Date of Conferral

9-26-2025

Degree

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

School

Management

Advisor

Beverly Muhammad

Abstract

Although minority small business owners have a substantial influence on the U.S. economy, they often face significant financial obstacles. Minority small business owners are concerned with the history of unfair lending practices in the United States, as access to adequate capital is crucial to achieving business success. Grounded in Donaldson’s pecking order theory, the purpose of this qualitative pragmatic inquiry was to explore effective financial strategies that some minority small business owners used to sustain their businesses. The project participants were six minority small business leaders who had more than 5 years of experience from various industries in South Florida. Data were collected using semistructured interviews, a review of documentation provided by the small business owners, and data available from their public websites. Through thematic analysis, five key themes were identified: (a) internal financial strategies, (b) small business sustainability, (c) customer service, (d) experience in the industry, and (e) financial lending. One key recommendation for minority small business owners is to establish a relationship with a local bank so that the bank staff can become familiar with the business and increase future opportunities for loan approval. The implications for positive social change include the potential for small business owners to strengthen the local economy by creating jobs and providing essential products and services to the community.

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