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1
Jakes, Lyndabelle Virgil. "Success Strategies of Small Business Owners." Thesis, Walden University, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10751428.
Full textAbstract:
<p> 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. </p><p>
2
Turner, Susan Janet. "Success Factors of Small Business Owners." ScholarWorks, 2015. http://scholarworks.waldenu.edu/dissertations/1721.
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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.
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Onyenego, Ovuefelomaloye. "Small Business Owners' Strategies for Success." Thesis, Walden University, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10975877.
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<p> 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.</p><p>
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Onyenego, Ovuefelomaloye London. "Small Business Owners' Strategies for Success." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5925.
Full textAbstract:
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.
5
Jakes, Lyndabelle. "Success Strategies of Small Business Owners." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/4967.
Full textAbstract:
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.
6
Walker, Elizabeth A. "Small business owners' measures of success." Thesis, Edith Cowan University, Research Online, Perth, Western Australia, 2001. https://ro.ecu.edu.au/theses/1039.
Full textAbstract:
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.
7
Hiers, Christina. "Small Aviation Business Success Strategies for Profitability." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2828.
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Ninety-five percent of all aviation businesses are small businesses; from 2009-2012, small aviation business operations decreased by 10.2% and resulted in a loss of $4.4 billion in revenue. The purpose for this multiunit case study was to explore what strategies small aviation businesses leaders used to reduce or control operating expenses for profitability. The sample comprised 3 small aviation businesses located in Middle Tennessee. The conceptual framework for this study built upon systems theory and sustainability theory. The data were collected through semistructured interviews and company documents. Member checking was completed to strengthen creditability and trustworthiness. Based on the methodological triangulation of the data sources collected, 5 emergent themes were identified after completing the 5 stages of data analysis: buying or purchasing power, being customer focused, having the right employees, having the right equipment, and leadership. When small aviation business owners incorporate these themes into their business model, they may increase the prosperity of their companies, the employees, their families, the surrounding communities, and the local economy. The findings from the study may contribute to social change by providing insights and strategies for small aviation business leaders in reducing operating costs for profitability. The data from this study may contribute to the prosperity of the small aviation business leaders, their employees, their families, the surrounding community, the local airport, and the local economy. By reducing operating expenses, small aviation business leaders will have more money to invest in the local community and the economy.
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Barnes, Tawny. "Success Factors for Minority Small Business Sustainability." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/6398.
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Minority small business owners significantly contribute to national and local economies. Only 50% of small firm owners sustain their businesses longer than 5 years. The purpose of the multiple case study was to explore the management strategies that minority small business owners used to sustain their businesses for longer than 5 years. The study's population consisted of 4 minority small business owners in the midwestern region of the United States to explore management strategies necessary for maintaining minority small firm operations. The conceptual framework for the study was general system theory. Data sources included semistructured interviews, social media information, company documentation, and company website information. Based on the methodological triangulation of the data sources, analytical coding, and analyzing the data using a qualitative data analysis software, 3 themes emerged: networking with other small business owners, strategic planning, and building strong customer and employee relationships. The study findings might contribute to positive social change by providing knowledge about effective management strategies to minority small firm owners, thereby creating jobs, augmenting local and national economies, and increasing profitability.
9
Ratcliff, Diana. "Success Strategies for Small Service Business Owners." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5406.
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Small business owners struggle to sustain their businesses over time. According to U.S. Census data in 2014, only half of all small businesses survived beyond the first 5 years of operation, and only a third survived longer than 10 years. Grounded with the strategic contingency theory, the purpose of this multiple case study was to explore strategies small service business owners used to succeed beyond the first 5 years of operation. The target population consisted of 4 owners of small service and retail businesses in Arlington, VA, with fewer than 50 employees who have succeeded in business longer than 5 years. Through a process of methodological triangulation, data collected from financial documents, publicly available records, and external sources supplemented semistructured interview data. Using thematic analysis by coding narrative segments, 3 themes emerged including developing a unique marketing strategy, developing strategic leadership skills, and required business skills for sustainability. Successful unique marketing strategies emerged from understanding customer needs. The results from this study could benefit business owners by improving business success rates, which would have a positive economic effect on local community, including job creation, and sustainable economic stability. The implications for positive social change might include the reversal of small business failure trends through the application of successful business strategies.
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Giardino, Timothy John. "Industry Best Practices Contributing to Small Business Success." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2728.
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Small business owners generate jobs within the local community, but half of new business owners often fail to sustain operations for the first five years. The purpose of this qualitative descriptive study was to explore strategies that small business owners in central Texas used to sustain their businesses beyond the first 5 years. Schumpeter's theory of economic development grounded the study. Data collection included semistructured face-to-face interviews with a purposeful sample of 20 small business owners due to their success in creating strategies resulting in sustaining their businesses beyond 5 years in a postrecession business environment. All interpretations from the interview data included member checking to validate the credibility of the findings. Using the van Kamm method for thematic analysis, four themes emerged that included conducting business near federal and state organizations, having a business mentor, improving competitive positioning by focusing on improving both the quality of goods and services as well as innovating the customer experience, and adapting to rapidly changing economic conditions and destabilizing events with optimism and perseverance. Of these, the two most successful strategies entrepreneurs employed to improve survivability was conducting business near federal and state organizations with concentrated levels of workforce employees for sustained levels of returning business, as well as having one or more business mentors as an external source of entrepreneurial mentorship or information. Social change implications for small business owners include the potential to provide new strategies for small business sustainability, reductions in local unemployment rates, and improved community-based networks.
11
Russell, Calvin Lewis. "Service-Disabled Veteran Small Business Owners' Success Strategies." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2378.
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The federal government has been inconsistent in meeting the mandated contracting set-aside goals of 3% to aid service-disabled veteran small business owners. Guided by the general systems theory, the purpose of this qualitative exploratory case study was to explore what strategies an owner and 2 senior managers of a small service-disabled veteran-owned business in the Washington, DC metropolitan used to obtain federal contracts. The owner and senior members represented those responsible for strategic vision, development of business opportunities, and the company acquisition process. Data were collected from semistructured face-to-face interviews and corporate documents. Member checking and transcript review were completed to strengthen trustworthiness of interpretations of the participants' responses. Based on the methodological triangulation of the data sources collected, 6 themes emerged from the data analysis as key strategies to obtain federal contracts: business practices, business development of opportunities to attain growth, marketing to obtain opportunities to bid, networking to gain industry knowledge on trends and markets, understanding federal government contracts which emphasized the federal acquisition system access and availability of procurement information, and contract bidding which emphasized the importance of solution development. The findings from the study may contribute to social change by providing insights and strategies for service-disabled veteran small business owners in sustaining profitability through obtaining government contracts. The data from this study may contribute to the prosperity of the veteran small business owners, their employees, their families, and local communities.
12
Madu, Marcellinus Emeka. "Success Strategies for Small Business Owners in Philadelphia, Pennsylvania." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2092.
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African immigrant business owners create jobs and often stimulate economic growth in distressed inner-city areas, yet they continue to experience barriers obtaining financial support in the United States when trying to gain entrance into the broader economy. The objective of this multiple case study was to explore strategies African immigrant business owners used to succeed in business beyond 5 years. The conceptual framework of this study included resource-based theory, human capital theory, and disadvantage theory. Semistructured interviews were conducted with 3 African immigrant business owners in Philadelphia, Pennsylvania who had succeeded in business beyond 5 years. Thematic analysis from interviews, organizational documents, and Bureau of Labor Statistics data identified 8 emergent themes. Findings indicated that, for these 3 African immigrant business owners, education, managerial-related experience, motivation, and networking were key attributes related to small business success. Additionally, for this group, innovation, steady flow of resources, and adequate access to capital were predictive of successful businesses. This study may contribute to positive social change by providing guidance to African immigrant business owners about effective business strategies; this knowledge may help to improve the quality of life for African immigrants in the United States. Increasing the prosperity of the business community is incumbent upon the development and use of new knowledge.
