Strategies for Improving African American Women-Owned Small Business and Access to Financial Capital
Date of Conferral
6-7-2024
Date of Award
June 2024
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Theresa Neal
Abstract
African American women entrepreneurs have difficulty accessing financial capital to sustain their businesses. These entrepreneurs are concerned that with little access to financial capital, there will be fewer opportunities for starting and operating a successful business. Grounded in resource-based view theory, the purpose of this qualitative multiple case study was to explore strategies some African American women business owners used to gain access to and secure financial resources to start and sustain the businesses. The participants were four African American women small business owners in various industries who successfully obtained financial capital to start and/or sustain the businesses. Data were collected using semistructured interviews and a review of documents related to the participants’ businesses and relevant to the participants’ decisions regarding strategies used. Through thematic analysis, four themes were identified: (a) self-funding, (b) access to information and resources, (c) the importance of social perception and networking, and (d) overcoming the challenges of being an African American woman small business owner. A key recommendation is for African American women small business owners to consider contacting various types of organizations to begin developing a network to access financial resources. The implications for positive social change include the potential to empower individuals, strengthen communities, foster innovation, and promote inclusivity in successful entrepreneurship.
Recommended Citation
Medley Cleveland, Nokomis, "Strategies for Improving African American Women-Owned Small Business and Access to Financial Capital" (2024). Walden Dissertations and Doctoral Studies. 15925.
https://scholarworks.waldenu.edu/dissertations/15925
