black and Latino managers to exit corporate jobs and start businesses. When their new success attracts upgraded employment opportunities, those who are not entrepreneurs at heart close shop to resume corporate careers. Reynolds agrees: “Well-educated minorities may have other attractive work options, which compete with pursing their startups.”
SIZE OF INVESTMENT
| ETHNIC BACKGROUND | Up to $5,000 | $5,000- $15,000 | $15,000- $20,000 | $20,000- $100,000 | $100,000 & UP | ALL |
| White | 66% | 76% | 74% | 84% | 91% | 75% |
| Black | 20% | 6% | 14% | 12% | — | 12% |
| Hispanic | 12% | 6% | 3% | — | 3% | 6% |
| Other | 2% | 11% | 9% | 5% | 6% | 6% |
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SOURCE: ASSESSMENT 2004: ENTREPRENEURSHIP IN THE U.S.