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Gilliard, Tawanda. "Entrepreneurial Opportunities to Develop Strategies for Small Business Success." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5081.
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Entrepreneurs of small businesses fail because of the lack of strategies to improve business performance. Using the model of strategic entrepreneurship, the purpose of this multiple case study was to explore strategies entrepreneurs used to exploit entrepreneurial opportunities to improve their business performance. Three entrepreneurs from different fitness businesses in South Carolina shared strategies used to exploit entrepreneurial opportunities to business performance. Data were collected from semistructured, face-to-face interviews and a review of company documents such as business performance plans, consolidated financial statements, and a digital equipment user log. Member checking and methodological triangulation increased the validity of the data. The data analysis process involved compiling and disassembling the data into codes, reassembling the data, interpreting the meaning, and writing and reporting the themes. The information collected from 3 participant responses was insufficient to answer the central research question. Participants provided information but did not give rich feedback to confirm or disprove their use of strategies to improve business performance. The themes that emerged from the data analysis were planning to improve business performance and effective leadership. Both themes were entrepreneurial opportunities identified as strategies by entrepreneurs used to improve business performance. The themes identified as strategies might help other entrepreneurs improve business performance for small business success. Implications for positive social change include providing new insights for best business practices, better preparation to increase entrepreneurial survival, and good relationships leading to healthier community lifestyles.
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Gaynor, Bruce David. "Success Strategies of Latin American Immigrant Small Business Entrepreneurs." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4515.
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Small business restaurants represent a significant segment of the U.S. economy; however, many small business restaurants fail before 5 years of operation. The purpose of this exploratory multiple case study was to explore the strategies entrepreneurs used to sustain operations beyond 5 years. The population for this study was 3 Latin American immigrant small business restaurant owners in the central part of the U.S. state of Georgia, who had sustained operations for more than 5 years. The conceptual framework consisted of entrepreneurship and knowledge management theories. The data derived from semistructured interviews and organizational documents presented by the participants. Data analysis involved using a modified van Kaam method and qualitative analysis software to identify and analyze emergent themes. The 3 themes were cultivation of ego-networks, human capital development, and engaged entrepreneurial activities. The findings from this study suggest that small business owners enhance their external social network, advance the human capital of employees and the entrepreneur, and apply entrepreneurial orientation practices. Using study findings, small business restaurant owners may be better able to have sustainable businesses and, thus, contribute to their local communities' economic and social well-being. Implications for positive social change include the potential to prevent the economic and socially damaging effects of business failures and unemployment as well as the potential to cultivate a skilled U.S. Latin American workforce, through the advancement of human capital.
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Chamberland, Kenneth Joseph. "Success Factors of Veteran-Owned Small Businesses." ScholarWorks, 2015. https://scholarworks.waldenu.edu/dissertations/573.
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Small business failure rates equate to 30% within 2 years and 50% after 5 years. The purpose of this multiple case study was to explore the strategies that veteran-owned small businesses used to sustain a business beyond 5 years in central Florida. Using a purposeful sampling technique, 13 central Florida veteran small business owners consented to interviews about their operating processes. Analysis of the veteran-owner managerial practices revealed common nodes and themes regarding small business longevity factors. Based on constant comparison coding, 4 small business themes emerged: business operating practices, market research, business adversities, and external small business assistance avenues. The experiences of veteran small business owners emulated the general systems theory and the triple-loop learning theory in identifying, organizing, and initiating process changes for small business operational permanence. This study has social change implications for aspiring veteran small business owners: Successful veteran entrepreneurship can promote positive social values, stakeholder satisfaction, and employment opportunities by exploring small business operating strategies, conducting market analysis, overcoming adversities, and petitioning external small business veteran programs.
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Maritz, Anna-marie. "Development of a critical success factor assessment for small organisations." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/49694.
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Thesis (MBA)--Stellenbosch University, 2001<br>ENGLISH ABSTRACT: Small businesses are the traditional source of local and national economic
growth. Small businesses in South Africa absorb almost half the people formally
employed in the private sector and contribute nearly thirty seven percent to the
country's gross domestic product. Unfortunately small businesses also have the reputation of a high failure rate some literature quote figures as high as sixty six percent of all small businesses
within the first six years of their existence. An Australian survey indicated that nearly sixty five percent of all business
failures were caused by controllable factors, which implicates that the use of
consultants, or simply better management of the small business, could have
prevented the failure. This study explains why small business owners are so
reluctant to make use of outside consultants and looks into the most common
causes of small organisation failure.
This research project is designed as an incremental development study, where
an existing model is adjusted to focus on a smaller nische market. A consulting
model, developed to use in large organisations, was evaluated by identifying the
problem areas that most often cause small organisations to fail and then
comparing them to the areas addressed in the existing model. The conclusion reached was that although this model will definitely help small business owners
to improve their businesses, it doesn't address the mest common causes of
small business failure and adjustments is needed to customise this product for
the small organisation.
Based on the available data on the most common causes of small organisational
failure, a new model is developed, which addresses the specific causes of small
organisation failure.
The new model gives examples of what would be in place in an organisation
where the relevant critical success factor is successfully implemented as well as
examples of what the situation will be if the relvant factor is absent. The small
business owners evaluate themselves on a scale of one to ten. The model has a
dual purpose, firstly to create an awareness with the owner of the full spectrum
of factors that need to receive attention in a small organisation, and secondly to
give a benchmark against which progress on each of the critical success factors
can be measured.<br>AFRIKAANSE OPSOMMING: Klein besighede vorm die ruggraat van die Suid Afrikaanse ekonomie, met byna
sewe-en-dertig persent van die Bruto Nasionale Produk (BNP), wat aan klein
besighede toegeskryf kan word en as werkverskaffer aan bykans die helfte van
alle werknemers wat formeel in diens is van die private sektor. Ongelukkig het
klein besighede ook die reputasie van 'n groot mislukkingskoers met mislukkings
so hoog as ses-en-sestig persent van alle klein besighede in die eerste ses jaar
van die ondernemings se bestaan.
'n Australiese studie het getoon dat ongeveer vyf-en-sestig persent van die
oorsake van klein besigheid mislukkings aan beheerbare faktore toegeskryf kan
word. Met ander woorde hulp van konsultante, of bloot beter bestuur van die
klein besigheid, kon die mislukking verhoed het. Hierdie werkstuk kyk na redes
hoekom konsultante so min deur klein besighede gebruik word en na die mees
algemene oorsake van klein besigheid mislukkings.
Die werkstuk neem die vorm aan van 'n inkrementele ontwikkeling studie waar 'n
reeds bestaande evaluasie model, aangepas word om te fokus op 'n kleiner
nismark. 'n Konsultasie model, wat ontwikkel is vir gebruik in die diagnostiese
fase van die konsultasieproses vir groot besighede, is ondersoek en daar is
gekyk watter van die mees algemene faktore vir klein besigheid mislukking in hierdie model aangespreek is. Die gevolgtrekking was dat alhoewel die model
definitief klein besigheids eienaars sal help om hul organisasies te verbeter, dit
meeste van die oorsake vir mislukking in klein besighede nie direk aanspreek
nie, en dat aanpassings van die model nodig is.
Gebasseer op reeds bestaande navorsing oor die oorsake van klein besigheid
mislukkings, is 'n nuwe model ontwikkel, wat spesifiek gerig is daarop om die mees
algemene oorsake van mislukking aan te spreek.
