Date of Conferral

6-26-2025

Degree

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

School

Business Administration

Advisor

Wen-Wen Chien

Abstract

Minority small business owners (MSBOs) often experience significant challenges in securing business capital, which is critical for sustaining and growing their businesses. MSBOs are concerned with the lack of business capital because it restricts their ability to expand operations, innovate, and generate employment within their communities. The purpose of this qualitative multiple-case study, which was grounded in the financial inclusion theory, was to identify and explore strategies MSBOs employ to secure access to capital. The participants were nine MSBOs in the Southeastern United States, each of whom had successfully maintained and secured working capital to sustain a profitable business for at least 5 years. Data were collected through semistructured interviews and an analysis of business documents. Yin’s five-step thematic analysis process was followed and yielded four key emergent themes: (a) the critical role of financial capital for business sustainability, (b) the connection between capital and business scaling, (c) the complexities of access to capital, and (d) the strategic management of capital. A key recommendation for MSBOs is to establish and maintain a solid business credit score as an essential strategy for securing funding. The implications for positive social change include the potential to support the growth of MSBOs, which in turn may foster job creation, economic growth, and a stronger tax base in local communities.

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