This paper considers what realist social theory can add to existing knowledge about black and minority ethnic entrepreneurs and outlines a methodology for exploring the role of the BME entrepreneur. For this group, embodied signifiers such as skills and abilities, cultural characteristics, social norms, and value systems combine with structural antecedents, such as financial, contractual, professional, and other national and regional institutional arrangements to create impediments on the progression of BME enterprises. Understanding such complex social arrangements presents significant ontological and (...) methodological challenges. We argue that previous research has failed to capture the richness of the forms of agency BME entrepreneurs display and that, as a consequence, RST has much to offer this debate. The paper ends with a discussion of the methodological implications of analysing BME entrepreneurs in terms of their social agency. (shrink)