Die hersiene model gee voorbeelde van wat in plek sal wees in 'n organisasie
waar die kritieke suksesfaktor suksesvol geimplementeer is asook voorbeelde
van hoe die situasie daar sal uitsien indien die relevante faktor afwesig is. Klein
besigheidseienaars evalueer hulself op 'n skaal van een tot tien. Die doel van die
model is tweeledig, eerstens om die eienaar attent te maak op die volle omvang
van faktore waaraan aandag gegee moet word, en tweedens om 'n riglyn te bied
waarteen vordering op elkeen van die kritieke sukses faktore gemeet kan word.
17
Alhajeri, Abdullah S. B. J. "The financing and success factors of small business in Kuwait." Thesis, University of Portsmouth, 2012. https://researchportal.port.ac.uk/portal/en/theses/the-financing-and-success-factors-of-small-business-in-kuwait(efd4dd4f-7911-479a-8398-3989697eec63).html.
Full textAbstract:
Small businesses (SBs) are considered as one of the pillars of the economic structure, particularly in the developing countries. Kuwait, as one of these developing countries has high hopes for these small businesses to drive the economy as a major component of the economic reform strategy. The current research is complementary to previous efforts attempting to identify problems facing small businesses and the success factors of such projects in the state of Kuwait. This study can contribute to solving some aspects of economic and social problems in Kuwait. The first phase includes determining the effect of independent variables (financial problems, marketing problems, organizational and administrative problems, and legislative problems) on the success factors of SBs. The second phase includes the assessment of the effect of success factors on profits. The third phase includes the measurement of the effect of profits and SBs problems on the continuation of these SBs. The research sample comprises owners and managers running small projects, along with a group representing the supporting bodies of small projects in the state of Kuwait. The results show that only project management and the level of profit have a relationship with the problems facing small projects in Kuwait. Also it was found that there were significant differences between the views of relevant ategories of study about the success factors of small projects in Kuwait. In addition, it was found that there was a significant relationship between the problems facing small projects in Kuwait and the success factors of those projects. These problems explain 75.8% of variance in the success factors. However, there was a weak relationship between the problems facing small projects in Kuwait and the intention to continue the project. Those problems explain 2.6% of the variance in the dependent variable. Moreover, a significant relationship was found between the problems facing small projects in Kuwait and the level of profits earned, with the problems explaining 11.9% of the changes in the dependent variable. Also, it was found that there was a significant relationship between the level of profits earned and the intention to continue the project. Finally, specific recommendations have been introduced for policy makers and managers to benefit from this study. Furthermore, suggestions are made for future studies.
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Yaru, Usman Isa. "Strategies for Small Business Enterprise Success in Ireland: A Case of Three Businesses." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/3854.
Full textAbstract:
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.
19
Thorpe, Richard. "An exploration of small business 'success' : The role of the manager." Thesis, Lancaster University, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.383561.
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Schofield, Robin Marie. "Relationship Between Bootstrap Financing, Number of Employees, and Small Business Success." ScholarWorks, 2015. https://scholarworks.waldenu.edu/dissertations/471.
Full textAbstract:
Small business entrepreneurs face high failure rates, yet the success of local, state, and national economies relies on the success of small business. With a lack of capital commonly cited as a reason for failure, entrepreneurs must find ways to predict business survival. Grounded in pecking order and enactment theory, the purpose of this correlational study was to examine the efficacy of bootstrap financing and numbers of employees in predicting business survival, measured by the business age. The research question was answered by using a predictive correlational quantitative research method with a cross-sectional survey design. The central question was whether the amount of bootstrapping financing, measured by a bootstrapping survey, and numbers of employees significantly predicts firm success, measured by firm age in years. Study participants (n = 111) were owners of small businesses in the state of New Hampshire who had been in business for a minimum of 5 years. The results of the multiple linear regression analysis indicated that bootstrap use and number of employees did not significantly predict business survival. Results indicate support for the pecking order theory of financing with minimal evidence of entrepreneurs enacting their environment. The majority of entrepreneurs surveyed used at least one method of bootstrap finance to support the business. Bootstrapping methods with the highest rate of use were offering the same conditions of all customers, negotiating the best payment terms with suppliers, and buying used equipment over new equipment. The implications for positive social change include the potential to provide New Hampshire small business entrepreneurs with information for making informed financial decisions and creating financial models.
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Snider, Joanne. "Success Factors of Small Business Owners of Independent Financial Planning Firms." ScholarWorks, 2015. https://scholarworks.waldenu.edu/dissertations/766.
Full textAbstract:
Small Business Administration statistics indicate that 20% of small businesses fail within the first 2 years and 50% fail within 5 years. The purpose of this case study was to explore the success factors and strategies of 12 small business owners of independent financial planning firms who achieved profitability beyond 5 years. A gap exists in the literature concerning such business owners, and their experiences provide valuable information to others desiring to start or maintain a financial planning business. The conceptual framework was entrepreneurship theory and Porter's 5 forces model of competitive strategy. The data were gathered via semistructured interviews and business websites and newsletters. Initial coding of the responses preceded an analysis of recurring patterns and themes. This process led to the identification of major themes: technical training is necessary but not sufficient for success; planners need training in business creation, operations, and marketing; and differentiation is important and is achieved by specialization and providing excellent client service. The business owners used Internet websites to present unique planning approaches and fee structures to clients and prospects. These results provide information to people considering starting or maintaining a small business, providers of professional education and training, and business leaders seeking to improve recruitment and retention of financial planning employee retention. Implications for positive social change include providing information to policymakers who seek to support small businesses to mitigate small business failure rates, expand job creation, and provide sources for financial guidance for American employees.
22
Thompson, Alan. "Entrepreneurship and business innovation." Thesis, Thompson, Alan (2006) Entrepreneurship and business innovation. PhD thesis, Murdoch University, 2006. https://researchrepository.murdoch.edu.au/id/eprint/356/.
Full textAbstract:
This study has examined the knowledge required for the publication of an Entrepreneurship and Business Innovation (E&BI) focused teaching text. The research design was based on a constructivist, interpretive paradigm, and utilised a qualitative methodology to support the development of a framework and content for a text. Data collection occurred through formal research, discovery and exploration of knowledge rather than verification, and was subject to my interpretation arising from my participation as an academic.
The analysis of data required a conceptual framework to be developed consistent with the research paradigm, and be so designed as to provide a way for me through a participatory process, to identify and evaluate knowledge in E&BI and investigate the research questions. The study rationalised that E&BI educational programs must first be consistent with, and reflective of, the mission of the institution providing such programs, and also, must address the learning needs of students. Previous research undertaken for this thesis had clearly identified a strong demand for material on E&BI that combined theory and practice with case studies drawn from real world entrepreneurial practices.
The outcome of this study resulted in the design of a formal text that was suitable for use by secondary, community and adult education institutions within Australia, for delivery to both a digital and print audience and representative of international E&BI good practice. The text 'Entrepreneurship and Business Innovation' was published in 2005.
The published text was designed to provide new entrepreneurs and existing Small to Medium Enterprise owners with a practical guide on how to pursue business success based on established entrepreneurial and enterprise management techniques. The thesis has explicated the scholarly coherence and originality of the published work, and further places the text within a pedagogical framework.
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Thompson, Alan. "Entrepreneurship and business innovation." Thompson, Alan (2006) Entrepreneurship and business innovation. PhD thesis, Murdoch University, 2006. http://researchrepository.murdoch.edu.au/356/.
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This study has examined the knowledge required for the publication of an Entrepreneurship and Business Innovation (E&BI) focused teaching text. The research design was based on a constructivist, interpretive paradigm, and utilised a qualitative methodology to support the development of a framework and content for a text. Data collection occurred through formal research, discovery and exploration of knowledge rather than verification, and was subject to my interpretation arising from my participation as an academic.
