SOCIO-DEMOGRAPHIC DIFFERENCES OF BLACK VERSUS WHITE ENTREPRENEURS

The shift in economic trends and technology has spurred an increase in entrepreneurship in recent years. However, the success of these businesses is not evenly distributed across race, gender, and other socio-cultural attributes. In fact, much of the research suggests unique socio-demographic differences between black and white entrepreneurs. This study compares some outcomes and attributes of black and white entrepreneurs and investigates non-financial variables that contribute to their success. The research found significant differences in age, years of education, number of hours worked, and socioeconomic status among other factors within and across white and black entrepreneur groups. The findings suggest there are legitimate differences between characteristics of black and white entrepreneurs and that further research is needed to understand what factors lead to their success. Understanding these dynamics and creating programs and policy to promote these success factors will contribute greatly to expanding the economy as these firms grow and create more opportunities.