Return to search

Financial Strategies for Sustaining Small Businesses

A failure of a small business has a negative impact on the economic health of the community where the small business operates. Small businesses are significant entities in economies around the world, but small businesses have a high failure rate. The purpose of this multiple case study was to explore what financial strategies small business manufacturing leaders use to increase productivity and profitability to sustain the business for longer than 5 years. The population for this study was three small manufacturing business owners in Pennsylvania who have been in business over 5 years and have used financial strategies to increase productivity and profitability. The theory of planned behavior was the conceptual framework for the study. Data were collected using semistructured interviews and direct observation. Methodological triangulation was used to analyze the data. Four themes emerged after the data was coded in NVivo: the importance of company data, planning for a sustainable future using capital expenditures, cash flow management, and owner/employee collaboration in decision-making. The potential for positive social change includes increasing the survival rates of small businesses. The increase in small business survivals may potentially contribute to increases in employment rates in the community of small manufacturing businesses, leading to increased family incomes and improved overall economic health of the community.

Identiferoai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-6597
Date01 January 2018
CreatorsCummings, Jennifer
PublisherScholarWorks
Source SetsWalden University
LanguageEnglish
Detected LanguageEnglish
Typetext
Formatapplication/pdf
SourceWalden Dissertations and Doctoral Studies

Page generated in 0.0018 seconds