The analysis of data required a conceptual framework to be developed consistent with the research paradigm, and be so designed as to provide a way for me through a participatory process, to identify and evaluate knowledge in E&BI and investigate the research questions. The study rationalised that E&BI educational programs must first be consistent with, and reflective of, the mission of the institution providing such programs, and also, must address the learning needs of students. Previous research undertaken for this thesis had clearly identified a strong demand for material on E&BI that combined theory and practice with case studies drawn from real world entrepreneurial practices.
The outcome of this study resulted in the design of a formal text that was suitable for use by secondary, community and adult education institutions within Australia, for delivery to both a digital and print audience and representative of international E&BI good practice. The text 'Entrepreneurship and Business Innovation' was published in 2005.
The published text was designed to provide new entrepreneurs and existing Small to Medium Enterprise owners with a practical guide on how to pursue business success based on established entrepreneurial and enterprise management techniques. The thesis has explicated the scholarly coherence and originality of the published work, and further places the text within a pedagogical framework.
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Gandy, Denise Leigh. "Small Business Strategies for Company Profitability and Sustainability." ScholarWorks, 2015. https://scholarworks.waldenu.edu/dissertations/515.
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Small businesses are critical to the health of the United States economy as they account for approximately 50% of all jobs and 99% of all firms. The purpose for this descriptive multiunit case study was to explore what strategies small business owners used to achieve profitability by the end of the first 5 years of opening their business. The sample comprised 4 small business owners who have been profitable by Year 5 of being in business in Denver, Colorado. The conceptual framework for this study was built upon the general systems theory. The data were collected through semistructured interviews and company documents. Transcript review and member checking were completed to strengthen credibility and trustworthiness. Based on the methodological triangulation of the data sources collected, 3 emergent themes were identified after completing the 5 stages of data analysis: seasonality of the business, passion and dedication of the small business owner, and hiring the right employees. The findings from this study may contribute to social change by providing insights and strategies for small business owners in preparing and sustaining profitability. The data from this study may contribute to the prosperity of the small business owners' employees, their families, communities, and the local economy.
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Sellers, Katherine D. "From Startup to Success: An Entrepreneurial Case Study." Digital Commons @ East Tennessee State University, 2014. https://dc.etsu.edu/honors/242.
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This research is a case study based on an entrepreneurship located in Henderson, Kentucky called HorseFeathers Gifts. HorseFeathers Gifts supplies handmade, vintage-inspired jewelry and accessories to customers all over the world. The case study documents the path taken by HorseFeathers Gifts’ owners, showing exactly how the entrepreneurship reached the successful position that it currently holds. Based on the case studies available and a review of the literature, it is apparent that no other case studies like this one exist. Information for this case was gathered by interviewing both owners of HorseFeathers Gifts. The interviews helped me to learn about the business’ story from the day it was first engendered until the present day. This case study displays the business’ processes, successes, and failures, and ultimately gives struggling or aspiring entrepreneurs advice on how to better their own chances of business survival.
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Norris-Jones, Renee. "Relationships Between Critical Business Performance Variables and Solo Criminal Law Practitioners Success." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4397.
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Growing numbers of America's 1,281,432 active licensed attorneys open their own law firms due to strained employment opportunities. With 50% of small businesses failing within 5 years, and solo law offices accounting for 75% of attorneys in private practice, there is a need for preparing solo criminal law practitioners for business success. Some solo criminal law practitioners do not understand the critical business performance variables that impact small business success. The total population for this quantitative correlational study included solo criminal law practitioners from the Philadelphia Bar Association Legal Directory and Pennsylvania Association of Criminal Defense Lawyers members. Barney's resource-based theory (RBV) and Lussier's nonfinancial success-failure business prediction model were the foundational frameworks of this study. I used Lussier's nonfinancial success-failure questionnaire to collect data via a self-administered survey. A Kendall tau correlation was used to determine the relationship between Lussier's 16 independent variables measuring success or failure and a single dependent variable of 'level of profits' for the 31 participants. 31 participants (4%) is a very low response rate. Increased participation is needed for better research results. Fifteen of the 16 variables showed no relationships with the level of success. Only 1 hypothesis showed a relationship between the type of start-up plan developed by the firm and the level of success (Ï? = .322, p = .032). The findings from this study support the Small Business Association's definition of a business plan as a living roadmap for business success. The implications for positive social change include the potential to increase employment opportunities by directly impacting the economy in creating economic expansion.
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Foley, P. "Marketing management policies and small businesses : An investigation of the factors contributing to small business success." Thesis, Leeds Beckett University, 1987. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.379432.
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Nnabue, Tony. "Success Strategies Among Immigrant Small Business Owners in the Southeastern United States." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2566.
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Although considerable concern exists regarding immigrant businesses, few studies address immigrant small business owners' strategies for success and sustainability. The purpose of this phenomenological study was to explore the strategies that immigrant small business owners in metro Atlanta, Georgia can use to sustain their business beyond 5 years. Cultural theory formed the conceptual framework for this study. A purposeful sample of 20 immigrant small business owners in metro Atlanta provided the data garnered from semistructured interviews for this research study. Using open coding, and modified van Kaam analysis of the interview data, 5 themes emerged for immigrant small businesses that were successful and survived beyond 5 years: strong work ethic and family dynamics, flexibility and independence, limited societal barriers, business experience, persistence and great customer service. Two themes emerged among immigrant small business owners whose businesses failed, which were, inadequate financial posture, and poor business and managerial knowledge. The findings of this study may contribute to social change as the strategies presented could guide new immigrants in establishing successful and sustainable immigrant small businesses. Results from this study could help educate small business owners about some of the causes of business failures.
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Yang, Xeng Xaychu. "Key Success Factors of Small Business in a Southern Region of California." ScholarWorks, 2016. http://scholarworks.waldenu.edu/dissertations/1580.
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The United States has high failure rates of small businesses, with 50% of new small business establishments failing during the first 5 years, and 60% of small business owners failing within the first 6 years of business operation. Small retail services business owners help provide job creation as a driver of growth for the U.S. economy. The purpose of this qualitative single case study was to explore the strategies small retail services business owners use to sustain their business for 5 years or more in San Diego County, California, with entrepreneurship theory as the conceptual framework. A purposive sample of 2 successful small retail services business participated in the interview process describing their perspectives. The research question aim was to identify strategies that successful small retail services business owners apply to sustain their business beyond 5 years. Coding keywords, sentences, and ideas from semistructured interviews and document analysis into categories was the key for the data analysis using method triangulation. Six themes emerged: (a) education and training skills acquired, (b) motivation, (c) brand awareness, (d) community involvement, (e) client loyalty, and (f) small business survival tactics. According to the responses of the participants, brand awareness and client loyalty were the most vital strategies to sustain business more than 5 years. The implications for social change include the potential to provide new strategies to support small retail services business toward sustainability; create strong relationships between small business; and enhance perceptions of community in order to increase sales, revenue, and job creation.
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Somado, Hemazro Folly. "Exploring Critical Success Factors for Sustainable Togolese-Owned Small businesses in the United States." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2764.
