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.
| Identifer | oai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-8662 |
| Date | 01 January 2019 |
| Creators | Guy, Tywon |
| Publisher | ScholarWorks |
| Source Sets | Walden University |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | Walden Dissertations and Doctoral Studies |
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