Entrepreneurship As a Route Out of Poverty : A Focus on Women and Minority Ethnic Groups

This book examines how entrepreneurship can be used as a tool to escape poverty. With relevance for both SDG 1: ‘No Poverty,’ and SDG 8: ‘Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all,’ it pays special attention to women and minority ethnic groups. Offering a fresh perspective on entrepreneurship as a means of upward social mobility and rooted in research, the book explores the issue in three ways. Firstly, it pays special attention to the nexus between the entrepreneur, resources, institutions, opportunities, necessities, and the environment for drawing a comprehensive picture of how individuals could use entrepreneurship for successful upward social mobility in a changing world. Secondly, it emphasizes the peculiar challenges that female entrepreneurs face, how those challenges can be overcome, and how female entrepreneurship may be a route to women’s socio-economic advancement. Thirdly, it highlights the challenges faced by ethnic minority business owners and how such ethnic minority businesses could thrive amid institutional voids as well as direct and indirect forms of discrimination. Based on the latest research from developed and developing countries, the book offers compelling insights for sustaining entrepreneurial ventures in an evolving world. Preface Acknowledgements About This Book Contents About the Author List of Figures 1 Introducing Entrepreneurship as an Important Ally in the Fight Against Poverty 1.1 What Is Entrepreneurship? 1.2 Why Do People Become Entrepreneurs? 1.3 Pushed Versus Pulled Entrepreneurship: A Common Dilemma in Developing Countries 1.4 Pushed into Entrepreneurship? 1.5 Pulled into Entrepreneurship? 1.6 The Link Between Entrepreneurship and Poverty Entrepreneurship as a Means of Alleviating Poverty Poverty as a Barrier to Entrepreneurship Differences Between Entrepreneurship in Developed and Developing Countries How Does Entrepreneurship Help Reduce Poverty in Developed Countries? How Does Entrepreneurship Help Reduce Poverty in Developing Countries? The Risky Side of Entrepreneurship in Developed and Developing Countries 1.7 Social Entrepreneurship 1.8 Conclusion of Chapter References 2 Entrepreneurship Versus Paid Work: Markets, Entrepreneurial Ideas, and High-Value Entrepreneurship 2.1 Investigating When Entrepreneurship Is Better Than Paid Employment When Paid Employment Can Be Better Than Entrepreneurship When Entrepreneurship Can Be Better Than Paid Employment Household Strategy in Terms of How to Participate in the Labour Force 2.2 Entrepreneurs and Markets Conceptualising Markets and the Forces That Shape Markets Demand, the Price Elasticity of Demand, and Income and Substitution Effects The Typical Demand Relationship Substitution, Customary, and Perpetual Price Points 2.3 The Typical Supply Relationship 2.4 Supermarkets Versus Small-Scale Entrepreneurship 2.5 Where Do Entrepreneurial Ideas Come From? 2.6 High-Value Entrepreneurship 2.7 Conclusion of Chapter References 3 Pathways to Successful Entrepreneurship in Developed Countries 3.1 The Link Between Poverty and Entrepreneurship in Developed Countries Why Does Poverty Persist in Developed Countries? 3.2 How Entrepreneurship Can Help an Individual Escape Poverty in a Developed Country 3.3 Barriers to Entrepreneurship in Developed Countries 3.4 What Can Lead to Successful Entrepreneurship in Developed Countries? 3.5 How Entrepreneurs Can Finance Their Businesses 3.6 How Entrepreneurs Can Scale up Their Businesses 3.7 The Link Between Strategy and Entrepreneurship 3.8 Conclusion of Chapter References 4 Pathways to Successful Entrepreneurship in Developing Countries 4.1 Differences Between Developed and Developing Countries 4.2 Why Does Poverty Persist in Developing Countries? 4.3 How Can Entrepreneurship Help an Individual Escape Poverty in a Developing Country? 4.4 Why Is Entrepreneurship More Difficult in Developing Countries? 4.5 How Can Entrepreneurs Succeed in Developing Countries? 4.6 How to Manage Entrepreneurial Risk 4.7 Conclusion of Chapter References 5 Success in Female Entrepreneurship 5.1 Conceptualizing Female Entrepreneurship 5.2 Important Factors that Help Female Entrepreneurs Succeed 5.3 How Can Female Entrepreneurs Increase Their Chances of Success? 5.4 Conclusion of Chapter References 6 Success in Ethnic Entrepreneurship 6.1 Conceptualizing Ethnic Entrepreneurship 6.2 Important Factors that Help Ethnic Entrepreneurs Succeed 6.3 Policies that Increase the Chances of Success for Ethnic Entrepreneurs 6.4 Conclusion of Chapter References 7 Conclusion: Contemporary Issues in the Entrepreneurial Fight Against Poverty 7.1 How Modern Trends Are Affecting Entrepreneurship 7.2 How the Internet of Things Is Affecting Entrepreneurship 7.3 How Climate Change Is Affecting Entrepreneurship 7.4 How Artificial Intelligence Is Affecting Entrepreneurship 7.5 Conclusion of Pivot References Index