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In the United States, although foreign-born individuals are more than twice as likely to start new ventures, immigrant-owned businesses often fail within the first 5 years. The purpose of this single case study was to explore the strategies that U.S.-based Togolese small business owners who were engaged in entrepreneurial activities in Togo. The Schumpeterian entrepreneurship theory underpinned the study and served as a theoretical reference. Interview data were collected from 20 successful Togolese small business owners who resided in the Washington D.C. metropolitan area, who were engaged in entrepreneurial activities in Togo, and who had been in business for more than 5 years. Data analysis involved using coding techniques and word clustering, with the invocation of qualitative data analytical software. The use of methodological triangulation enabled deeper analysis and added to the rigor of the study. The 4 key themes emerging from the coding and thematic analysis of interviews included (a) entrepreneurial motivation and attributes, (b) overcoming financial hardship, (c) leveraging information technologies, and (d) addressing challenges in the dual business environment. The findings of the study may advance contribution to positive social change as immigrant business owners may use the knowledge to improve business success, which could lead to the creation of jobs and improvement in the standard of living of U.S.-based Togolese entrepreneurs. The discoveries from the research may also contribute to positive social change for local communities in Togo, as the diaspora flow of investments and remittances from the United States may increase.
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Warden, Stuart Charles. "E-commerce adoption by SMMEs : how to optimise the prospects of success." Thesis, Cape Peninsula University of Technology, 2007. http://hdl.handle.net/20.500.11838/1410.
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Thesis (DTech (Information Technology))--Cape Peninsula University of Technology, Cape Town, 2007<br>The expansion of the Internet and increased use of Web-based technologies over
the last decade have led to the development of many new online business
applications. The expanded global business world, commonly termed the new
economy, has propelled networking to form new relationships. : Traditional
relationships between businesses and their customers on the one side, and
between businesses and their supply chains on the other side are being
challenged. In addition, new distribution channels using the Internet have
emerged enabling businesses to reach a much wider audience than using
traditional brick-and mortar models. However, commercial entities do query the
maturity of the Internet and Web-based technologies at times and are often
concerned to what extent this can add value to their businesses. There are
unanswered questions such as how important are customer relations, what
products or services should ideally be used and what are the security, fraud and
trust issues pertaining to e-commerce adoption. Furthermore, some uncertainties
have emerged that may have an impact on the success of e-comrnerce initiatives
for example, bandwidth limitations, customer loyalty and legal requirements.
Over time existing business models have been adapted while new models have
emerged for online business.
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Ndeisieh, Atem Emmanuel. "Strategies for Success and Sustainability in Small and Medium-Sized Enterprises Beyond the First 5 years." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5757.
Full textAbstract:
According to the Cameroon Ministry of Economy, Planning, and Regional Development, small and medium-sized enterprises (SMEs) employ over 70% of the active population and contribute significantly to economic growth and development, yet the failure rate of SMEs in the region within the first 5 years remains at 72%. The purpose of this multiple case study was to explore the strategies that SME owners used to sustain their businesses for longer than the first 5 years. With the resource-based view as the conceptual framework, purposive sampling was used to select 5 owners of small food-processing enterprises in Cameroon who demonstrated successful sustainability strategies. Data were collected using semistructured, open-ended interviews and review of business documents. Data were analyzed using member checking and methodological triangulation. Yin's 5- step process for data analysis revealed 9 themes including education, technical experience, and skills; entrepreneurial and business management skills; access to external support; bookkeeping and working capital management; human resource management; owners' dedication and commitment; research and development and marketing strategies; resource-based strategic planning; and owners' understanding of the business ecosystem, regulations, and taxation. The results may contribute to positive social change by increasing the survival rate for SMEs leading to job creation and improvement of the living standards in local communities.
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Saracina, Tara Honea. "AN EXAMINATION OF THE USE OF ACCOUNTING INFORMATION SYSTEMS AND THE SUCCESS OF SMALL BUSINESSES IN SOUTH CAROLINA." NSUWorks, 2012. http://nsuworks.nova.edu/hsbe_etd/102.
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The purpose of this study was to explore the relationship between the use and sophistication of accounting information systems (AISs) and the success of small businesses in South Carolina. Additionally, this study explored the variables that influence South Carolinian small business owners/managers in the extent of adoption (sophistication) of AISs. This study applied the contingency theory of management accounting information systems as the theoretical foundation of the study. The study sought to fill the gap in the literature related to the use of accounting information systems in small businesses. Previous empirical studies of owner/manager behavior have resulted in conflicting findings with respect to accounting and business processes and systems utilized in small businesses. The research question central to this study was whether or not the sophistication of accounting information systems improved the success of South Carolina small businesses. The researcher expected to find that businesses owned by individuals with business-related education and previous business experience would be using more sophisticated AISs, and therefore be more successful. The results of the study did show a positive relationship between the sophistication of the AIS and higher levels of sales in small businesses. Also, the study found a significant positive relationship between the importance the owner/manager placed on AISs and the sophistication of the AIS. The findings indicated no positive significantly related differences in the sophistication of accounting information systems and owner/manager education, experience, ethnicity, or gender.
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Nwabueze, John Chidi. "Strategies to Sustain Small Accounting Businesses for Longer Than 5 Years." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7172.
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Small businesses represent over 99% of all United States businesses and are engines of economic growth and job creation. In 2018, the Small Business Administration estimated that a total of 30.2 million small businesses employed over 58.9 million workers. Small businesses are known to face significant challenges, and most fail within 5 years of startup. The purpose of this multiple case study was to explore strategies that owners of small accounting businesses used to sustain their organizations for longer than 5 years. The population in this study consisted of 5 owners of small accounting businesses in Michigan. The conceptual framework for the study was human capital theory. Data were collected through face-to-face, semistructured interviews and review of documents. The analysis of collected data yielded themes that included market research and competitive analysis, excellent customer service, passion for accounting and arduous work, and retention of skilled and competent employees. The findings of this study may be applied to bringing about positive social change by enhancing small business owners' competence and promoting business growth. Additionally, the use of the results of this study may promote economic activities and sustainability by stimulating job creation and reducing unemployment.
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Hansen, Bridget J. "Small Business Growth and Non-Growth over the Long-term." Thesis, University of Canterbury. Management, 2009. http://hdl.handle.net/10092/2363.
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This study investigates the growth and non-growth of small-and-medium-sized enterprises (SMEs) over the long-term. A multiple case study methodology was used to examine the growth paths of eight SMEs over a period of fourteen years. Four firms represented manufacturing and four, the professional and business services industry. The firms were paired according to similar sectors and contrasting growth paths. Longitudinal employment data illustrated the firms’ growth paths, and the primary method of data collection was semi-structured interviews of the firms’ owner-managers. The research incorporated extensive literature, including traditional research approaches and life cycle models and emergent literature on organisational learning and growth paths.
The growth and non-growth firms were found to be distinct from each other, regardless of industry. The growth firms’ owner-managers had strong growth ambitions and actively sought the recognition and challenges that arise from the operation of multiple growth businesses. The non-growth owner-managers had passive growth ambitions and focused on maintaining their accustomed lifestyle. These differences were also illustrated in the firms’ approaches to networking, internationalisation and technological advancement. The growth firm owner-managers were all portfolio entrepreneurs and had strong professional networks, which they considered were strategically vital. In contrast, the non-growth owner-managers were novice entrepreneurs and were nonchalant towards networking. Innovation and flexibility were identified as important characteristics in the long-term performance of the firms. Findings also indicated that owner-managers’ perceptions of their external business environment determined the influence it had on the business. Individual and collective learning processes underpin these findings in determining long-term growth performance of the firms. The strong interrelationships between owner-managers, learning processes, and longitudinal growth paths suggest areas of future research.
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Ma, Victor Kee Kin. "Success factors for new business start-up in Hong Kong: a study of the external networks of small business start-up." Thesis, Curtin University, 2009. http://hdl.handle.net/20.500.11937/2268.
