Sustainability of Small Businesses in Zimbabwe During the First 5 Years

Small businesses in Zimbabwe make up 94% of the country\u27s business population but only contribute 15% to the country\u27s economy due to a high failure rate during the first 5 years. The purpose of this descriptive multiple case study was to explore strategies and skills that may contribute to the sustainability of small businesses during the first 5 years. The study population consisted of 5 small business owners in Ntepe village in Zimbabwe who had sustained their businesses for the first 5 years of operations. The conceptual framework that grounded this study was management theory. The data collection process involved conducting semistructured interviews with small business owners. Data analysis involved the adoption of methodological triangulation, thematic analysis, and member checking to ensure reliability and credibility of the data collected. The data collected presented two main themes: developing leadership skills and planning for positive performance. Key attributes and skills of a small business leader include trustworthiness, ability to lead resolutions that solve problems, effective communication of quality expectations, development of customer focus, and ability to address the needs of employees. Planning for positive performance includes goal setting, creating policies and procedures, and developing a control system for financial activities. This study may contribute to social change by providing data on proven strategies used by small business managers to sustain their businesses during the first 5 years of operations. The community may benefit from owners being better prepared to sustain their small businesses, given that these businesses may then hire employees and contribute to the local economy

Small Business Owners Strategies in the Retail Grocery Sector

In Angola, 96.7% of established small businesses fail. Thus, the purpose of this multiple case study was to explore strategies retail grocery store owners in Angola use to succeed beyond 5 years. The population of the study consisted of 5 retail grocery storeowners who sustained their businesses longer than 5 years in Angola. The conceptual framework for this study was the resource-based view. Face-to-face, semistructured interviews and company documentation review were used to collect data. Yin\u27s 5-phase cycle, which includes (a) compiling, (b) disassembling, (c) reassembling, (d) interpreting, and (e) concluding, was used to find patterns, themes, and categories from the data. Member checking and methodological triangulation were used to ensure credibility. Through thematic analysis, 5 themes emerged: control and monitoring, dedication of the owner, quality staff, regular offer and quality products, and social capital. These themes reflect a common set of strategies that retail grocery storeowners in Angola use to succeed beyond 5 years. The implications for positive social change include the potential to improve the performance of small businesses and reduce business failure rates and unemployment in Angola. Additionally, by sustaining their profitability, small businesses offer a basis for increasing tax revenues, contributing to economic growth of the local economy, and improving people\u27s living standards

Strategies Needed for Small Business Sustainability: A Case Study of Thai Restaurants

According to U.S. Small Business Association, the failure rates for small businesses in 2014 were as high as 50% to 80% within the first 5 years of establishment. Failure rates were especially high among restaurant businesses. The purpose of this study was to explore the strategies that small business owners needed to sustain their businesses beyond the first 5 years. Guided by entrepreneurship theory as the conceptual framework, a case study was conducted with semistructured interviews of 3 successful Thai restaurant owners in Salt Lake City, Utah. Member checking and methodological triangulation with field notes, interview data, company websites, customer comments, and government documents help ensure theoretical saturation and trustworthiness of interpretations. Using precoded themes for the data analysis, the 7 themes from this study were entrepreneur characteristics, education and management skills, marketing strategies and competitive advantages, social networks and human relationships, technology and innovation, government supports and social responsibility, and financial planning. Two key results indicated the strategies that were needed for small business owners were entrepreneur management skills and government support for small businesses. These findings may influence positive social change by improving small business owner efficiency and sustainability, increasing higher business income, providing a better quality of living for employees and the well-being of the community, and benefiting the U.S. economy

