Abstract
This study examines the personal backgrounds, business objectives, modes of operation, and degrees of success of Korean greengrocers and Hispanic grocery store owners in the New York metropolitan area. In so doing, the study seeks to uncover factors that may condition differential business performance among all groups of imigrant entrepreneurs, including Koreans and Hispanics.
A survey of 40 Korean and 72 Hispanic businesspersons revealed that both groups tended to work equally hard in terms of the number of hours worked in the business per week. However, the Korean greengrocers were found to be more successful in terms of the profitability and cash flow generated by their stores. The primary reason for this difference appeared to be the fact that Korean business practices were guided mainly by the profit motive, while those of Hispanics were influenced by such nonmonetary concerns as independence and personal satisfaction. These findings led the authors to conclude that there are alternative measures of material “success” and that the equally strong efforts of both groups of immigrant entrepreneurs have resulted in two different, but important kinds of success. Certain policy implications of this conclusion could lead to further immigrant participation in small business.
Get full access to this article
View all access options for this article.