Dissertations / Theses on the topic 'Small business'

Small business owners play a leading role in the United States economy by creating jobs and driving innovation. However, half of all new small business owners close their doors before their 5th anniversary. Following the entrepreneurship theory, the purpose of this multiple case study was to explore what strategies 5 small business owners in the food and beverage industry in the San Francisco Bay area used to survive beyond 5 years of operation. Data sources included semistructured interviews and company documents. Data analysis included descriptive and process coding of the data and use of NVivo to identify themes. Based on thematic analysis of the data, the emergent themes included: human capital, business goals, and growth through innovation. Participants relied on business knowledge to start and sustain their businesses; set incremental goals for growth and aligned business decisions to achieve those goals; and maintained a competitive advantage by implementing innovative and creative changes to their products and services. The implications for positive social change include the potential to provide small business owners and potential small business owners with strategies to sustain their businesses beyond the 5-year mark, thus contributing to economic growth of their businesses, their employees, and their local economy.

Small businesses provide 48% of private-sector jobs in the United States and play a vital role in the country's economic growth and development. Only half of U.S. small businesses survive for longer than 5 years. The purpose of this qualitative multiple-case study was to explore sustainability strategies managers of small oilfield service companies used to sustain their business for longer than 5 years. Data were collected from semistructured interviews with 10 managers--one manager from each of 10 different oilfield service companies located in the Rocky Mountain region of the United States and from review of publicly available documents and archived records. The conceptual framework for this study was the dynamic capability theory. Data analysis was conducted using Yin's 5-step data analysis process and methodological triangulation. Four themes emerged from the study: networking or relationship strategies, financial planning strategies, differentiation strategies, and education and experience strategies. The implications of this study for positive social change include the potential for small business managers to use these findings to develop strategies for profitability and sustainability resulting in job creation, poverty reduction, and socioeconomic development.

The small business sector in today‘s world is considered seriously by researchers, scholars, policy-makers and governments as an important answer in addressing problems of unemployment, poverty alleviation, and redistribution of wealth. Promoting and encouraging the development of the small business sector is without any doubt a key factor for economic growth. However, this sector faced a high rate of businesses failure due to the many challenges among them, for example, the lack of marketing strategy and implementation in the conduct of the business. Several researches show the important role of marketing in a business but unfortunately it is still not a strong component in many organisations especially within the small business sector.For this reason the aim of this study was to investigate the difficulties experienced by small business managers in marketing their businesses. Taking the aim of this study into consideration, the primary objectives were to firstly look at the practice of marketing in small businesses and secondly to identify the difficulties of marketing experienced by small business managers.The literature study provided a brief overview of the small business sector, followed by a presentation of the practice of marketing in an organisation especially within small business enterprises. Moreover a discussion of the difficulties experienced by small business managers in marketing their businesses was also addressed through the literature review. The literature classified those difficulties into two types; (a)internal factors (lack of marketing planning and strategy, cost of marketing, lack of marketing expertise, perception of marketing) and (b) external factors (lack of knowledge of the market environment).The empirical study was conducted to evaluate the practice of marketing in small businesses and to see what marketing difficulties were experienced by small business owners and/or managers. Data were collected by means of a survey, using a questionnaire. Respondents were identified using the snowball sampling technique through the database of the Nelson Mandela Bay Chamber of Commerce. The data gathered from 67 usable questionnaires were analysed and interpreted. The results of the empirical study revealed that the biggest problems experienced by small business managers in the sample were the heavy cost of marketing followed by the lack of marketing expertise and finally the lack of marketing segmentation strategy. This study contributes to the enhancement of the literature on small business marketing with a focus on the difficulties experienced by owners and/or managers in implementing marketing. As a result this study presents recommendations and suggestions to assist managers in marketing their businesses.

In 2012, only 50% of Irish small firms survived in business for more than 5 years. The purpose of this qualitative, explorative case study was to explore strategies some Irish small firm owners use to succeed in business beyond 5 years. The case population consisted of 3 small business owners operating in Lucan, County Dublin, Ireland who had been managing a profitable small business venture beyond 5 years from beginning operations. The conceptual framework was the competitive theory of entrepreneurial orientation. Data collection included semistructured interviews with the 3 participants, which also involved member checking and triangulation with business documents to strengthen credibility and trustworthiness of interpretations. Three broad themes emerged after completing a 5-stage qualitative data analysis: an embedded and consistent entrepreneurial attitude, internal management of firm-specific dynamics, and management of external elements affecting the business' operating environment. The firms' owners developed schemes to counter the effects of consumers' lower purchasing power from economic downturns by enabling customers to purchase products through flexible financing arrangements. The findings of this study may contribute to positive social change by informing the efforts of small business owners to sustain their operations beyond the first 5 years. Increasing the rate of business success can lead to employment of more people, better standards of living for employees, and concomitant benefits for their communities.

Thesis (Ph.D.)--Indiana University, Dept. of Economics and Dept. of Finance, 2007.
Source: Dissertation Abstracts International, Volume: 68-05, Section: A, page: 2094. Advisers: Eric L. Leeper; Gregory F. Udell. "Title from dissertation home page (viewed Jan. 24, 2008)."

