Exploring Small Business Strategies in Halifax, Nova Scotia

Exploring Small Business Strategies in Halifax, Nova Scotia by Oluwatoyin Oluremi Akindoju MBA, Saint Mary’s University, Halifax, 2007 HND, Lagos State Polytechnic, 1987 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2016 Abstract Small business owners contribute 39% of Canada’s gross domestic product and account for 67% of new jobs created, but only 50% survive beyond the first 5 years of existence. The purpose of this multiple case study was to explore what strategies some small business owners in Halifax, Nova Scotia used to sustain their business operations beyond the first 5 years. The study population consisted of 6 small business owners ofSmall business owners contribute 39% of Canada’s gross domestic product and account for 67% of new jobs created, but only 50% survive beyond the first 5 years of existence. The purpose of this multiple case study was to explore what strategies some small business owners in Halifax, Nova Scotia used to sustain their business operations beyond the first 5 years. The study population consisted of 6 small business owners of professional firms located in Halifax, Nova Scotia who had succeeded in business beyond the first 5 years. The conceptual framework that grounded this study was the systems theory. Data were collected through semistructured interviews, a review of company documents, and archival records. Member checking of interview response data was used to strengthen the credibility of the findings. Based on the methodological triangulation of the data collected and the van Kaam process, themes that emerged after the data analysis were networking, product-advantage, business-centric approach, and human capital. The data and application of the findings from this study may contribute to social change by providing essential strategies for small business owners to ensure business success that could potentially lead to the prosperity of the community and Halifax economy. Exploring Small Business Strategies in Halifax, Nova Scotia by Oluwatoyin Oluremi Akindoju MBA, Saint Mary’s University, Halifax, 2007 HND, Lagos State Polytechnic, 1987 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2016 Dedication With God, nothing shall be impossible! I dedicate this doctoral study to the Holy Spirit, who has been my greatest teacher. To my husband, Yemi, for your love, encouragement, and unyielding support to make a dream a reality. To my children, Korede, Sope, and Teni, for your unconditional love. To my late parents, Chief Aderemi Ijaola Oyebanji and Mrs. Iyabode Adunni Oyebanji, who instilled the work ethic that prepared me for this journey and taught me that hard work pays off. Acknowledgments Thank you my Lord and savior Jesus Christ, for seeing me through this journey. I would like to thank my chair, Dr. Ify Diala, for providing support and exceptional guidance during this process. Sincere thanks to Dr. Mohamad Hammoud and Dr. Frederick Nwosu; without your invaluable recommendations, I definitely could not have completed this journey. I would like to send special thanks to my husband and children: Yemi, Korede, Sope, and Teni. Without your sacrifice of family time and allowing me to miss your games and other events, I would not have completed this work. I owe you guys a lot. Special thanks to my peers, Dr. Jason Matyus, Shona Dobson, and Kevin Williams for your support, assistance, and encouraging words. I want to recognize the unconditional support of Dr. Kola Oyebanji, Pastor Kunle & Bolaji Akindoju, Dr. Wale Babalakin, Arch. Tayo Babalakin, Rakesh Jain, and Kim Sherrard. In addition, thank you The Taiwos, Biola Olowude, Biodun Akinwande, Atinuke Adeoye, and other family and friends for your prayers and encouraging words. Finally, I would like to thank the small business owners who participated in my doctoral study. I really appreciate your willingness, open dialogue, and commitment to excellence. Your contributions to this study were priceless.