Embracing Survivalist Entrepreneurship: How African American Men Leverage Business Ownership out of Economic Necessity

Abstract

There has been extensive research and examination dedicated to the advantages and disadvantages of entrepreneurship, both in general and specifically for African Americans. Significant research has been devoted to understanding the economic outcomes of African American men, and there is an area of opportunity to study how African American men, specifically, can leverage entrepreneurship to increase the probability of successful economic outcomes for themselves and their families. Entrepreneurial research has the potential to be leveraged to combat waning labor force participation rates and heightened unemployment rates among African American men. Leveraging the theories of Trust, Goal-Orientation, Logotherapy, and Social Identity Theory, a study was conducted among United States-based business owners. The sample size was forty-one African American male business owners. The results demonstrate how these African American men have leveraged entrepreneurship to build social capital and wealth, while improving their standard of living, as well as highlight the hurdles and barriers they have endured during the process of business ownership. The majority of African American owned business are owned by African American men, and this study provides insights into the phenomenology of African American male entrepreneurs.