Small and medium-sized enterprises (SMEs) are now recognised as being of major importance to the strategic agendas of many countries around the world since they can lower unemployment and increase economic growth. This is particularly significant for a small country like Oman which is seeking to diversify its production base. However, it is well known that lending institutions are often reluctant to offer loans to small firms because of the nature and size of such businesses. This research study, therefore, is the first to carry out a detailed investigation of the financing of small and medium-sized enterprises in Oman by focusing on the three main sectors in which SMEs function: manufacturing, trade and services. The study aims first to examine the procedures and problems faced by SMEs in obtaining finance by considering the need for finance, the types of finance available, and the difficulties that may be encountered in this process. Guidelines are then offered to encourage the participation of such firms in Oman's development. The study also seeks to examine the relationship between certain characteristics of firms and their owner-managers and the need for finance, together with difficulties encountered when seeking such finance. Finally, a comparison is made of the procedures and problems faced by SMEs in the three sectors. After a literature review, the thesis puts forward, in Chapter 4, the theoretical research framework and a number of hypotheses. Data were gathered via questionnaires and interviews from 397 small and medium enterprises in Oman; 94 from the manufacturing sector, 180 from the trade sector and 123 from service firms. These data were then analysed using the following methods: descriptive analysis, nonparametric testing, and analysis of variance (ANOVA). The findings showed that some significant differences did exist between firms, their owner-managers' characteristics and the need to acquire external finance, as well as the success or difficulties they faced in applying for such lending. The need for external finance for such companies to expand their businesses was also clearly demonstrated, especially in the trade and service sectors, the majority of respondents in all three sectors were aware of government sources of finance. It was found that the main reasons for difficulties in raising finance were high rates of interest, incomplete business plans, a lack of securities, and putting forward proposals considered not to be viable. A detailed analysis of the results can be seen in Chapter 6, with a summary of the main findings in Chapter 7. The study ends with an examination of the implications of the findings of this research for owner-managers, policy-makers, academics and entrepreneurs. Finally, suggestions are made for future useful research in this area.

Tato práce si klade za cíl vyhodnotit techniky získávání znalostí pro využití v prostředí malého podnikání. Po prozkoumání dat a konzultace s doménovymi experty byly vybrány dvě úlohy: analyza nákupního košíku a predikce prodejů. Pro analyzu nákupního košíku byl využit algoritmus Relim pro vyhledávání častych itemsetů a metriky určující zajímavost asociačních pravidel. Pro úlohu predikce prodejů byl implementován dekompoziční model, SARIMA, MARS a neuronové sítě s časovym oknem. Modely byly vyhodnoceny. Pomocí optimalizace hyper-parametrů bylo dosaženo přijatelnych vysledků. Oproti předpokladům nedošlo při dodání dat o počasí a využití nelineárních modelů ke zlepšení oproti SARIMA. Predikce byla implementována jako služba na straně serveru pro testování v produkčním prostředí.

The purpose of this project is to build a working intranet containing core applications that create the framework for a small business intranet. Small businesses may benefit from an intranet because of its ability to effectively streamline the processes for retrieving and distributing information. Intranets are internal networks using TCP/IP protocols, Web server software, and browser client software to share information created in HTML within an organization, and to access company databases.

Small businesses represent more than 99% of all employers in the United States, but more than 50% of small businesses have failed before 5 years. Climate change, digitization, and social media contribute to a paradigm shift in consumers' habits, as more consumers have become environmentally and social justice conscious. Business leaders who are unable to follow the consumers' trends and changes of habit may not succeed in sustaining their businesses. The purpose of this multiple case study was to explore strategies owners of small businesses in the District of Columbia use to sustain their businesses for longer than 5 years while fulfilling their firms' social responsibility obligations. The conceptual framework was the sustainability development theory. Data were collected from 5 small retailers through face-to-face, semistructured interviews, observations, field notes, and reviews of documents related to business sustainability. Data analysis was based on the thematic analysis model, which involved a process of organizing, coding, arranging data into common themes relevant to the research question and interpreting of the information. Member checking was used to enhance the credibility and validity of the data. Emerging themes included business establishment planning, sustainability planning, and sustainability factors use. The results of this study may contribute to positive social change by providing information to entrepreneurs about successful strategies for small business sustainability, which can lead to business owners, employees, and communities living and working in a human-oriented, prosperous, and healthy environment.

The absence of adequate crisis management strategies in small firms could result in a premature small business closure. A qualitative multiple-case study was used to explore the crisis management strategies that 3 small business owners have used to survive an unexpected operational interruption. The small business owners in this study were from different industries in the southeast region of the United States and each owner owned a business for more than 5 years and had survived at least a single crisis. The theory of crisis management and crisis intervention theory were the conceptual frameworks for this study. Data collection occurred through semistructured face-to-face interviews with small business owners; observations; and a review of company documents comprised of business plans, insurance policies, floor plans, and emergency exit routes. Data were thematically analyzed and then triangulated to ensure trustworthiness of interpretations. The findings included 3 emergent themes: the importance of developing survival strategies; transparency, open communication, and relationship building; and creative thinking as a survival strategy. Recommendations for action include securing adequate insurance coverage, investing in a worker's compensation policy, and maintaining transparent and fluent communications with vendors and consumers. Small business owners who implement survival strategies may contribute to positive social change by continuing to create employment opportunities that improve economic conditions in local communities.

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Research on business growth has blossomed, yet scholars often complain face the difficulty of distililing a clearer pitcure of the business growth phenomenon. This paper attempts to overcome this limitation by reviewing and synthesizing extant research on business growth. First, we begin by examining Penrose’s view of firm growth. Second, we highlight how business growth is measured; these are absolute or relative change and growth as a process. Third, we explore theories of business growth; integrated models-theories that explain the factors that drive business growth and (2) stage models which view business growth as a series of phases or stages of development through which a firm must pass in its life-cycle. Fourth, we examine modes of business growth; these are organic vs. acquisition growth, growth through networks and alliances and growth through internationalization. Fifth, we examine drivers and constraints to business growth. We conclude the review by pointing out areas of harmony and contention in the literature, from which we suggest opportunities for future research.

This study examined the extent to which small businesses, with an international focus, are employing formaI business planning techniques and the extent to which such techniques contribute to the success of these businesses. The study was based on the hypothesis that small business success is associated with formal business planning. Indicators of both formal business planning, the independent variable, and small business success, the dependent variable, were developed. Survey research was conducted to generate and analyze data gathered from one hundred business owners/operators of small businesses, with an international focus, located within the Atlanta Metropolitan Statistical Area (MSA). A five-page questionnaire was developed and a survey analysis grid was designed. The researcher found that those businesses practicing formal business planning techniques were more successful than those not employing them. The conclusions drawn from these findings suggest that formal business planning contributes to the success of small businesses with an international focus.

