Research Symposium

BIO

I am from Tampa, Florida, and currently on a pre-medical pathway. I currently plan on becoming a physician due to my passion for clinical, research, and medicine. I also have an aspiration for the field of business and entrepreneurship, where I can someday own my own practice.

How do Entrepreneurs Launch and Scale their Business in the Context of Economic Adversity and Poverty

Abstract

Entrepreneurs in low-income and economically challenging environments commonly operate under major constraints such as limited financial resources, weak institutional support, and small opportunity horizons. Regardless, many of these entrepreneurs can launch and scale their business despite the challenging conditions. This research explores how entrepreneurs can navigate economic adversity and identify the application of strategies they used to achieve growth in their business environment. The study focuses on the classical practical approach such as adaptation of business models, making use of limited resources, creating a network, and leveraging that connection. It also examines the personal experience of resilience, learning, and opportunity recognition and application. By collecting the lived experience of entrepreneurs working under multiple frames of constraint, this research moves beyond conventional growth models that are commonly used to maintain stable economic conditions. The findings are directed at finding insights for entrepreneurs, policymakers, and other organizations seeking to assist business growth in more economically challenged communities.

Keywords: Entrepreneurship, Economics, Adversity