Date of Conferral
2022
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Pamm Kemp
Abstract
Small business owners (SBOs) lack of financial management skills can negatively impact small businesses' profitability and result in business failure. SBO’s limited understanding of financial management skills increases the likelihood of business failure and negatively impacts local and national economies. Grounded in the stakeholder theoretical framework, the purpose of this qualitative multiple case study was to explore strategies SBOs use to improve financial management. Data were collected from five small business owners' successful years of freight business experience in Central Mississippi using semi-structured interviews, annual organizational reports, and member checking. Data were analyzed using Braun and Clarke’s (2006) six-step thematic analysis framework. Three principal themes emerged: (a) financial management, (b) individualized business strategies, and (c) profitability. A key recommendation is for SBOs to attain industry-specific financial knowledge. The implications for positive social change include the potentially increased longevity of small businesses resulting in more sustained revenues, increased local employment, and community tax contribution, which benefit the local and national economies.
Recommended Citation
Jackson, Jonathan, "Improving Financial Management Skills Among Small Business Owners" (2022). Walden Dissertations and Doctoral Studies. 13454.
https://scholarworks.waldenu.edu/dissertations/13454