Strategic use of IT among SMEs has gained much attention recently as both reseachers and practitioners view this as one of the avenues for smaller firms to compete successfully. However, very little empirical work has been done to understand the issue. This study helps to fill this gap in the important research area by exploring the alignment of business strategy and IT strategy among UK man facturing firms with less than 150 employees. A mail survey of Chief Executive Officers generated 256 responses to an eight page questionnaire. Factor analysis of the nine business strategy and the nine IT strategy variables yielded three business strategy factors and three IT strategy factors which could be sensibly identified with strategy areas and which clearly showed a fit between the two sets. Based on these two set offactors, the measurement of IS alignment was explored using two methods: (1) the 'moderation' or interaction approach, and (2) the 'matching' or difference approach. The finding of this study provides support for past observation that the `moderation' approach of measuring fit' is more meaningful when the performance criterion is included in the research model. By using a multistep cluster analysis, two distinct groups of SMEs are identified based on the alignment between quality-oriented, product-oriented, and market-oriented business strategy and IT strategy which support these strategies. The group of SiviEs which has a high degree of alignment for the three strategy areas are found to achieve better organisational performance than the group of SÄLIEs with a low degree of IS alignment. Interestingly, the findings of this study also indicate that the degree of alignment between business strategy and IT strategy is related to the level of IT sophistication and the level of CEO's commitment to IT. In summary, this study has extended our understanding of IS alignment and has provided useful insights for CEOs of small and medium-sized companies in planning their IT utilisation.

Small businesses are considered the backbone of the U.S. economy with significant contributions in the areas of job creation and economic development. However, 79% of small businesses fail within the first 5 years. This multiple case study aimed to explore strategies and knowledge of resources that owners of small businesses used to sustain business operations for longer than the first 5 years. The population included 5 minority owners of small businesses in Texas. Chaos theory formed the conceptual framework. The data collection process included semistructured interviews, member checks, field notes, company artifacts, and archival documents. Data were analyzed using Yin's data analysis steps of compiling, disassembling, reassembling, interpreting, and concluding. Three themes emerged from the analysis: effective management of the business environment, effective planning, and business owners' skills and knowledge. The U.S. Small Business Administration, local chambers of commerce, and owners of small businesses may benefit from the findings of this study by gaining an understanding of successful minority owners of small businesses' implemented strategies that enable business success and profitability. The implications of this study for positive social change include identifying sustainable strategies minority owners of small businesses can use to advance business growth, increase financial security, achieve employee job sustainability, and potentially stimulate the local community with job creation.

The study of the Clackamas Small Business Development Center's Small Business Management Programs (SBM) had three research objectives: to ascertain what information should be transferred to small business owners and how best to transfer that information; to ascertain what information is presently being transferred to clients and what methods are used in transferring the information; and to survey clients in order to develop a current demographic profile, measure their level of satisfaction with the assistance received, and ascertain what they perceived were the benefits of the program to their companies. Prior to the study, there had been little systematic research of what information should be transferred to SBDC clients and the most effective methods for transferring that information. The small business growth stage literature was used to develop the recommended body of information. The adult learning literature was used to develop the recommended methods for transferring that information to clients. The majority of respondents were women, well educated, middle-aged, and from companies in service related industries that employed few workers. The findings suggest that clients desire an increase in both the appropriateness of the program's informational content and the level of their involvement in tailoring the SBM program to the needs of their organizations. As suggested by the Small Business Growth Stage Models, a statistically significant decline in client satisfaction of the program's informational content was found to exist between stage two and stage three business owners. The study found that instructors did not utilize specific business factors (such as sales levels, numbers of employees, etc.) in developing the informational content of the SBM programs. Instructors also did not utilize client preferred learning styles, or formal client involvement in developing the instructional design of the SBM program. The study found that clients and center personnel appear to differ in their perceptions regarding the role of the instructor and the purpose of the SBM program. Clients appear to envision the role of the instructor as more of a consultant, while instructors view their role as preparing clients to solve their own problems.

Individuals in the millennial generation, born from 1980 to 1996, have many entrepreneurial opportunities; however, many people in the millennial generation lack the skills, motivation, and business strategies to survive in business. Because of the influx of competition, lack of experience, and lack of business-world strategies, entrepreneurs can miss opportunities and fail within the first few years of business operations. Grounded in the systems theory, the purpose of this multiple case study was to explore the strategies that business owners in the millennial generation used to survive in business longer than 6 years. Participants consisted of 5 business owners in the millennial generation in 5 businesses in northern Virginia with successful experience in implementing strategies to survive in business longer than 6 years. Data were collected through semistructured interviews and a review of relevant company documents. Data were analyzed using Yin's 5-step process of compiling, disassembling, reassembling, interpreting, and concluding data. The 4 key themes derived from data analysis were marketing, support, lessons learned, and passion. The findings of this study might be beneficial to business owners who seek to survive in business longer than 6 years by demonstrating the need for using effective marketing strategies, recognizing the need for adequate support, learning from past mistakes, and having passion for operating the business. The implications of this study for positive social change include the potential for business owners to improve local job opportunities, increase the economic prosperity of their communities, and increase local community services through their contribution to the local tax base.

Small businesses owned by women cease operations 11% more often than businesses owned by men. Women, who own over 37% of all businesses in the United States, contribute significantly to the 50% small business failure rate. The purpose of this multiple-case study was to explore strategies 5 women who own small businesses use to succeed in business beyond 5 years on Bainbridge Island, Washington. The theory of constraints was the conceptual framework. Data were collected through semistructured face-to-face interviews, websites, company documents, and archival records. Transcript review of interview response data was used to strengthen the credibility of the interview data. Three themes emerged: customer and employee relations, leadership, and strategic management. Customer and employee relations were the most important theme, and strategic management was the second most important. Strategic management was one of the main sources of growth in all the 5 participant's businesses. Participants discussed skills in managerial decisions and strategies to manage the day-to-day business operations that played an active role in entrepreneurship. Female small business owners identified strategies used to eliminate constraints that may have prohibited the business operation to succeed. The findings may inspire entrepreneurs to enhance their leadership skills, increase capacity to expand their small businesses, start new businesses, and explore entrepreneurial options. Social implications include the potential to serve as a guide that encourages female entrepreneurs to enhance their professional practices and to adopt new business strategies to make better strategic decisions.

