In Kansas City, minority-owned businesses are opening at a higher rate, reflecting a national trend of increased entrepreneurship among Black, Latino, and immigrant communities. Casie Murff, a local entrepreneur, exemplifies this trend with his business, The BeVel Barber Lounge, which he opened after leaving a corporate IT career to pursue his passion for barbering.
Entrepreneurship Driven by Necessity
According to a report by the Ewing Marion Kauffman Foundation, while business creation has rebounded to pre-pandemic levels, many new ventures are born out of necessity rather than opportunity. This is particularly true for minority-owned businesses, which face higher failure rates due to starting out of economic need.
Joshua Akers, director of research at the Kauffman Foundation, highlights that entrepreneurship is a key pathway to building wealth and creating jobs. However, businesses started out of necessity often struggle to grow and sustain employment.
Local Impact and Support
Carlos Gomez, president of the Hispanic Chamber of Commerce of Greater Kansas City, notes that many immigrants, particularly from Latin America, have turned to entrepreneurship after losing jobs during the COVID-19 pandemic. These businesses often provide essential services, such as catering and cleaning, which are in constant demand.
Despite the challenges, the availability of digital tools has lowered barriers for minority entrepreneurs, allowing them to reach broader markets. This has been particularly beneficial for Black and Latino communities.
Challenges and Opportunities
The Kansas City area lags behind the national average in new business creation, with local startups facing higher failure rates. Akers and his team are investigating the reasons behind this trend and exploring solutions to support local entrepreneurs.
Murff’s story is one of opportunity rather than necessity. By employing his staff as W-2 employees, he aims to build a sustainable business that contributes to generational wealth and community support.
Original reporting: The Beacon (Kansas City) — read the source article.
