Women and the minority groups play an important role in the entrepreneurship and investment opportunities in the U.S. The women and minority groups engages in the business investment opportunities and economic development. The business opportunities and challenges influence the extent of involvement of the women and minority groups in the business activities and the general business environment. The cultural values and norms also influence the participation of the minority groups and women in the business environment in general. The accessibility of finances and capital influence the role of women and minority groups in starting new businesses, as well as the growth of such business in the economy. The African-Americans, Asians and the Hispanic groups in the U.S play an important role in the economic development due to their active participation in starting as well as growing the businesses. The groups with disabilities in the U.S also participate in the business activities regardless of the challenges they experience in carrying out such business activities. Such groups reflect the women and minorities entrepreneurship skills. The women and minority entrepreneurship is important in the production of quality products and services thereby promoting economic development. The aspects of discrimination against the women and minority entrepreneurs in the U.S influence the participation of such groups in the economic development activities. The opportunity structures and the access to technological developments also influence the levels of participation of the women and minority groups in the business environment and wealth creation.
The aspects of discrimination based on gender and racial backgrounds in the U.S play an important role in influencing the participation of women and minority groups in starting new enterprises as well as running their business activities in the U.S economy. The women were often not allowed to participate in some business activities due to their role of domestic chores. The engagement of women in domestic activities could not allow them to participate in business activities that need long distance trade. The choice of business activities for women is, therefore, limited due to lack of freedom to conduct many businesses in different parts of the nation. The women and minority entrepreneurs face the issues of discrimination in relation to the types of businesses they are allowed to operate in the creation of wealth. The people from the Hispanic, Asian and African-American groups are discriminated against in the issuance of business permits as well as the regulations and policies in startup and operation of the new businesses. The issues of discrimination, therefore, influence the extent to which the women and minority groups participate in the formation of new businesses due to the bottlenecks and challenges they face is a discriminative environment (Dana, 2007, p.18). The discriminative business regulations discourage most of the women and minority entrepreneurs from starting new businesses or operating their current business. The efforts of the women and minority entrepreneurs in the creation of wealth are influenced greatly by such issues of discrimination. The limitations on the freedom of movement and interaction made the women entrepreneurs difficult to advance or diversify their business and entrepreneurial skills. Discrimination against women, therefore, influence the way in which the entrepreneurial activities help in economic development and wealth creation.
The women and the minority entrepreneurs face many issues relating to the access of capital and financial assistance. The accessibility of capital and finances to start the small businesses by the women and minority groups in the U.S was challenging making the entrepreneurship among such groups very difficult. The inaccessibility to adequate loans and capital to initiate such businesses made it difficult for women and minority groups in the U.S hectic activity. The women and the minority groups in the U.S formed their own cooperatives and unions to help them access finances in order to start new business, as well as creation of wealth and income among themselves. The active participation of women and minority groups in the business environment enabled them to increase their wealth .The high cost of acquiring fiancé by the women and the minority entrepreneurs in the U.S to start small and risky businesses made it difficult for them to access loans and finances. The women and minority entrepreneurs also faced issues relating to the management of the proceeds from their small businesses. The inefficient financial management skills led to the failure and difficulties in the operations of the many businesses formed by the women and the minority groups in the U.S economy. The aspects relating training of financial management helped greatly in boosting the entrepreneurship skills among the women and minority groups in the business environment. The transformation of the financial sector in the modern day made it possible for the women and minority entrepreneurs to have a large scope of financial access, thereby, facilitating the improvement of the business skills among such groups. This led to the advancement in the aspects of wealth creation and economic development.
The aspects relating to the opportunity structures have a great impact or influence on the way in which the women and minority entrepreneurs carry out their small business activities and operations. The nature and structure of the society influence the extent to which the women and minority groups can access the business opportunities in the business environment. The complexity of the business environment in the nineteenth century in the U.S made it difficult for the women and minority entrepreneurs to access adequate business opportunities in relation to starting new businesses and wealth creation in the economy. The political environment also influenced greatly how the women and minority groups carried out various business opportunities and activities .The political and social forces in the environment have a great impact on the business environment. The social and political changes, therefore, have an influence on the availability or accessibility of the business opportunities to the women and minority groups in the U.S economy. The unfavorable political environment made it difficult for the women and the minority entrepreneurs to operate their small business activities in the business environment. This may, therefore, lead to failure of the small businesses hindering growth (Lawrence, 2013, p.26). The creation of a politically and socially stable environment helps in availing many opportunities to the women and minority entrepreneurs in order to boost their business and entrepreneurship skills. The improvement in the entrepreneurship skills will enable the minority groups and women to have a high potential for operation of business activities as wealth creation in the business environment.
Risk taking is an important factor in relation to the women and minority entrepreneurs. The levels of risks involved in the formation of businesses by the women and minority groups varies with various forces in the business environment. The acceptance and the natures of risks involved the formation of such businesses by the women and minority groups influence the types of businesses formed. The fear of risks also prevented the formation or operation of various business activities by the women. They may fear the risks of business failure leading to huge losses to the operators. The extent of financial risks has a great influence on the types of business enterprises started by the women and the minority entrepreneurs. The financial risks facing the women and minority entrepreneurs are often high due to poor financial management skills among such groups of people. The risks in the political environment also have a great influence on the types and sizes of businesses the women and minority entrepreneurs are willing to operate in wealth creation. The volatility and uncertainties in the business environment also influence the nature of business activities carried out by the women and minority entrepreneurs in the business environment. The extent to which the women and minority entrepreneurs take risks influences the profitability and success of their business activities.