Over the past 15 years, privately held small businesses generated nearly two-thirds of the net job growth in the United States, yet much of what scholars know regarding the capitalization challenges faced by small businesses is limited to data from large corporations. In 2013 alone, business bankruptcies numbered 33,212, and each year approximately 10% to 12% of U.S. small businesses close. Ineffective capitalization strategies coupled with a limited understanding of funding options frequently results in unsustainable business practices. In this multiple case study, the capital budgeting theory was utilized to explore the capitalization strategies small business owners in the greater Phoenix, Arizona metropolitan area employed to achieve sustainability beyond 5 years of business inception. Participants were purposefully selected based on their tenure in business, number of employees, and geographic location. Data were collected via in-person semistructured interviews with 4 small business owners, coupled with a review of financial archival documents. Data were analyzed using theme interpretation, data grouping, and word frequency tabulation. Three themes emerged: a preference for self-funded, personal capitalization; the leveraging of personal relationships as a primary educational strategy; and a general aversion to debt and high interest rates. Implementing sound capitalization strategies contributes to social change by improving the likelihood of long-term sustainability. Sustainable small businesses increase employment opportunities, wage growth, and community-based services while enhancing the overall quality of life for local families and the community.

In the United States, 20% of newly established small businesses, including small businesses in the life insurance industry, fail within 2 years, and over 50% of them fail during the first 5 years. The purpose of this multiple case study was to identify and explore the strategies that life insurance brokerage owners use to sustain business operations beyond 5 years. Porter’s 5 forces model served as the conceptual framework for exploring this subject matter. Owners of 3 separate small life insurance brokerage firms in Texas, who sustained their businesses beyond 5 years, participated in semistructured interviews. A secondary source of data was relevant company documents. Methodological triangulation and member checking assured the reliability and validity of the interpretations. Through thematic analysis and supporting software, 5 themes emerged: exceptional customer service, relationship-building, efficient promotional strategies, regular training of salespersons, and hiring the right employees. The application of the findings of the study could contribute to positive social change by reducing unemployment and thereby catalyzing an economic environment supporting employees, families, and communities.

Small business owners represent 99.7% of all U.S. employer firms, employ half of the private sector employees, and provide 43% of the total U.S. private payroll. However, 50% of new small business startups fail within the first 5 years of operation. The purpose for this multiple case study was to explore what skills, knowledge, and strategies small business coffee shop owners use to succeed in business beyond 5 years. Systems theory, chaos theory, and complexity theory provided the conceptual framework for exploring the research question of this multiple case study. To identify and explore the factors for maintaining small business' operations, the population for this study was 3 small business owners of 3 coffee shops in Duval County, Florida who sustained their businesses for a minimum of 5 years. The data sources were semistructured interviews, the business' websites, social media information, and site visit observations. Based on methodological triangulation of the data sources, analytical coding, and analyzing the data using mind mapping and software, 3 themes emerged: owner networking and the business as a customer to customer networking venue, business plans' initial challenges and addressing subsequent changes, and a need for marketing differentiation. Potential implications for effecting positive social change include increasing the rate of small business success, and increasing the financial security for owners, employeees, employees' families, and their communities.

Small business owners face challenges associated with leading change, and many times lack the necessary resources to manage it properly. The purpose of this descriptive qualitative study was to determine what challenges leaders of small businesses face in managing change, what strategies and practices those leaders employ, and how the leaders of small businesses measure success in managing change. This study also determined what advice leaders of small businesses would suggest for managing change. Four research questions were created to assist with this process, and 13 semi-structured interviews were conducted in various cities throughout the state of Michigan. The participants were small business owners of privately held American companies that had been in business for a minimum of 5 years. Twelve interview questions were asked to answer the 4 research questions. Many themes emerged. Some of the challenges that participants face while managing change are resistance to change, communication issues, lack of confidence, lack of resources, lack of knowledge/experience, absence of strategy, conflicts of interest, and lack of emotional intelligence. The participants shared many different strategies for successful management of change and also offered their lessons learned over the years. The main overall theme presented by all of the participants in this study was the importance of knowledge and experience for management of change in small businesses.

The central question addressed was what motivates small business leaders to incorporate social responsibility in their companies' mission, vision, and culture. In particular, there is a knowledge gap about what motivates small business leaders to take both financial and non-financial actions to support their employees, their local economies, and their communities. Interviews with three small business owners in Michigan were coded to identify key emergent themes explaining why small business leaders contributed to their local communities. Theoretical or conceptual support for the study included Carroll's social performance model, Vroom's expectancy theory, and CCI strategies. The literature review included that of motivation and social responsibility. The interviews were coded, analyzed, and six themes emerged. The participants were concerned with being socially responsible and motivation comes from defining social responsibility and finding ways to fulfill a need. Employees play a key role in creating and continuing an environment set by the example of the owner and this is done through repetition, thus aligning business practices with being socially responsible. Lastly, connection to people helps build relationships, while being cognizant of initiatives to protect the environment, thus Going Green initiatives. After the research, the researcher developed the Small Business Community Involvement model (SBCI), based on the themes. This model can help small business leaders looking to partake in socially responsible activities. This study is significant because it will improve understanding of social responsibility in the small business sector.

Small businesses represent 99.7% of all employers in the United States and account for 63% of new jobs; however, 50% of small businesses fail within 5 years of operation. The purpose of this multiple case study was to explore strategies that some small restaurant owners used to succeed in business for longer than 5 years. The sample population for the study was the owners of 3 small restaurants in the northeastern region of the United States who have a minimum of 5 years’ experience in operating a successful business. Chaos theory provided the conceptual framework for the study. Data collection methods were semistructured interviews and review of company documents and archival records. Member checking of interview transcripts was used to strengthen the credibility, reliability, and trustworthiness of the findings. Based on the methodological triangulation of the data sources and using the van Kaam process, themes emerged. The principal themes that emerged were networking, customer satisfaction, and leadership. The findings from this study may contribute to positive social change by providing strategies that small business owners need to be successful and possibly improve the prosperity of the community and local economy.