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Most small new firms face problems in surviving the gestation process and achieving a viable performance thereafter because of the very fact of their smallness and newness. Due to a lack of internal resources, entrepreneurs of small new firms find it necessary to seek resources from outside the firm through their external social network. The theory of social capital that prescribes valuable resources are embedded in social relations is, thus, particularly relevant to the small business start-up situation. The embedded resources within an external network are hypothesized to have a positive impact on the business performance of these new firms. The main objective of the present study is to empirically investigate the impact of external networks, and in particular the initial social network of entrepreneurs, to the success of small firm start-up in Hong Kong. The second objective is to determine whether there is any interaction effect of the entrepreneur’s networking capability with the external network structure on the start-up success of small Hong Kong firms.To carry out the research, this study offers a conceptual model linking initial network start-up success to initial network structure of start-up, and including an interaction effect from the entrepreneur’s networking capability. The study operationalizes social capital in four types of network constructs: network size, trustworthiness, network support and network diversity. A series of hypotheses relating to these four dimensions asserting external network determinants of the start-up success of small firms is posited. Other hypotheses which assert the interaction effect between an entrepreneur’s networking capability and the initial network structure on the success of small firm start-up, are also posited. A field survey, administered to 1,000 small Hong Kong firms of various industries, is used to gather the data. The questionnaire survey was developed in two languages – Chinese and English – to ensure a good level of understanding in the bilingual business environment of Hong Kong. Of the 1,000 questionnaires dispatched, a final sample of 89 small firms was used to empirically test the hypotheses using multiple regression analysis and multiple hierarchical regression analysis. Control variables such as entrepreneurs’ experiences and education prior to the firm start-up are included.Empirical results indicate that the verification of social capital theory’s prescription for start-up success cannot be supported unequivocally. The results suggest that some initial network conditions such as initial size of strong tie network, network support and network diversity are positively associated with some measures of start-up success, but trustworthiness of network ties and the size of weak tie network do not figure among them. No evidence is found to support that entrepreneurs’ networking capability can positively enhance the effect of the initial network structure on start-up success. Overall, the study raises some questions on the positive linear relationship of certain operationalized constructs such as network size and trustworthiness of social capital with start-up success. Following the findings of this research, future studies may choose to further investigate social capital theory on small start-up success by refining the operationalization of social capital, and verify other interaction effects of entrepreneurs’ networking capabilities.
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Adams, Leigh Christie. "The cultural determinants of success in Indian owned family businesses." Thesis, Nelson Mandela Metropolitan University, 2009. http://hdl.handle.net/10948/1258.
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Family owned businesses play a vital role in the economy of a country, therefore their sustainability and succession is a topic that requires adequate research and analysis. This is required to determine the impact and contribution at a socioeconomic level and future development of the family owned business. Within the Nelson Mandela Metropolitan area previous research has been conducted analysing the above with regard to Greek family businesses. There is a little evidence to suggest similar studies have been conducted on Indian owned family businesses, specifically businesses operating at a third generation level. This research will therefore analyse Indian owned family businesses that are at a minimum level of third generation within the Nelson Mandela Metropolitan area. The purpose is to investigate whether there is any specific cultural attributes of the Indian culture which have contributed to their success.
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Vasquez, Cecilia Tobias. "Small Business Restaurant Owners' Financing Strategies for Sustainability." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7574.
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Owners of small business restaurants experience a high failure rate. Many small business restaurants fail within 5 years of inception because of inadequate business plans, ineffective strategies for changing markets, and a lack of financial capital to achieve profitability, growth, and long-term survivability. The purpose of this multiple case study was to explore the financial strategies that some owners of small business restaurants used to sustain operations for longer than 5 years. The resource-based view was the conceptual framework for this study. Participants in this study consisted of 5 owners of small business restaurants in northern California who implemented successful strategies to survive in business longer than 5 years. Data were collected through face-to-face interviews with participants, member checking, and a review of company documents. Using Yin's 5-phase data analysis process of compiling, disassembling, reassembling, interpreting, and concluding the data, 3 emergent themes were identified: financing strategy, cash-flow-management strategy, and customer-retention strategy. The implications of this study for positive social change include the potential for owners of small business restaurants to reduce the failure rate of small restaurants, decrease local unemployment rates, and increase economic stability for local families and organizations through the implementation of effective financial strategies.
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Naidoo, Hilton Abraham. "Determining the enterprise success factors within a select group of retailing micro enterprises in Site C Khayelitsha." Thesis, University of the Western Cape, 2016. http://hdl.handle.net/11394/5138.
Full textAbstract:
Magister Commercii - MCom<br>The research identified Site C area of Khayelitsha, a township in the Western Cape province of South Africa, as the case study. Khayelitsha has an estimated population of 1.2 million people, and has about 22 sub-sections or areas. Khayelitsha is made up of old formal areas and new informal/formal areas. Site C, is an area which was built up around one of the old formal areas, and contains a high number of informal settlements, RDP houses, and informal backyard dwellers. The study’s primary objective is to identify what factors the business owners themselves regard as being critical for their own personal success, as well as that of the business they own. The secondary objectives were to determine what the make-up of these identified success factors were, and what their respective contribution was to the overall success of the business, as well as what interventions (if any) could make these identified success factors more effective. Qualitative data was requested from each of the participants over the various questionnaire development phases, to obtain a basic and detailed picture of each owner and their business, and to enable a detailed descriptive analysis of each participant. During the literature reviews of the Small Medium and Micro Enterprise (SMME) sector in South Africa, many sources identified the possible failure factors. These failure factors had extensive references to studies which focused primarily on the small and medium enterprises versus the micro enterprises component. The level of data available on micro enterprises indicated a significantly lower level of relevant data, than the data available on the small and medium enterprises component. The identification of the success factors is equally important as a
valuable contributor to understanding the significant failure rate of start-up businesses within the SMME sector in South Africa. This thesis will consult literature studies that discuss these challenges. It will have an emphasis on the micro enterprise sub-sector within the broader SMME sector. The inequitable number of data between the micro enterprises and the small to medium enterprises is confirmed by the literature review. The core focus of the research is to hear from the established micro entrepreneurs themselves and what they identified over the
course of their business existence, as being the key factors that enabled their success to date, as well as moving toward the future. The findings indicated that success factors are indeed identifiable from the entrepreneurs themselves. These factors included the education and training level of the entrepreneur, the entrepreneurial capacity of the entrepreneur, the access to financial resources, the specific business retail mix and the uniqueness of the specific business within its immediate locality. Whilst the owners’ success (and by default the business as well) is the priority of this research, the equally important failure rate of small business initiatives in South Africa is of concern, and are the proverbial other side of the coin. Small businesses are playing a vital part in our global economy and in particular in terms of job creation and poverty alleviation. The two pillars of the
governments micro enterprise rollout is through the Department of Social Development via poverty alleviation programs which have at their core, essentially micro enterprise formation. The other pillar is via the Department of Trade and Industry in respect of job creation and empowerment as objectives. In South Africa much emphasis throughout the Integrated Small Business Strategy is placed by national, provincial and local governments on Small, Medium and Micro enterprises (SMMEs), to drive job creation and poverty alleviation. Therefore, an investigation into the factors contributing to the success of SMMEs is of vital importance. Recent
changes in statistical data gathering methodologies have enabled greater understanding of the contribution of especially the smaller enterprises in the informal sector. The extensive literature consulted, put this figure as high as 80% of economic activity in developing countries. This by itself makes it critically important as an employment option for the retrenched, school leavers, graduates and the unemployed in general. Only willing participants were interviewed and were
randomly selected based on the criterion of being in business continuously, for at least 5 years. This target population’s value is unique because they fall into the 20% category of small businesses who survive the first 3.5 years of business, as well as being in the even more elite and valuable niche of 2.10% of South Africans who are running firms older than 3.5 years. These two features are both exceptional and generates’ a unique further study opportunity. The opportunity is to identify why the other 80% of start-ups failed over the initial 12 - 48 month
period since start-up. The specific focus area of this research is to identify the success factors of retail micro enterprises located within the case study area, being Site C Khayelitsha. The broad findings of the study of successful retail micro-enterprise owners in Site C Khayelitsha, indicate that their prior quality of education, the presence of role models in their social circle influenced their motivational aspect to start a business, their personal management skills levels were a significant feature in their success as well their exposure to, and
understanding of business and how it works; were all crucial to their success.
