Disadvantaged Entrepreneurs Face Special Challenges

In 1995, David Kiger founded Worldwide Express Operations, LLC, in Dallas, Texas. The company has grown to become a leading reseller of UPS-based shipping services to small and mid-sized firms across the United States, but has also seen its share of challenges. In addition to the host of logistical problems common to emerging businesses, it lost its major business partner in 2008 and struggled to keep franchise owners happy and operations afloat.

Today, WWE and its staff of 1,000 are responsible for delivering in excess of 10 million parcels annually. David Kiger now offers advice to a new generation of entrepreneurs through his website at www.DavidKiger.com. He has also begun reaching out to businesspeople starting from challenging circumstances.

Men and women from economically and socially disadvantaged backgrounds experience a special set of problems and challenges that go beyond the normal growing pains associated with any new business. Throughout North America, an increasing number of such individuals are opting to start their own businesses, and often seek advice from a variety of enterprise initiatives. Whether based at a university or nonprofit organization or operated through a volunteer mentorship committee, these groups can provide insights into best practices in marketing and branding, developing a social media presence, and dealing with technology and legal issues.

Even more than other new business owners, entrepreneurs who come from difficult economic circumstances often find it more difficult to acquire start-up capital and find business partners than people from higher socioeconomic classes. Additionally, they may be more likely to have their loan applications rejected or encounter greater-than-usual borrowing costs. Organization, as well as individuals like David Kiger, can provide much-needed advice and support to entrepreneurs, especially in the early stages of company development.

Advertisements