The United States has a high failure rate of small businesses, with 30% of small business failing within the first 2 years. The objective of this case study was to explore strategies successful small business owners use to achieve profitability beyond 5 years. The purposive sample for this study included 4 owners of successful small businesses in Atlanta, Georgia, who have been in business for at least 5 years. The conceptual framework was built upon disruptive innovation and susceptibility theory. Data were collected through semistructured interviews and company documents. The analysis revealed 3 themes, market research, passion and determination, and innovation. Successful small business leaders use market research to understand the business environment and customers' needs. Entrepreneurs should conduct market research to develop strategies to remain successful. Innovation is essential for business success and successful entrepreneurs innovate to adapt to new business trends. Small business owners who innovate remain competitive and profitable. Business leaders will benefit from this study's findings by gaining insight into how the leaders of successful organizations implement strategies to stay profitable and competitive. Small business leaders may use the findings to enable economic development in various communities, and create valuable jobs for local residents. Social implications include the improved local and state economy and the standard of living in communities. Small business owners will be able to sustain their businesses and contribute to the prosperity of their employees, their families, health of the community, and the local economy.

Over the past 15 years, privately held small businesses generated nearly two-thirds of the net job growth in the United States, yet much of what scholars know regarding the capitalization challenges faced by small businesses is limited to data from large corporations. In 2013 alone, business bankruptcies numbered 33,212, and each year approximately 10% to 12% of U.S. small businesses close. Ineffective capitalization strategies coupled with a limited understanding of funding options frequently results in unsustainable business practices. In this multiple case study, the capital budgeting theory was utilized to explore the capitalization strategies small business owners in the greater Phoenix, Arizona metropolitan area employed to achieve sustainability beyond 5 years of business inception. Participants were purposefully selected based on their tenure in business, number of employees, and geographic location. Data were collected via in-person semistructured interviews with 4 small business owners, coupled with a review of financial archival documents. Data were analyzed using theme interpretation, data grouping, and word frequency tabulation. Three themes emerged: a preference for self-funded, personal capitalization; the leveraging of personal relationships as a primary educational strategy; and a general aversion to debt and high interest rates. Implementing sound capitalization strategies contributes to social change by improving the likelihood of long-term sustainability. Sustainable small businesses increase employment opportunities, wage growth, and community-based services while enhancing the overall quality of life for local families and the community.

The restaurant industry is the second largest employer in the United States; however, only 33% of restaurant owners sustain profits longer than the first 5 years from inception. The purpose of this multiple case study was to explore marketing strategies that owners of small business restaurants use to sustain profitability for longer than the initial 5 years. Aaker's brand equity model was the conceptual framework used to ground this study. Purposeful criterion sampling was used for the study. Participants included 3 owners of small restaurants operating in the southern United States. Data analysis involved using Yin's 5-step data analysis process to identify and code themes. Analysis included data compilation, data disassembly, data reassembly, data interpretation, and data conclusion. Three themes emerged from the analysis of data: social media, word of mouth, and brand differentiation. The implications of this study for positive social change include business development opportunities, opening resource centers for training programs, and free webinars associated with marketing and brand equity strategies. Communities, organizations, and new entrepreneurs may benefit from the increase of social resources, community economic growth, and expanded employment opportunities.

Small businesses represent 99.7% of all employers in the United States and account for 63% of new jobs; however, 50% of small businesses fail within 5 years of operation. The purpose of this multiple case study was to explore strategies that some small restaurant owners used to succeed in business for longer than 5 years. The sample population for the study was the owners of 3 small restaurants in the northeastern region of the United States who have a minimum of 5 years' experience in operating a successful business. Chaos theory provided the conceptual framework for the study. Data collection methods were semistructured interviews and review of company documents and archival records. Member checking of interview transcripts was used to strengthen the credibility, reliability, and trustworthiness of the findings. Based on the methodological triangulation of the data sources and using the van Kaam process, themes emerged. The principal themes that emerged were networking, customer satisfaction, and leadership. The findings from this study may contribute to positive social change by providing strategies that small business owners need to be successful and possibly improve the prosperity of the community and local economy.

In the United States, 20% of newly established small businesses, including small businesses in the life insurance industry, fail within 2 years, and over 50% of them fail during the first 5 years. The purpose of this multiple case study was to identify and explore the strategies that life insurance brokerage owners use to sustain business operations beyond 5 years. Porter's 5 forces model served as the conceptual framework for exploring this subject matter. Owners of 3 separate small life insurance brokerage firms in Texas, who sustained their businesses beyond 5 years, participated in semistructured interviews. A secondary source of data was relevant company documents. Methodological triangulation and member checking assured the reliability and validity of the interpretations. Through thematic analysis and supporting software, 5 themes emerged: exceptional customer service, relationship-building, efficient promotional strategies, regular training of salespersons, and hiring the right employees. The application of the findings of the study could contribute to positive social change by reducing unemployment and thereby catalyzing an economic environment supporting employees, families, and communities.

Small business plays a significant part in the economy of all nations because of its revenue contribution and as a generator of employment. In the Australian context, small businesses account for 85% of all businesses, employ 40% of the total workforce and contribute $75 billion annually to Industry Gross Product. All of these numerical indicators highlight the financial importance of small business, which is also how small business success has traditionally been measured. These traditional success measures have been by increases in financial performance criteria, such as return on investment, turnover or profit, or by increases in number of staff.

The development and sustainability of small businesses impact the U.S. economy. Owners of small businesses created 65.9% of new jobs between 2000 and 2017. Over 99.9% of known U.S. firms were small businesses. The purpose of this multiple case study was to explore the leadership strategies small fitness business owners implemented to sustain their businesses for longer than 5 years. The conceptual framework for this study was the servant leadership theory. The population for the study included 5 owners of small fitness businesses in the southeastern region of the U.S. who used leadership strategies to sustain their businesses for longer than 5 years. Data were collected using semistructured interviews and analysis of data from their business performance plans and financial statements. Data were analyzed using Yin's 5-step process. A transcription and coding software, methodological triangulation, and member checking were used during data analysis. Good business practices, leader characteristics, and leader relationships were the themes identified during data analysis. Company reputation, customer-service management, financial management, and marketing were minor themes of effective business practices, while adaptable, motivated, and work ethic were minor themes of leader characteristics and family-like and industry networks were minor themes of leader relationships. The implications of this study for positive social change relate to improving the economy, health, and overall well-being of community members through sustained small fitness business owners who provide jobs and access to preventive healthcare options.

