CHAPTER 9: Conclusion.

This study argues that internal colonial conditions hamper economic development in minority markets, in the context of African American and Korean entrepreneurship in the ethnic beauty aids industry on the South Side of Chicago, Illinois. This situation results from several issues surrounding the relationship between mainstream society and minority markets. For instance, the variety of business establishments in minority markets is limited, and undercapitalization stunts the growth of many of them. This is particularly true for African American-owned businesses. In addition, large corporations in mainstream society contribute to the underdevelopment of minority markets. Mainstream conglomerates focus on selling goods and services in secure niches of minority markets and limit their activities in other areas. As a result, minority entrepreneurs are unable to compete directly with these larger companies and end up selling goods and services in less stable niches of minority markets. The effects of underdevelopment and economic dependence in minority markets are further complicated by racial discrimination in mainstream society. Minority entrepreneurs and consumers are often stigmatized in mainstream society and stereotypes are used to rationalize the limited scope of economic opportunities available to them.