Entrepreneurs from the Minority Communities

Why is there a need for entrepreneurs from the minority communities?

Social entrepreneurship is a wonderful development in capitalist economics; earning a living (and in many cases turning a profit) by providing for people in need is a conceptual dream come true for many current and aspiring business owners. Many people would nurture their entrepreneurial spirit if it weren’t for fear of ruthless capitalism either forcing them into ruin or corrupting them through greed. With the social enterprise, a business owner can indeed have the best of both worlds, especially in this pioneering stage. Because social entrepreneurship is still very new in the global marketplace, there is lots of room for participation and innovation. As it was during the onset of the technology age, it is now all too easy to get in front of the money and make a unique impact using social enterprise business models, if for no other reason than that they are still very new. However, for minority entrepreneurs, there are additional reasons why social entrepreneurship is so important, and why getting in on the ‘ground level’, so to speak, is so pertinent to our survival.

Minority communities in the United States and abroad suffer disproportionately from poverty and lack of resources necessary for economic and social stability and mobility. According to the University of Michigan National Poverty Center, “Poverty rates for blacks and Hispanics greatly exceed the national average. In 2010, 27.4 percent of blacks and 26.6 percent of Hispanics were poor, compared to 9.9 percent of non-Hispanic whites and 12.1 percent of Asians.” Furthermore, these communities subsequently rely too heavily on government programs to make ends meet, fostering mentalities of entitlement and dependency. Minority social entrepreneurs can bridge the gap between the need and the resources by implementing creative solutions to social and economic problems that serve both the communities and the owners, all through the...