This exploratory study examines formal and informal economy exploitation to better understand the disparity in the entrepreneurial founding rates between black and white entrepreneurs.  The conceptual discussion explores pre-theoretical relationships for various black entrepreneurship topic areas that might facilitate better research and understanding of black entrepreneurship.  The discussion draws on knowledge from the broader management, entrepreneurship, and sociology literature that is currently available on black entrepreneurship; and that highlight peculiarities on the subject in that literature. Certain factors are identified that may lead to the under representation of blacks in formal economy exploitation, while also leading to their overrepresentation in informal economy exploitation. Exploratory propositions based on the suggested relationships are presented for future research.  Also presented and discussed are research questions that remain unanswered in the literature on black entrepreneurship.  Finally, a research model for black entrepreneurship is also proposed and discussed.