An often-overlooked aspect of entrepreneurship in American is its role in emerging domestic markets (EDM). These markets low-to-moderate income communities, ethnic- and women-owned businesses, urban areas are frequently ignored by mainstream markets. Yet with current demographic trends, they are an increasingly large component of the US population. Entrepreneurship can serve as a means to foster business development in these emerging communities and as a critically important way to improve the standard of living in low- and moderate-income (LMI) sectors.

Increasingly, policy makers,...