-15% versus 22% success rate.
Among angel investors, 4.5% are minority and 18% female.
Immigrants are twice as likely as native-born Americans to start new businesses.
If minority business ownership was proportionate to the minority share of the U.S. population, they would number more than 8 million firms and provide more than 17 million jobs.
Minority businesses export to 41 countries on six continents.
YOUR THOUGHTS
What factors can help or hinder the growth of minority-owned businesses Should we invest more in minority entrepreneurship as a way to fight economic disparities in our society What can be done to reduce or eliminate obstacles minorities and women face on their pathway toward entrepreneurship Why aren't minorities more successful in pitches to angel investors Why are minorities and women underrepresented in the ranks of angel investors