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Finance & Accounting
Pages 8 (2008 words)
Student's Name: Professor's Name: Ethnic Entrepreneurship 05 May 2011 Introduction Many people often wonder why ethnic people often fail at entrepreneurship ventures. Although governments had tried their best to develop successful ethnic business people, they face some problems which hinder these efforts…
Other important factors are the number of immigrants in a country, the rate of growth of that ethnic population (because ethnic entrepreneurs tend to serve their niche markets first) and the general age level of that ethnic population (Audretsch, 2002:133). And because of the tendency to provide goods and services to their own ethnic group, a result is super-saturation of that business type in specific industries with the resultant high rates of failure of providing products or services in a small market that is unsustainable for a normal business size. This paper attempts to look deeper beyond language and cultural barriers as factors to explain why it is difficult to make an over-arching set of policies. A successful formulation of this set of policies could be used as guide to future policy formulation that will improve their chances of success. Entrepreneurship plays a decisive role in job creation, economic growth and international competitiveness but the lack of an over-arching set of policies makes it very difficult to have a grand plan that will work in all situations. In other words, there are also the cultural traditions and practices which might make ethnic people unsuitable as entrepreneurs. ...
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