Date of Conferral
12-10-2024
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
LeVita Bassett
Abstract
Women-owned small and medium-sized enterprises (SMEs) often face significant challenges in securing funding due to a lack of networks and resources, which limits their access to both traditional and nontraditional financing options. Grounded in the social feminist theory, the purpose of this qualitative pragmatic inquiry was to explore effective strategies women-owned SMEs in the northeastern United States can use to secure financing for startup and daily operations. Participants were seven women who successfully operated small service-based businesses in the northeastern United States, implementing strategies that sustained their businesses for at least two years. Data were collected using semistructured interviews. Through thematic analysis, four themes were identified: assessment and evaluation of financial options, strong networking and building relationships, document preparation and comprehensive business plans, and risks and financial strategy assessment. A key recommendation is for women owning small businesses to assess and evaluate available financial options before choosing one. Implications for positive social change include the potential for female entrepreneurs to adopt the strategies identified in this study, enabling them to overcome financial barriers, enhance business viability, stimulate local economic growth, and create job opportunities.
Recommended Citation
Crumblin, Sharon R., "Effective Strategies for Acquiring Financing for Small Businesses Owned by Women" (2024). Walden Dissertations and Doctoral Studies. 16816.
https://scholarworks.waldenu.edu/dissertations/16816