Small businesses are significant contributors to a nation’s job creation and employment. These enterprises face many challenges that often lead to failure within 5 years. Some small business owners fail because they lack the necessary strategies for maintaining a sustainable business operation. The purpose of this qualitative descriptive phenomenological study was to analyze how to overcome the high failure rate of small businesses in Accra, Ghana. The conceptual framework for this study was institutional and planned behavior theories. The research questions sought participant’s experiences with small business survival that may have led to sustainable businesses. Data were collected from 20 participants using semistructured telephone interviews in Accra, Ghana. Participants were small business owners in the consumer products industry. Eligibility required full-time self-employed persons aged 26-65 years who must have been in business beyond 5 years. Thematic analysis was used to analyze data. After data analysis, member checking was used to establish the trustworthiness of the outcomes. The main result of the study was that small businesses that had identified viable business opportunities in sustaining the needs and challenges of potential customers reported gains in sales and customer retention. The findings were significant for improving sustainable small business efforts, improving self-employment, reducing poverty through inclusive business models, and creating positive social change. Small business owners and policymakers might benefit from this research by reducing redundancies in their operations. This effort should promote an environment that enhances wealth creation and the quality of life of small business owners in Accra, Ghana.

Thesis (MBA)--Stellenbosch University, 2007.
ENGLISH ABSTRACT: There is a growing need for a framework that explains the important steps in creating and managing a small business in a very simplistic, flexible and holistic way. The aim of this research report is to design a framework which will guide the entrepreneur and small business owner in the set-up and management of a small business. The research report explores the logic of constructing the framework. It starts with the core business transactions which justify the existence of the business. For a better understanding of the interactions in the transactions, a system approach is followed. Dynamic complexities focus on causality and feedback to describe how entities influence each other. A growth loop is established with a balancing loop. On the basis of these interactions the framework is constructed with the product and the market on opposite sides. From the product there are growing actions in the form of marketing. From the market a condition is created which is measured in financial terms. These interactions are the core of the framework. A second level is added with strategic intent and external analysis to indicate direction and to measure the market's response. The research report continues to describe the development of a small business in terms of the three layers of the framework: transaction, basic business level and extended business level. The transaction indicates the core and the reason for the business's existence. It is a description of the value exchange process. The basic business level is the platform in which the business is operating. The extended business level is how the platform is used. For each of the entities indicated on the framework an existing business model is used to explain the area. The framework is, therefore, not presenting a new model, but only a new way of how existing business models are related to each other. The framework can be used in various ways. First it can be used to establish a startup business by building it step by step from the inner layer to the outer layer. Secondly it can be used to evaluate an existing business. Each part of the business can be evaluated and determine whether the necessary structures are in place. Thirdly it can be used for a turn-around on a struggling business. To do it means first . to evaluate the business and then use the framework to build the business structure. To assist in this process of evaluation and building a business structure, a set of worksheets are presented in the study to help an entrepreneur to think through every important step of the business. To test the above assumption that the framework can support the construction of a business structure, a small business was selected and evaluated. The evaluation was done in the format of an interview with the owners and the structure of the framework was followed. The study is concluded with recommendations on areas that need further research. The worksheet I guideline recommendation is that the worksheets and guidelines be developed with a specific aim in mind, for example design a new business or evaluate an existing business. The application recommendation is to explore the use of a rating system to do a quick evaluation of the business based on the entrepreneur's "gut feeling". The structural recommendations are first to explore strategic mapping to summarise the results of the design or evaluation into an existing model. The second recommendation is to investigate the development of the different entities in the framework in line with the business life cycle and thereby adding a depth dimension to the framework.
AFRIKAANSE OPSOMMING: Daar is 'n groeiende behoefte na 'n raamwerk wat die belangrike stappe om 'n klein besigheid te skep en te bestuur, in 'n baie simplistiese, buigsame en holistiese manier verduidelik. Die doel van die navorsingsverslag is om 'n raamwerk te ontwerp wat die entrepreneur sal lei in die opstel en bestuur van sy besigheid. Die navorsingsverslag gee aandag aan die logika hoe die raamwerk saamgestel word. Die raamwerk bestaan uit die kern besigheidstransaksie wat die bestaan van die besigheid regverdig. Om die interaksies in die transaksie beter te verstaan, word 'n stelselbenadering gebruik. Dinamiese kompleksiteite fokus op oorsake en die terugvoer hoe verskillende entiteite mekaar beinvloed. 'n Groeiende sirkelaksie en 'n uitbalanserende sirkelaksie word gevolg. Op grond van hierdie interaksies is die raamwerk geskep met die produk en die mark aan teenoorgestelde kante. Van die produk is daar 'n groeiende aksie na die mark in terme van bemarking. Van die mark is daar 'n terugvoeraksie na die produk in terme van finansiele maatstawwe. Hierdie inleraksies vorm die kern van die raamwerk. 'n Tweede vlak word bygevoeg in die vorm van strategies voorneme en eksterne analise om rigting aan te toon en die mark terugvoer te meet. Die navorsingsverslag gaan voort om die ontwikkeling van 'n klein besigheid te beskryf in terme van die drie vlakke: transaksie, kern besigheidvlak en uitgebreide besigheidvlak. Die transaksie toon die kern en die rede vir die besigheid se bestaan aan. Dit is die beskrywing van die waarde uitruilingsproses. Die kern besigheidsvlak is die platform waarop die besigheid funksioneer. Die uilgebreide besigheidsvlak is die manier hoe die besigheid die platform gebruik. Vir elk van die entileite wat in die raamwerk aangetoon word, word 'n bestaande besigheidsmodel gebruik om die detail te verduidelik. Die raamwerk moet daarom nie gesien word as 'n nuwe model nie, maar net as 'n manier hoe bestaande besigheidsmodelle in verhouding tot mekaar staan. Die raamwerk kan in verskeie maniere gebruik word. Eerstens kan dit gebruik word om 'n aanvangsbesigheid stap-vir-stap volgens die verskillende vlakke in die raamwerk te bou. Tweedens kan dit gebruik word om 'n beslaande besigheid te evalueer. Elke deel van die besigheid kan beoordeel word en so bepaal of die nodige strukture in plek is. Derdens kan dit gebruik word om 'n omkeer op 'n sukkelende besigheid te doen. Om dit te doen sal beteken om eerstens 'n evaluasie te doen op grond van die raamwerk en dan die nodige strukture te bou of herbou. Om die proses van bou en herbou te ondersteun stel die studie werksblaaie voor wat gebruik kan word. Die doel hiervan is om die entrepreneur se denke deur die belangrlkste stappe te lei. Om die bogenoemde aanvaarding te toets dat die raamwerk gebruik kan word om die bou van 'n besigheidstruktuur te ondersteun, was 'n klein besigheid geselekteer en ge-evalueer. Die evaluasie was gedoen in die vorm van 'n onderhoud met die eienaars en die struktuur van die raamwerk was gebruik. Die navorsingsverslag word afgesluit met aanbevelings oor areas wat verdere ondersoek nodig het. Die werksblaaie en riglyne aanbeveling is dat die werksblaaie en riglyne vir 'n spesifieke doel ontwerp word, byvoorbeeld die ontwerp van 'n nuwe winkel of die evaluasie van 'n bestaande winkel. Die aanwendingsaanbeveling is om 'n evalueeringstelsel te ontwikkel waar 'n evaluasie gegrond op 'n entrepreneur se aanvoeling kan plaasvind. Die struktuuraanbevelings is om eerstens strategiese kaartering te ondersoek om die resultate van die ontwerp of evaluasie in 'n bestaande model op te som. Die tweede aanbeveling is om die ontwikkeling van die verskikkelende entiteite van die raamwerk in Iyn met die besigheidslewensiklus te ondersoek en sodoende 'n diepte dimensie by die raamwerk te voeg.

