Peacock Scholarship

 

Profiles of Hispanic-owned Small Businesses in Urban New Jersey Public Deposited

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The purpose of this study is to investigate business practices, processes, decision-making and other characteristics of Hispanic-owned businesses in an urban area. Due to the fact that immigrant-owned businesses face unique challenges and may have differing approaches to small business management, a close examination of these businesses is an important area of research. A qualitative survey method was administered in face-to-face interviews of a small sample of Hispanic-owned businesses in Elizabeth, NJ. The survey examined the country of origin, possible inheritance, location preferences, capital, marketing, networking, involvement in the local community, struggles within the business, and successes as well as failures. While the study only looked at a small sample of businesses, several findings from these Hispanic-owned business surveys were relevant and can be explored further in a wider sample of businesses. None of the businesses in the sample claimed high success rates, but they all reported earnings were sufficient to stay open and to at least cover their family and business expenses. Although breaking even was a common trend, no one reported plans of closing the business anytime soon, which is strong indicator of the cultural background. it is apparent that profit is not the principal motive for these Hispanic business owners, and that more complex cultural and family influences affect behavior and decision making in many of these firms.

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  • 06/17/2021
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