Success Strategies for Small Business Owners in Philadelphia, Pennsylvania

Success Strategies for Small Business Owners in Philadelphia, Pennsylvania by Marcellinus Madu MBA, Rosemont College, 2003 BS, St. Joseph’s University, 1998 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University February 2016 Abstract 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.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. Success Strategies for Small Business Owners in Philadelphia, Pennsylvania by Marcellinus Madu MBA, Rosemont College, 2003 BS, St. Joseph’s University, 1998 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University February 2016 Dedication I thank God for giving me the encouragement and power to overcome all conditions and enormous challenges of this worthwhile voyage. My wife, Roseline Chichi, and two of my sons Semion and Jonathan continuously supported and encouraged me through the challenges of postgraduate school and life. Without their love, endurance, sustenance, and indulgence, this dissertation would never have come to maturity. I am truly thankful for my family, and I dedicate this document to them. In addition, I dedicate this work to my late parents, Semion and Bessey Madu, who loved me unreservedly and whose good examples have taught me to work hard for the things that I seek to achieve. Acknowledgments Fortunately, I performed my doctoral work with a diverse and collaborative group of students at Walden University; therefore, there are many people to thank for their roles in my success. I would first like to thank my chair, Dr. Denise Land, for her guidance and support over the year. She is amazingly structured and a great problem solver; both of these qualities were hugely helpful in moving my project forward. Under her mentorship, I learned the basics of proposal writing; this will be an invaluable tool to have as my career moves forward, and I will remember my time in the class fondly. I also acknowledge my second committee chair member, Dr. Michael Ewald, for his role in helping me successfully achieve the highest level of academia. I acknowledge Dr. Brenda Jack (university research reviewer), for supporting me with an exceedingly fast turnaround. I would also like to thank my colleague and study friend, Dr. Marie Bakari for her unwavering support, and finally, my best friend Miss Iris Hernandez for her lovely and longtime support of the Madu family.