Small businesses struggle to survive for longer than 5 years because owners lack knowledge of strategies to sustain financial capital. The purpose of this multiple case study was to explore strategies small business owners used to maintain financial capital to ensure survivability for longer than 5 years. The sample included 3 successful service- related small business owners located in the southeastern United States. Systems theory and the theory of entrepreneurship provided the conceptual framework for the study. Data collection involved face-to-face, semistructured interviews and a review of company websites and organizational documents. Member checking enhanced the credibility of the findings. Themes included personal preparation, customer services, and sustaining strategies. Findings may contribute to entrepreneurs' and small business owners' knowledge of financial strategies to sustain their businesses for longer than 5 years, which may benefit the overall wealth of the community by increasing employment opportunities, economic growth, and financial stability. Implications for positive social change include providing operation survival practices for new small business owners, business preparation skills, developing and maintaining internal and external customer service relations, and sustaining accessible financial capital.
| Identifer | oai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-6939 |
| Date | 01 January 2018 |
| Creators | Stovall, Barbara |
| 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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