The study was based on the evaluation of specific business–related factors concerning small businesses in the formal sector. The purpose of this study was to gain a clear understanding of the current education level of employees in the small business industry. Income and business related costs applicable to small businesses and formal business support was also evaluated in terms of its availability to small businesses. By means of investigation it was possible to conclude to what extent small businesses contribute towards economic growth in South Africa. The South African government is definitely aware of the important role which small businesses play in economic growth and poverty reduction. Small businesses were analysed to determine the education level of both employees and business owners. The contribution which business owners made to training and development of their employees was also investigated. The income over a period of five years were analysed to determine the financial sustainability of the businesses. The impact of business related costs and the global economic recession were also investigated to determine the future sustainability of small businesses. The empirical research was conducted at a financial institution in Klerksdorp to assess the contribution which small businesses made towards economic growth and development. Small businesses' contribution towards education and training must be reconsidered as limited opportunities exist within small business for training. Small business owners cannot afford to send their employees away to obtain training and mainly make use of on–the–job training. SETAS must focus more on small businesses when it comes to training and alternative training methods must be reconsidered. The implementation of complex labour legislation and the minimum wages law make unskilled labour very expensive for small business owners. This must be reconsidered as small businesses cannot afford to employ additional employees. Formal business support available to small business owners were perceived not to be marketed very well although the lack of internet access may contribute to the limited knowledge in this regard. The South African government must reconsider its strategy to utilize small businesses to create jobs and to develop skills.
Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

As the baby boom generation approaches and enters traditional retirement ages, the owners of small professional service firms are being inundated with advice concerning how to implement a business succession plan. While much of the advice may be valuable and sound, a significant portion of this advice appears to be derived from a one-size-fits-all approach that ignores, or fails to address, the needs, desires, and personal characteristics of the business owner. Small business succession planning advice often involves growing the business into a self-perpetuating organism. However, many small business owners may not want to do what is necessary to manage a business for optimum succession planning. The researcher used a quantitative research methodology to identify antecedents to business succession planning in small, relationship-dependent service businesses. The research combines concepts from the Theory of Planned Behavior and from the family business succession planning literature to identify potential owner characteristic and situational antecedents to business succession planning. The study focused on a sample population of owners of small financial-services businesses affiliated with one broker-dealer. Most of the sample population offers tax and accounting services in addition to their financial services. The population is in the business of planning for their customers but to a large extent neglect or choose not to plan for their own ultimate exit from the business. While business owners face many choices and obstacles in preparing their firms for their eventual exit, this study indicates that the decision to pursue business succession planning by the owners of small, relationship-dependent service businesses is overwhelmingly driven by the business owners’ perception of the availability of a qualified successor. Thus the decision to pursue business succession planning by this sample population is more likely to be a reaction to circumstances than a proactive choice driving the owners’ business decisions.

In Malaysia, approximately 90% of the businesses are categorized as small businesses. Although the majority of the small businesses are family owned, they make a significant contribution to the nation’s gross domestic product. Therefore, the prevalence of small family businesses has a potential economic and social impact that is realised in terms of reducing unemployment rates and growing the family income.The objective in this study was to explore and analyse decisions made about business growth in various types of Malay small family businesses in Selangor, Malaysia. The researcher investigated decisions made in both business and family realms. The importance of the study was in adding to the existing knowledge on decision-making about business growth in small family businesses; specifically, the Malay small family business. Furthermore, the results have been used to construct an original research outcomes model (ROM) that provides a unique contribution to the policy and practice of small family business development. Similarly, the ROM can be used to continue research into small family businesses.A qualitative methodology using a case study approach was a valuable strategy allowing the researcher to obtain in-depth information about decisions for business growth. The participation of seven small family business owners and selected family members by means of face-to-face interview techniques allowed for the collection of insightful data of family and business activities; the first-hand data enhanced the originality of the result. Interview data were transcribed and a thematic analysis technique applied to acquire research patterns; firstly, using within-case analysis and, secondly, cross-case analysis. Research results supported much of the extant literature that identified the owner of small family business as the key person in decision-making. The findings extended current knowledge by demonstrating how actual decisions are made implemented in small family businesses. Use of family discussion was identified as a main advantage as a precursor to authoritative decision-making by the owner.Finally, in identifying factors which underlie the decision-making in order to maximise business growth, the results of the study have provided benefits for small business researchers, policy makers, small business advisors, small family business owners and family members involved in the business.

