Date of Conferral



Doctor of Business Administration (D.B.A.)


Business Administration


Gwendolyn Dooley


Women-owned small businesses contribute significantly to the U.S. economy, accounting for 55% of all new ventures; however, women entrepreneurs receive only 2% in external financing. The growth of small businesses is contingent on business owners receiving adequate financing. Business leaders should consider how obstacles, such as lack of motivation, impede the pursuit of external financing. Grounded in Vroom's expectancy theory of motivation, the purpose of this correlational study was to analyze the relationships among valence, instrumentality, expectancy, and the desire to seek business financing. The study included women small business owners in the United States. Data were collected from a random sample of 71 small business owners using surveys and analyzed using multiple regression analysis. Results of the regression analysis indicated a statistically significant positive relationship between expectancy and the desire to seek business financing, F(1, 69) = 4.636, p = .035 < .05, R2 = .063. No statistically significant correlation existed between valence (p = .609) or instrumentality (p = .86) and desire to seek business financing. Women small business owners influence social and economic transformation in their communities by providing jobs, goods, and services. More than half of the 9.5 million jobs projected in 2018 will be provided by women-owned businesses. The findings of this study may provide women entrepreneurs with information that leads them to understand how to increase the 2% rate of external financing. The social change implications include increased job opportunities for members of the communities in which the businesses operate.