Date of Conferral
5-15-2024
Date of Award
May 2024
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Beverly Muhammad
Abstract
Small business owners are concerned with financing their organizations to remain operational beyond 5 years, as 50% of small businesses fail before reaching 5 years of operations. Grounded in the pecking order theory, the purpose of this qualitative pragmatic inquiry was to identify and explore financing strategies that six small business restaurant owners in the central Florida area of the United States use to remain operational beyond 5 years. Data were collected using semistructured interviews, public financial and annual reports, archival mission and vision statements, and the local Chamber of Commerce website. Through thematic analysis, three themes were identified: (a) reliance on internal financing, (b) limited use of debt, and (c) the role of equity financing. A key recommendation is for small business restaurant owners to consider setting annual financial growth objectives based on their current financial position to ensure they limit external financial funding needs. The implications for positive social change include the potential for restaurant owners to uplift their socioeconomic status and offer enhanced services to their respective communities
Recommended Citation
Brown, Kenneth Melvin, "Small Business Owners’ Financing Strategies for Remaining Operational Beyond 5 Years" (2024). Walden Dissertations and Doctoral Studies. 15806.
https://scholarworks.waldenu.edu/dissertations/15806