Considerably much has been written about the relationship between planning and performance in small firms and yet there is disjointedness and little agreement on the findings. Such a scenario calls for more research in the domain. This study explores the relationship between formal strategic planning and performance in the small business sector of a developing economy. Drawing on the contingency theory of management, the study, inter alia, identifies knowledge gaps within the traditional contingency theory as well as in prior literature, and in addressing such gaps, insightfully contributes to the body of knowledge in this field of study. A mixed methods approach was adopted for rigour in responding to the research questions and hypotheses. The study embraced questionnaire and interview routes with samples of 392 and 24 owner-managers of SMEs in Harare, Zimbabwe respectively. For a more comprehensive analysis of the planning performance relationship, a longitudinal approach was adopted covering three periods. Correlation analysis is employed in establishing the nature of the relationships. Findings established reveal that there is no statistically significant relationship between formal strategic planning and performance in the small business sector within the context of an unstable and hostile environment. Further, an interesting revelation is unearthed where the performance of formal strategic planners is not significantly different from that of non-planners. The study sheds new light on the interplay between the contingency approach and the relationship between formal strategic planning and performance in a developing, yet unstable economy.

Many small businesses fail to survive past 5 years, listing the primary reason given for failure as inadequate business planning strategies. The construction industry provides the building and upkeep of physical infrastructure (buildings and roadways) in developed societies and is a major contributor to the gross domestic product for many nations. In the United States, the construction trades primarily consist of small businesses, with a smaller portion of the sector classified as women-owned. The purpose of this qualitative multiple case study was to explore the business planning strategies that successful women-owned small business (WOSB) construction leaders in New Jersey use for sustainability and growth. Contingency theory and expectancy theory of motivation served as the conceptual framework for this study. The sample was comprised of 3 women small business owners in the construction trade in New Jersey. Data collection included semistructured face-to-face interviews, a review of organization documents, business website review, and field notes. Member checking strengthened creditability and trustworthiness. Based on Rowley's 3-step data analysis plan and a thematic analysis of the data, 5 themes emerged: constant review of goals and plans, communication and teamwork, reliance on expertise, networking, and continuous education. The findings in this study may contribute to social change by providing knowledge for sustainability and growth of women owned businesses (WOBs). By putting the findings to practical use, WOBs could sustain beyond 5 years, which would positively influence society by enhancing the local economy, promoting job development and fostering positive community relations.

Small businesses are critical to economic development. Small businesses create job opportunities and training and innovative products and services, but they encounter significant challenges and many fail in the first 7 years due to lack of sustainable strategies. The purpose of this single case study was to explore strategies owners used to sustain small energy consulting businesses for longer than 7 years. The population in this study consisted of 5 senior executives of a small energy consulting firm in the Washington, DC, metropolitan area. The conceptual framework for the study was the transformational leadership theory that deals with vision and empowerment aimed at increasing both employee effectiveness and well-€being to positively aid employee outcomes, commitment, role clarity, and prosperity. Data were collected through face-to-face semistructured interviews and a review of company documents. After data analysis using thematic analysis and methodological triangulation, 7 themes emerged: functional vision, planning, skilled human resources, match approach to strategy, create market share, good leadership, and staying in tune with innovation. Implications of this study for social change include the potential for small energy consulting businesses to improve in the quality of life in the local environment by playing a vital role in the culture and economy of the community. Implementing the strategies may result in improving a firm's profitability and sustainability and contributing to social change for the local communities by reducing unemployment, offering competitive compensation, providing improved working conditions, and improving work-€life practices.

In Nigeria, many small businesses fail before their 5th anniversary. Small businesses make up a major percentage of the businesses in Nigeria and provide jobs for 50% of the populace. The purpose of this qualitative multi-unit case study was to explore the factors required by small businesses in Nigeria to sustain operations beyond the first 5 years. The conceptual framework grounding this study was general systems theory. A review of the literature focused on small business failure and factors required to sustain a business longer than 5 years. Data collection occurred through semistructured interviews of a purposeful sample of 3 successful business owners in Port Harcourt, who described their experiences. Data analysis strategies consisted of using qualitative software, key words, phrases, and codes, which contributed to identifying the following themes: (a) effective strategizing, (b) flexible financial capital management, (c) human capital development, (d) market positioning and sales, and (e) stable power supply. The findings indicated that these 3 small business owners were passionate about starting up their businesses and had the necessary skills to strategize effectively and manage capital, thus sustaining their business beyond 5 years. Information derived from this study may assist small business owners in starting successful companies, that support employees, other companies, communities, and families, contributing to the development of the Nigerian economy.

In the United States, small businesses have a high failure rate, with approximately 50% going out of business during the first 5 years. The purpose of this multiple case study was to explore strategies small business owners in the mid-Atlantic region of the United States used to stay in business for more than 5 years. Entrepreneurship theory provided the conceptual framework for the study. A sample of 5 small business owners participated in semistructured face-to-face interviews, and additional data were collected from field notes, observations, and review of artifacts related to small business success and longevity. Data were analyzed using Yin's 5 stages of coding to reveal 4 themes: solve a problem, ensure start-up money, address marketing, and provide great customer service. Proper planning that addressed all 4 themes was the most important leadership strategy to sustain small businesses beyond 5 years. The results of this study might bring about positive social change by helping small business owners to ensure business growth, increase revenues, stimulate job creation, foster social unity, and promote local economic stability.