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Newby, Rick. "Examining the goals of small and medium enterprise owner-operations." University of Western Australia. School of Economics and Commerce, 2006. http://theses.library.uwa.edu.au/adt-WU2007.0021.
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[Truncated abstract] The focus of this thesis is to investigate the meaning and measurement of business success for owner-operators of Small and Medium Enterprises (SMEs). Taking a first step towards a greater understanding of SME performance, the study develops an instrument specifically designed to measure the business goals and objectives of SME owners. This development is based on a combination of a: literature search; quantitative analysis of a secondary data set of the goals and expectations of Australian retailers; qualitative (focus group) study of West Australian SME principals; and quantitative (mail survey) study of West Australian SME principals. Both these primary data studies used SME principals from a wide variety of industries . . . Tests of the power of the SOS to account for differences in economic performance revealed that the SOS significantly increased understanding of variations in owner returns and profitability and had a limited capacity to explain differences in revenue growth and staff revenue productivity. SOS satisfaction was found to describe differences in owner-operators’ perceptions of business success significantly better than objective measures of economic return. It is expected that such knowledge will help subsequent research develop an understanding of how SME onwer-operators modify their expectations of economic return for the utility they gain from their working life.
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Gustavo-Nahum, Claudette. "Bridging the gap between financial and non-financial business development services for enhancing SME success : a Namibian case study." Thesis, Stellenbosch : Stellenbosch University, 2013. http://hdl.handle.net/10019.1/97403.
Full textAbstract:
Thesis (MDF)--Stellenbosch University, 2013.<br>ENGLISH ABSTRACT: There is general consensus that small and medium sized enterprises (SMEs) play a formidable role in contributing to employment creation, domestic and export earnings, and poverty reduction (OECD, 2004). They are therefore extremely important to the development of nations (particularly developing countries), as they constitute the bulk of economic contributors outside of agriculture (OECD, 2004). However, SMEs face a number of challenges as they work to realise these important contributions. Aside from the financial constraints that often mar the success rate of SMEs, several non-financial factors hinder their development and their ability to contribute to national development. Non-financial issues include access to markets, technology and training; sectoral support, business networking, and access to information and advice (Thomas, 2003).
Based on the important role that SMEs play in developing economies, however, it is crucial that they receive the support needed to help them to succeed, through the provision of business development services. While the financial aspect of SME success is important, their non-financial needs should also be addressed to ensure the holistic survival of SMEs (European Commission, 2009). The role and development of adequate non-financial business development services to either complement financial resources, or to mitigate the lack thereof, is therefore imperative (International Finance Corporation, 2010).
This research report explores the gap that currently exists between the financial and non-financial business development services that exist for SMEs in Namibia; and analyses how non-financial services can be enhanced and marketed, to complement financial services that currently exist, and of which SMEs are aware. The report assesses how SMEs can become better aware of, and best utilise business development services to promote their growth objectives. A quantitative and qualitative analysis of SMEs and Business Development Services (BDS) providers in Namibia is conducted, using a survey and questionnaire, and drawing on a literature review. Finally, the report provides a set of recommendations, based on international best practices, of business development instruments needed to transform the SME sector to promote long term sustainability.
This research report finds that SMEs need to become better aware and make use of non-financial BDS support to realize the growth objectives of their businesses. The researcher recommends that government and NGOs streamline their support of BDS providers, to being more facilitative and less prescriptive. Additionally, it is recommended that incubation centres adopt best practices in terms of incubator creation, process and performance assessment; that sectoral support and industrial clusters for technical-know-how is promoted; and that BDS suppliers provide context-specific training in order to enhance the effects of training provided. Further recommendations include the promotion of BDS to the general public to increase awareness of the importance of these services; the harnessing of BDS in Namibia’s financial institutions for a more complementary approach; and the formation of a National SME Agency to oversee and facilitate the effective provision of business development services.
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Armstrong, Douglas Bruce, University of Western Sydney, of Science Technology and Environment College, and School of Environment and Agriculture. "CEO characteristics, organisation characteristics, decision making and CBIS success in regional small business." THESIS_CSTE_EAG_Armstrong_D.xml, 2003. http://handle.uws.edu.au:8081/1959.7/773.
Full textAbstract:
The research conducted for this thesis had two broad aims. The first was to provide descriptive information about the use of computer-based information systems (CBIS) in regional small business. The second of the aims was to examine the relationships among key constructs identified from the literature and to explore how they contributed to predicting CBIS success in regional small business.In the second phase of the analysis, Exploratory Factor Analysis (EFA) was used to examine the factorial constructs underlying the data. Constructs were identified that measured CEO characteristics, two measuring organisational characteristics, four measuring aspects of decision-making, and five measuring perceived CBIS success. Correlations among the constructs were examined prior to relationships among the constructs being explored using hierarchical regression analysis. The constructs were also examined in a single measurement model to determine their collective effect and relationships with the constructs measuring CBIS success based on structural equation modelling. Notwithstanding the limitations of the research, it resulted in the identification of relationships among key variables that predict CBIS success. The identification of items associated with decision-making processes, and the identification of the factorial constructs underlying the data is a major contribution to a portion of the literature that was non-existent. The final measurement model is also a significant contribution in identifying and specifying the relationships constructs measuring CEO characteristics, organisational characteristics, decision-making and CBIS success in regional small business.<br>Doctor of Philosphy (PhD)
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Armstrong, Douglas Bruce. "CEO characteristics, organisation characteristics, decision making and CBIS success in regional small business /." View thesis, 2003. http://library.uws.edu.au/adt-NUWS/public/adt-NUWS20040618.095159/index.html.
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Dyer, Melissa Renee. "Financial Strategies for Long-Term Success in Women-Owned Small Businesses." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7633.
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In the United States, many small businesses fail within the first 5 years due to poor implementation of long term financial strategies. Researchers and business practitioners indicated that women small business owners face challenges in financing their small businesses beyond 5 years due to a lack of long-term financial strategies. The purpose of this qualitative multiple case study was to explore long term financial strategies women use to sustain their small businesses beyond 5 years. The general theory of entrepreneurship was the conceptual framework for this study. Data were collected from semistructured interviews with 11 women small business owners in Cleveland County, North Carolina, who had been in business beyond 5 years and the U.S. Bureau of Economic Analysis data. The 3 themes discovered were methods of funding small businesses, challenges for women as small business owners, and entrepreneurial spirit. The implications for positive social change include the potential to affect the long term success of women entrepreneurs by providing knowledge on financial strategies. The success of women small business owners strengthens local economies by stimulating economic growth, increasing the employment rate, and improving the standard of living of the area.
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Ngcwangu, Sivuyo. "The success factors of SMME's in New Brighton, Port Elizabeth." Thesis, Nelson Mandela Metropolitan University, 2015. http://hdl.handle.net/10948/6369.
