Scholarly interest in women's business ownership has increased, but few studies offer theoretically-based explanations for the racial differences observed among women entrepreneurs. This paper seeks to remedy this oversight by applying several theories of entrepreneurship to a comparative study of white and minority women. An analysis of survey data from upstate New York shows that these theories can explain why racial differences in women's business ownership exist. In particular, the theories shed light on these differences by calling attention to a gap between the high aspirations of minority women for business ownership and the paucity of formal entrepreneurial resources that are available to these women (e.g. financial capital and human capital).
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