Date of Conferral

2022

Degree

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

School

Business Administration

Advisor

Jaime J. Klein

Abstract

Incorrect start-up strategies account for the failure of many small-and medium-scale enterprises (SMEs) in the first 5 years of operation. A lack of business owner entrepreneurial skills and enterprise development contributes to the high mortality rate of SMEs, the failure of which is a significant limitation on global economic growth and job creation. Grounded in the resource-based theory, the purpose of this qualitative multiple-case study was to explore strategies five SME confectionary business owners in Lagos, Nigeria, used to sustain their businesses beyond the first 5 years of start-up. The participants were owners of SME confectionary businesses who implemented strategies to ensure long-term sustainability and profitability. The participants engaged in semistructured Zoom interviews and provided internal business documents for analysis. Secondary data were obtained from the Central Bank of Nigeria, Small and Medium Enterprises Development Agency of Nigeria, Standard Organization of Nigeria, and Lagos Chamber of Commerce. Through thematic analysis, five themes were identified: (a) business owners’ skills and knowledge, (b) effective marketing, (c) excellent customer service, (d) sales record and inventory, and (e) employee retention. Key recommendations for small- and medium-scale business owners are to implement continuous learning on marketing and customer service, create sales budgets, carry out proper record keeping, and ensure a positive work environment for employees. The implications for positive social change include the potential for job creation, job security, improved living standards, and an increase in government tax revenue to provide essential amenities for the community.

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