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The important role played by small, medium and micro enterprises (SMMEs) in economic development has long been recognised by government at various levels in South Africa. The passing of the National Small Business Act, 1996 (Act 102 of 1996), and more significantly its Amendment Act of 2004 (Act 29 of 2004) which called into existence the Small Enterprise Development Agency (SEDA), as well as a range of strategies headed by the current Integrated Strategy on the Promotion of Entrepreneurship and Small Enterprises of 2005 bear testimony to a commitment on the part of the nation to small enterprise growth. There is vast research pertaining challenges facing small medium and micro enterprises (SMMEs) as well as factors that have a positive impact on the growth and success of these enterprises. This primary objective of this study was to identify successful SMMEs in the New Brighton Township, Port Elizabeth and investigate factors that have enabled them to maintain their stability over the years. Also, this study will investigated causes of SMME failure with the aim of providing possible solutions to these challenges. After a comprehensive literature review on SMMEs, the following variables were identified as possibly having an influence on the growth and profitability of small enterprises. These are: Entrepreneurial orientation; Customer focus; Human resources; Record keeping; Access to funding; External support; Training and education; Access to markets. These variables were used to construct research hypotheses and a conceptual model which could be used to address challenges faced by SMMEs.
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Ma, Victor Kee Kin. "Success factors for new business start-up in Hong Kong: a study of the external networks of small business start-up." Curtin University of Technology, Graduate School of Business, Curtin Business School, 2009. http://espace.library.curtin.edu.au:80/R/?func=dbin-jump-full&object_id=129026.
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Most small new firms face problems in surviving the gestation process and achieving a viable performance thereafter because of the very fact of their smallness and newness. Due to a lack of internal resources, entrepreneurs of small new firms find it necessary to seek resources from outside the firm through their external social network. The theory of social capital that prescribes valuable resources are embedded in social relations is, thus, particularly relevant to the small business start-up situation. The embedded resources within an external network are hypothesized to have a positive impact on the business performance of these new firms. The main objective of the present study is to empirically investigate the impact of external networks, and in particular the initial social network of entrepreneurs, to the success of small firm start-up in Hong Kong. The second objective is to determine whether there is any interaction effect of the entrepreneur’s networking capability with the external network structure on the start-up success of small Hong Kong firms.<br>To carry out the research, this study offers a conceptual model linking initial network start-up success to initial network structure of start-up, and including an interaction effect from the entrepreneur’s networking capability. The study operationalizes social capital in four types of network constructs: network size, trustworthiness, network support and network diversity. A series of hypotheses relating to these four dimensions asserting external network determinants of the start-up success of small firms is posited. Other hypotheses which assert the interaction effect between an entrepreneur’s networking capability and the initial network structure on the success of small firm start-up, are also posited. A field survey, administered to 1,000 small Hong Kong firms of various industries, is used to gather the data. The questionnaire survey was developed in two languages – Chinese and English – to ensure a good level of understanding in the bilingual business environment of Hong Kong. Of the 1,000 questionnaires dispatched, a final sample of 89 small firms was used to empirically test the hypotheses using multiple regression analysis and multiple hierarchical regression analysis. Control variables such as entrepreneurs’ experiences and education prior to the firm start-up are included.<br>Empirical results indicate that the verification of social capital theory’s prescription for start-up success cannot be supported unequivocally. The results suggest that some initial network conditions such as initial size of strong tie network, network support and network diversity are positively associated with some measures of start-up success, but trustworthiness of network ties and the size of weak tie network do not figure among them. No evidence is found to support that entrepreneurs’ networking capability can positively enhance the effect of the initial network structure on start-up success. Overall, the study raises some questions on the positive linear relationship of certain operationalized constructs such as network size and trustworthiness of social capital with start-up success. Following the findings of this research, future studies may choose to further investigate social capital theory on small start-up success by refining the operationalization of social capital, and verify other interaction effects of entrepreneurs’ networking capabilities.
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Buowari, Preye Elizabeth. "Factors Required for Small Business Sustainability in Nigeria." ScholarWorks, 2015. https://scholarworks.waldenu.edu/dissertations/1775.
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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.
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Bolin, Stacey. "Behaviors Contributing to Native American Business Success." ScholarWorks, 2015. http://scholarworks.waldenu.edu/dissertations/1672.
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Native Americans start fewer businesses than do other U.S. populations, and the receipts and employment of those businesses are 70% lower than the U.S. average. However, little knowledge exists concerning Native American (NA) business success. The purpose of this quantitative study was to examine the likelihood that attitudes toward entrepreneurship, subjective norms, and perceived behavioral control predict business success amongst NA business owners. Understanding the factors that contribute to NA business success is imperative to developing best practices for business owners and business support agencies. The theory of planned behavior served as the theoretical framework for this study. Of the 550 invited NA business owners registered within a single tribe in the South Central United States, 79 participated in this study. A binary logistic regression analysis produced conflicting results: significant goodness-of-fit yet insignificant individual predictors. Information obtained from this study could assist NA and other underdeveloped business populations with understanding factors influencing entrepreneurial endeavors; however, readers must interpret findings with caution because of conflicting logistic regression results. NA business formation and success could enhance economic prosperity and decrease unemployment in NA communities.
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Florincuţa, Roxandra Giorgiana, and Pornuma Thongsawai. "Support for Small Business and its perceived influence on project success : A study of projects of small businesses in a Swedish Science Park." Thesis, Umeå universitet, Handelshögskolan vid Umeå universitet, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-31146.
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Enterprises of any size need to face different challenges which might be specific to their environment or their structure. Therefore, to overcome these barriers each company owner needs to take into consideration suitable ways through which the available and potential resources can be best use in dealing with the business context. Issues like, market breakthrough and acceptance, competition, economic environment, can prove to be critical for a small business which bases its activities on innovation type of services and products. By studding the specific context of small businesses with an entrepreneurial and innovative character, we try to address in this thesis one of the particular ways through which these type of companies can face challenges within their environment: by involving different categories of external support in their projects and business activities. While the need for capital, information and co-operation is growing along with the small business development, we also have chosen to focus our attention on three types of support infrastructures: finance, information and network. Then, each of these support aspects is analysed in connection with project critical success factors in order to establish a certain relevance that external assistance can have on project success. The case studies are based on five small companies within a Swedish incubator in the region of Västerbotten county. As for our study we consider governmental agencies, universities and Science Parks, as three representative support agents, we decided to take closely analyse one of them, and so we looked at the policies and environment of the incubator which hosts the five small companies. And so, Uminova Innovation and its incubator, which are part of Uminova Science Park, could be considered as the overall case study framework. Then, the outcomes of this thesis highlight the perceived influence of the three support infrastructures: finance, information and networks on the business projects, activities and processes. Although the particular business characteristics have their own impact when it comes to the types of support each studied company choose to approach, a general link has been noticed between a certain type of business activities or plans and the involved support. As this study brings up particular matters which engage both small business and the business support agents, we believe that the outcomes of the analysis and the broad theoretical framework would be a suitable reference for practitioners of support policies as well as for small business owners. Therefore, the actions and policies of these actors can be further developed by taking in consideration the critical success factors which have a direct implication in enhancing a particular support that further can contribute to project success.
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Krog, Naomi Maria. "Identifying financial success factors for SMMEs in the Eastern Cape." Thesis, Nelson Mandela Metropolitan University, 2007. http://hdl.handle.net/10948/792.
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In March 1995, the South African government formulated the White Paper for the development and promotion of small business in South Africa to foster an environment in which small and medium enterprises could operate. SMMEs play an important role in job creation in South Africa. The survival of SMMEs is reliant on the abilities of the entrepreneur to succeed. An entrepreneur’s abilities and knowledge plays a very important role in the assessing process when applying for finance. There are various financial institutions in South Africa that have different criteria and turnover requirements to assess such applications. Financial institutions include banks, funds and privately owned institutions. The purpose of this study was to identify the financial success factors for SMMEs in the Eastern Cape. During the study, 32 success factors were identified. The most important factors amongst these include financials, knowledge of management, competition / market, past conduct of banking account, source of repayment, purpose, business ability / product, collateral, capital and industry risk / knowledge. These findings resulted in the various recommendations, as well as suggestions for further research opportunities.