Strategies to Sustain Small Accounting Businesses for Longer Than 5 Years

Strategies to Sustain Small Accounting Businesses for Longer Than 5 Years by John C. Nwabueze MS, Strayer University, 2008 BS, Strayer University, 2005 BS, University of Jos, Nigeria 1986 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2019 Abstract 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.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. Strategies to Sustain Small Accounting Businesses for Longer Than 5 Years by John C. Nwabueze MS, Strayer University, 2008 BS, Strayer University, 2005 BSc, University of Jos, Nigeria, 1986 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University June 2019 Dedication I dedicate this to my late parents, Fidelis and Rose Nwabueze. Thank you both for your unwavering love and all that you did for me. To my wife, Dr. Ife, and my children (the crew), Ashlea, Kayla, and Emily, you guys are the best, thanks for your love and support. To my brothers and sisters, Justina (of blessed memory), Mary (of blessed memory), Kate, Austin, Ann, Vincent, and Dr. Schola, thanks for your inspiration, support, and encouragement. Acknowledgments To God be the glory for this milestone in my life. I am especially grateful to my committee chair, Dr. Ify Diala, for her guidance, mentorship, encouragement, and inspiration. A special thank you to my second committee member, Dr. Sam Atieh, and my University Research Reviewer, Dr. Deborah Nattress, for your feedback, support, and leadership. To the entire DBA faculty and staff, academic advisors, and all my classmates, thank you for your invaluable support in my doctoral journey.