| This study explores small minority-owned businesses, with particular attention to minority owners and minority insurance agents and perceived barriers to success. Small businesses employ 97 percent of the workforce in the United States and represent 44 percent of the payroll of new jobs (Headd, 2010b). Small businesses are of particular importance as they collectively make of 50 percent of the Gross Domestic Product of the United States economy (Clark & Saade, 2010). Given the number of jobs created by small businesses and how much they contribute to the United States economy there has not been an answer to why the failure rate is so high, particularly with small minority businesses. To date, little research has been done on the effects of personal and interpersonal factors on the sustainability and success of such businesses. This study investigates barriers faced by minority small business owners, self-efficacy -- how the beliefs and behaviors can influence decision making in the organizational process.;The study is intended contribute to organizational behavior research by providing new insight into the personal factors and their impact on minority organizations. It also is related to organization development research, identifying the barriers hampering success and identifying ways in which the minority businesses can leverage organization development techniques to increase organization effectiveness. |
