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Full-Text Articles in Business
Minority Entrepreneurs And Fast Failure, Jesse P. Houchens
Minority Entrepreneurs And Fast Failure, Jesse P. Houchens
Brigham Young University Journal of Public Law
Minority businesses now make up more than a quarter of all U.S. businesses; yet, due to discriminatory lending practices, cultural aversions to debt, and limited access to capital, these businesses continue to have higher failure rates. At the same time, m inority entrepreneurs are more likely to rely on informal lending and less likely to turn to bankruptcy for relief of debt. Doing so slows down failure for minority entrepreneurs — contra Silicon Valley’s new mantra, “fail fast” — and diminishes the minority entrepreneur’s ability to efficiently reallocate resources towards more productive ventures. In this essay, I distinguish the minority …
Minority Entrepreneurs And Fast Failure, John Taylor Jensen
Minority Entrepreneurs And Fast Failure, John Taylor Jensen
Brigham Young University Journal of Public Law
Minority businesses now make up more than a quarter of all U.S. businesses; yet, due to discriminatory lending practices, cultural aversions to debt, and limited access to capital, these businesses continue to have higher failure rates. At the same time, m inority entrepreneurs are more likely to rely on informal lending and less likely to turn to bankruptcy for relief of debt. Doing so slows down failure for minority entrepreneurs — contra Silicon Valley’s new mantra, “fail fast” — and diminishes the minority entrepreneur’s ability to efficiently reallocate resources towards more productive ventures. In this essay, I distinguish the minority …