The growth of businesses operated by the women and minority entrepreneurs in the U.S is a significant issue in determining the success of business operations. The growth of such enterprises operated by the women and minority groups is subject to various forces both in the internal and external environment. The growth of such enterprises is influenced by the accessibility to resources and skills in operating such businesses. The aspects relating to managerial skills are of the essence in facilitating the smooth growth and success of such businesses in the long run. The nature of roles of the women in the society limits the extent of growth of the small businesses formed by the women in the business environment. The technological advancements also have an impact on growth of the small businesses operated by the women and minority entrepreneurs. The efforts of the women and the minority groups as well as the suitability of the external environment influence the growth of such businesses. The levels of competition from other well established businesses have an influence on the success of future small businesses run by the women and the minority entrepreneurs in the business environment.
The technological advancements in the business environment have an impact and great influence on the success of the small businesses operated by the women and minority entrepreneurs. The developments in technology made the business operations smooth for the women and the minority entrepreneurs. The technological advancements also simplified the business processes and activities in the business environment. Technology opens up new business opportunities for the women and minority entrepreneurs. The technological advancements also helped in boosting the managerial skills in running such small businesses by the women and the minority entrepreneurs in the business environment. Technology is, therefore, an important factor influencing the strategic operations of the businesses operated by women and the minority entrepreneurs.
The ethnic economies have a great influence on the way in which the minority groups operate their business activities. The ethnic aspects are important in determining the effects of minority groups in relation to business operations by the members of the minority groups. The economic roles of the ethnic communities contribute highly to the success and development of business activities operated by the minority groups and the women in the society. The ethnic economies are related to the aspects of merry go rounds in order to boost the members of such groups with financial support. The ethnic norms have an impact on how women carry out their business activities. The ethnic communities often limit the freedom of women in operating their business activities.
The cultural values and norms also influence the types of business activities and operations carried out by the women and minority entrepreneurs. The cultural values determine the types of business activities that the women or minority groups engage in their day to day operations. Culture and values have an impact on the success of various business operations carried out by the minority groups and women in the business environment. The levels of business and the types of products consumed by the people from various cultures influence the nature and success of the business operations. Business networking involves leveraging your business as well as personal connections to an entrepreneur a stable and regular supply of new business. Women and the minority groups have faced many entrepreneurial challenges due to bad networking. Despite these problems, they have strived to excel in this area hence improving the market for their products and businesses in general. The minority groups and women in the United States are adopting online business networking as a means of improving their connectivity. This is the use of social networks as a way of expanding their connections and business contacts as well as promoting themselves s and their businesses online. Networking techniques has allowed the minority groups and women to create a trustworthy circle of business partners to do business with. The transaction time taken by these groups to do their businesses is short hence allowing to increase the average number of business transactions per day and increasing the number of prospective business partners. The minority groups and women also adopted the method of face to face business networking as a means of widening the market for their businesses. This is mainly applied for business transactions that require high quality business relationships.it is also required when dealing commodities that need high security levels and extensive negotiation between the business partners. The groups that operate with referral business networking clubs also prefers this method of networking as it is the most appropriate on this type of business. They have as well adopted the usage of networked businesses. Those groups who have already excelled in business are seen as business networks by other growing businesses. This is because it will help them to meet new suppliers and widened the market for their goods when they cooperate with the already well established businesses.
The minority groups like the Hispanic, the Asians, African-American, the people with disabilities and women in the United States have faced greater education challenges in the recent past. Despite of all these, they have lived to overcame them hence advancing in education as well as extensive training to improve their skills of running their entrepreneurial businesses. These groups have acquired the right education skills that allows them to get the right job as opposed to the recent past where they were excluded due to lack of the required education. The provision of adequate education to these minority groups discarded the stereotypical beliefs that members of the various minority groups and women are inconsistent and cannot advance in businesses and other entrepreneurial activities (Galloway, 2012, p.22). But these groups have proven that wrong as most of the entrepreneurial businesses they run have advanced quickly even as compared to the ones that are run by other people of the society in the United States. Because of lack of good education backgrounds and lack of a well-developed training system, most of the minority groups and women who participated in businesses were evaluated unfairly. This limited the advancement of their business. Since they acquired the correct education as well as well-developed training skills they have been evaluated correctly and their businesses have improved significantly as compared to the ones before the acquisition of education. Most of the women and minority groups whom participated in businesses and other entrepreneurial activities were not credited with competence because they believe that they lacked enough adequate education. But after they acquired these education, their businesses have advanced quickly and it was undeniable not credit them with competence. This therefore help to advance their entrepreneurial businesses faster.
In conclusion, the role of women and minority groups in the business environment is very important in boosting economic developments. The women and minority aspects of entrepreneurship are influenced by various forces in the business environment. The aspects relating to risk taking, growth and technological advancements plays a crucial role in facilitating effective entrepreneurship skills among the women and minorities in the business operations. The cultural values and norms also have an influence on the way in which women and minorities develop skills in entrepreneurship. The aspects of discrimination also affects the ways in which women and minorities operate their business activities in the business environment.
References
Dana, L. P., & Edward Elgar Publishing (2007). Handbook of research on ethnic minority entrepreneurship: A co-evolutionary view on resource management. Cheltenham, U.K: Edward Elgar.
Galloway, L., & Cooney, T. M. (2012). Silent minorities of entrepreneurship.
Glasco, D. (2013). Using Capitalism for a Higher Purpose. Georgia Institute of Technology.
Lawrence, A. T., & Weber, J. (2013). Business and society: Stakeholders, ethics, public policy. New York, NY: McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc.
Wood, G. J., Davidson, M., & Fielden, S. L. (2012). Minorities in entrepreneurship: An international review. Cheltenham, U.K: Edward Elgar.
