Gbadamosi, “Exploring the Growing Link of Ethnic Entrepreneurship, Markets, and Pentecostalism”
Gbadamosi, Ayantunji. 2015. Exploring the Growing Link of Ethnic Entrepreneurship, Markets, and Pentecostalism in London (UK): An Empirical study. Society and Business Review 10(2).
Abstract:
Purpose
While many issues about the entrepreneurial engagements of African-Caribbean (AC) have been discussed in the literature; there is far less studies documented about the link of these activities to faith, especially in the context of Pentecostalism. Hence, this research unravels how membership of Pentecostal fellowships aids the entrepreneurial activities of AC members.
Design/methodology/approach
Adopting the interpretive research paradigm, a total of 25 tape-recorded, semi-structured, in-depth interviews were conducted with AC entrepreneurs who are members of Pentecostal faith-based organisations in London, and Pastors in this same sphere. 16 of the respondents are entrepreneurs running and managing their businesses while seven are Pastors, and the remaining two fall in both categories as they are both entrepreneurs and still serving as Pastors in churches in London. Rather than merely serving as gatekeepers for information, the pastors are active participants/respondents in the study.
Findings
The paper highlights the challenges confronting the African-Caribbean ethnic entrepreneurs but also suggests that those in the Pentecostal faith are motivated and emboldened by the shared values in this religion to navigate the volatile marketing environment. It unveils participants’ faith in God as their key business survival strategy. It also shows the unwavering confidence of the respondents that this religious stance results in outstanding business successes like increase in sales and profits, competitive edge, divine creativity and innovation, opportunity recognition, networks, institutional support and other factors that underpin entrepreneurship.
Originality/value
This study unpacks the thickly blurred link between Pentecostalism as a thriving religious orientation among the African-Caribbean ethnic group in the UK and their entrepreneurial engagements.