Success Factors for Minority Small Business Sustainability

Success Factors for Minority Small Business Sustainability by Tawny Barnes MS, Walden University, 2012 BS, Wayne State University, 2008 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University March 2019 Abstract 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.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. Success Factors for Minority Small Business Sustainability by Tawny Barnes MS, Walden University, 2012 BS, Wayne State University, 2008 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University March 2019 Dedication I dedicate this study to my parents, Candace Walls and Furman Barnes as well as my aunt, Gwendolyn Sullivan and a host of other family and friends who encouraged me on this journey. With their inspiration, support, and confidence in me, I was able to reach my goals. Acknowledgments I am very thankful for the guidance provided by my chair, Dr. Alexandre Lazo whose patience and direction helped me realize my dreams. His keen eye and attention to detail helped me to refine my thoughts and stay focused. I would also like to thank Dr. Matthew Knight, Dr. Robert Hockin, and Jill Murray for their reassurance and valued feedback throughout the process. I would also like to thank the faculty, staff, and my fellow scholars who have been positive driving forces and a source of motivation in this venture from the beginning.