Enhancing Existing Disaster Recovery Plans Using Backup Performance Indicators

Companies that perform data backup lose valuable data because they lack reliable data backup or restoration methods. The purpose of this study was to examine the need for a Six Sigma data backup performance indicator tool that clarifies the current state of a data backup method using an intuitive numerical scale. The theoretical framework for the study included backup theory, disaster recovery theory, and Six Sigma theory. The independent variables were implementation of data backup, data backup quality, and data backup confidence. The dependent variable was the need for a data backup performance indicator. An adapted survey instrument that measured an organization\u27s data backup plan, originally administered by Information Week, was used to survey 107 businesses with 15 to 250 employees in the Greater Cincinnati area. The results revealed that 69 out of 107 small businesses did not need a data backup performance indicator and the binary logistic regression model indicated no significant relationship between the dependent and independent variables. The conclusion of the study is that many small businesses have not experienced a disaster and cannot see the importance of a data backup indicator that quantifies recovery potential in case of a disaster. It is recommended that further research is required to determine if this phenomenon is only applicable only to small businesses in the Greater Cincinnati area through comparisons based on business size and location. This study contributes to positive social change through improvement of data backup, which enables organizations to quickly recover from a disaster, thereby saving jobs and contributing to the stability of city, state, and national economies

Total Quality Management Strategies to Sustain Business Beyond 5 Years

Some small business leaders lack total quality management strategies to sustain their business beyond 5 years. Small business leaders are concerned that their businesses will not survive beyond 5 years without total quality management strategies. Grounded in the Deming 14 points model, the purpose of this qualitative multiple case study was to explore strategies small business leaders use to sustain their business beyond 5 years of operation. The participants were five small business leaders from Central Valley, California, who sustained their businesses for more than 5 years. Data were collected through semi-structured interviews and a review of company documents. Thematic analysis was used to analyze the data. Three themes emerged: institute leadership; improve the system of production, service, and communication; and institute a program of education and retraining. A key recommendation is for small business leaders to establish, adopt, and maintain a quality management framework based on Deming’s 14 points to implement quality and productivity improvements to sustain their business beyond 5 years. The implications for positive social change include the potential to sustain small businesses beyond the 5-year mark, contributing to economic growth, employee well-being, and the local economy

Capital Financing Strategies of Small-Scale Contractors in Nigeria

Small-scale contractors in Nigeria, as small business owners, face challenges accessing external sources of capital financing. Inadequate sources of working capital is one of the major reasons for poor business performance and failure. A multiple case study approach was used in this study to explore how small-scale contractors obtained capital financing to grow their businesses. The study population included small-scale contractors in the construction industry in Nigeria. Credit rationing model was chosen as the conceptual framework for the study. Semistructured interviews were used to collect data from 5 participants. Data analysis included thematic coding of the data using qualitative data analysis computer software. The 2 themes that emerged from data analysis were as follows: sources of small-scale contractors\u27 financing and constraints of sourcing small-scale contractors\u27 capital financing. This study could contribute to positive social change by stimulating the local economy through local capital formation, jobs creation, improved tax revenues for local authorities, and enhancement of the quality of life of those living in Nigeria

Strategies for Small Business Survival for Longer Than 5 Years

Small businesses play a key role in the health of the U.S. economy; however, approximately 50% of small businesses fail within the first 5 years of operation. The purpose of this multiple case study was to explore the strategies used by owners of small businesses to sustain their businesses for longer than 5 years. The conceptual framework used was the resource-based theory. The population of this study consisted of 3 owners of small businesses in North Carolina who sustained their businesses for at least 5 years. The data sources included semistructured interviews of the participants as well as business websites, social media pages, and documents. The data analysis process included data cleaning, uploading transcribed interviews into qualitative data analysis software, organizing, and coding. Member checking and triangulation with the data sources helped ensure methodological saturation and trustworthiness of interpretations. The thematic analysis led to the identification of 5 major themes contributing to company sustainability: strategic business planning and financial planning, risk management and cost control strategies, networking and relationship building, innovation and niche marketing, and environmental scanning. The results of further analysis indicated that the 3 strategies needed for success by owners of small businesses were strategic business planning and financial planning, networking and relationship building, and niche marketing. The implications of this study for positive social change include the potential to improve the competence of small business owners and business sustainability, increase small business profit, and provide a better quality of life to employees and better welfare for their communities, benefiting the entire U.S. economy

