Date Approved

8-25-2024

Graduate Degree Type

Project

Degree Name

Social Innovation (M.A.)

Degree Program

School of Community Leadership & Development

First Advisor

Michelle Wooddell

Academic Year

2024/2025

Abstract

This study explores the systemic issues that trap individuals in the cycle of poverty and examines how entrepreneurship can serve as a pathway to break this cycle, improve socioeconomic circumstances, and foster generational wealth. Guided by the research question, “What systemic issues trap individuals in the cycle of poverty, and how can they use entrepreneurship to improve their future and that of the next generation?”, the project aimed to uncover the underlying factors contributing to poverty and evaluate entrepreneurship's potential as a transformative solution.

Employing a mixed-methods approach, the study combined phenomenological analysis with the human-centered design problem-solving framework. Data was collected through interviews and surveys, providing both qualitative insights and quantitative patterns. The findings suggest that entrepreneurship holds promise as a feasible mechanism for individuals to escape poverty, offering opportunities to increase income, acquire new skills, and enhance employability. Additionally, entrepreneurial success was found to have the potential to create generational wealth, breaking the cycle of poverty for future generations.

This research highlights the critical role of systemic barriers in perpetuating poverty and underscores the need for targeted support systems to enable aspiring entrepreneurs from disadvantaged backgrounds to thrive. The findings contribute to ongoing conversations about poverty alleviation and entrepreneurship as a tool for social and economic empowerment.

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