Date of Conferral
Doctor of Business Administration (D.B.A.)
Lack of access to capital for many small businesses in the Midwest often leads to business failure and higher unemployment. Small business owners who lack access to capital are at higher risk of failure. Grounded in the trade credit theory, the purpose of this qualitative multiple case study was to explore financing strategies for small businesses owners to maximize profitability and competitive advantage. The participants comprised 10 small business owners in the Midwest who effectively used financing strategies to maximize profitability and competitive advantage. Data were collected from semistructured interviews and company social media platforms. Thematic analysis was used to analyze the data, and three themes emerged: financial strategies, management strategies, and communication strategies. The key recommendation is for small business owners to use supplier credit and other nontraditional sources of capital to initially fund their working capital and investment needs to avoid bankruptcy and increase profitability. The implications for positive social change include the potential for small business owners to create jobs and support the economic development of their communities.
Agboh, Yao Pierre, "Small Business Owners’ Strategies for Accessing Capital and Improving Financial Performance" (2021). Walden Dissertations and Doctoral Studies. 10876.