Entrepreneurial drivers and performance: An exploratory study of urban minority and women entrepreneurs

摘要

This study examines the relationship between entrepreneur demographics (education, experience), characteristics (personality traits, motivation) and entrepreneurial success in the context of urban minority and women entrepreneurship. Based on a survey of 68 minority and women entrepreneurs from Baltimore, a large city in the USA, the research investigates whether there are significant differences between successful and less successful entrepreneurs in terms of personality traits, motivation, and education and experience levels. Success was measured in terms of average net profit and average sales growth over three years. The findings suggest that entrepreneurs who had more education and experience had higher growth in sales and net profits. Further, successful entrepreneurs were more persistent and enthusiastic, had better sense of achievement, and were more cautious in taking risks.