Native American Entrepreneurship
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Despite a general increase in wealth, a majorhty of Native Americans still struggle with the challenges of poverty in the U.S. The statistics on this phenomenon are sobering. Nearly one-third of all American Indians live below the poverty, unemployment among reservation populations averages 35%, and 60% of those who hold jobs that are typically offered by tribal or federal governments make an average of $10,000 less than the national figure (Serwer, 1993, p. 136). While these statistics seem grim, an increasing number of tribes and Native Americans are increasing efforts devoted to private enterprise as a means of resolving the issues confronted by poverty. This is true in terms of individual economic development as it is for promoting the overall economic development of reservation communities, where about half of all Native Americans still reside. This analysis will discuss a number of entrepreneurial efforts currently being undertaken by Native Americans and reservation communities collectively to help alleviate the problems caused by poverty. The steps required for Native Americans to achieve entrepreneurial success will also be addressed. A conclusion will recommend whether private enterprise remains a viable solution for tribes suffering economic despair. While relaxed gaming laws enabled many Native American tribes to develop sound economies from the operation of successful gaming casinos, the past decade has
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by contributing to the promotion of entrepreneurship among other Indians and tribes, ôMy mission is to write about Indian-owned businesses around the state, and the æstateÆ of Indian business, both on and off the 23 reservations in New Mexico.ö
Despite many success stories among entrepreneurial enterprises owned by Native Americans and Native American tribes, there are still a number of steps that tribes must take to help develop the economies of reservation communities. One of these is the development of education and training programs designed to assist Native Americans and tribes in gaining the expertise required to operate a business and to operate businesses in a diverse number of fields and industries. One example that demonstrates this need is that fact that there are only nine banks owned by Native Americans in the U.S. Many Native Americans and tribes are daunted by the prospect of starting a bank, feeling they lack the know how and knowledge required to do so successfully. As J. D. Colbert, president of North American Native Bankers Association, argues, ôOne of the biggest challenges to opening a bank is raising sufficient capital. But for many tribes that isnÆt a big issue û they have money now. What they really
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Some common words found in the essay are:
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Approximate Word count = 1590
Approximate Pages = 6 (250 words per page)
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