Success Factors of Entrepreneurship in Emerging Rural Economies

One factor of the leadership stratagem is to account for the core values, operations, and growth of the organization. The purpose of this case study was to ascertain the financial strategies small business leaders incorporate to help ensure growth of small businesses. The conceptual framework of Schumpeter\u27s innovation and entrepreneurship theory and the Grameen model were included to drive the scope and analysis of this study. A purposive sample of 8 leaders from successful small businesses in Islamabad contributed to a focus group session; 4 out of these participants originated from the finance and management department and 4 represented sales and product development departments working in 3 outlets of the firm. Transcript review and member checking were used to support the reliability of the interpretation of participants regarding what they said and meant from their responses. Moreover, company documents were reviewed to triangulate the data. Yin\u27s 5-step data analysis plan was used for the final data analysis. Four major themes surfaced from data analysis: Microfinance, product quality, customer care, and strategic vision. These endorse business leader stratagem and association to their mission, financial strategy, overall business operations, and survival and growth. Product quality is vital to maintain and retain valuable customer for revenue generation. Customer care is emphasized for its importance as an ethical practice and gaining customers confidence. Strategic vision is recognized as the foremost leadership skillset to plan and organize future business strategies effectively, which impacts business growth and longevity. The outcome of this study may contribute to positive social change by enhancing understanding of the leadership strategies that impact the longevity of the business to secure jobs and benefit employees, their families, and the surrounding community

Strategies Used by Military Spouse Small Businesses During a Military Relocation

There are over 615,000 women military spouses and 1,786 known military spouse business owners who relocate every 2 to 3 years to follow their active duty spouse. The research problem addressed was the lack of strategies military spouse small business owners used to sustain their business during a mandatory military relocation. The purpose of this multiple case study was to explore the strategies that 5 women military spouse small business owners, located near Shaw Air Force Base or Fort Jackson, South Carolina, used to sustain their businesses during a relocation. The sampling method used was census sampling. The systems theory was the conceptual framework of this research supported by sustainability theory, strategic management theory, and event system theory. In-depth semistructured interviews and archival documentations (e.g., pamphlets, flyers, websites) were the chosen methods of data collection. A CADQAS software program was used to organize the data and content analysis method was to analyze the data gathered from the interviews and documents. The emergent themes were small businesses, work-life balance, business finance, barrier to business ownership, initiatives to support military spouses, and personal finances quality of life. For the military spouse small business owners or other potential business owners, a simple and accessible method to obtain information and access to government grants could assist the implication for positive social change to create new employment opportunities, growth, and innovation in communities and the economy. Additionally, the results from the study may provide insight and strategies to assist other military spouse business owners or other business owners in sustaining their business when relocating

Facility Location Decision for Global Entrepreneurial Small-to-Medium Enterprises Using Similarity Coefficient-based Clustering Algorithms

Decisions on location selection are critical for the survival of small-to-medium entrepreneurial organizations from the time they are established until later stages of operation and expansion. The selection of location for small and medium entrepreneurial businesses requires a selection strategy that incorporates relevant factors, quantifies these factors and develops a methodology that analyzes data for better decision-making. In the era of globalization where borders have become easier to transcend, many small ventures tend to choose more attractive international markets as a potential location for their operations where they can obtain higher returns on their investment. Thus, significant changes in the location decision process of the small and medium entrepreneurial companies have received great attention in the literature about small firms with global orientation as a response to the international entrepreneurship phenomenon. Therefore, consideration should be given to factors and attributes that reinforce the appeal of the international market to new businesses. These factors and attributes will provide the decision maker with an effective methodology for data analysis that will provide a framework for decision-making in the selection of locations for the entrepreneurial organization. In this research, the most frequent and critical attributes to select the best location for the entrepreneurial firms (globally) are extracted from relevant literature. Then, a similarity-based cluster analysis approach is introduced to quantify these attributes based on the existing data of economic metrics, such as technological advancement, expenditures on education, expenditures on research and development, the quality of the labor force, unemployment rates, domestic competitiveness, etc. Subsequently, the resulting outcomes are used to identify groups of prospective sites that fit the needs of the entrepreneurial firm. Last, the validity of the adopted methodology will be tested via numerical examples