Date of Conferral

12-30-2025

Date of Award

December 2025

Degree

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

School

Management

Advisor

Dr. Charlie Shao

Abstract

Entrepreneurial funding remains a persistent challenge for U.S. business owners, particularly as firms navigate demographic shifts and post-COVID-19 pandemic economic conditions. This challenge is important to entrepreneurs, investors, and lenders who rely on access to capital to support business development and economic growth. Grounded in Hersey and Blanchard’s situational leadership theory, the purpose of this quantitative, ex post facto study was to examine the relationship between gender of owner, age of firm, effect of COVID-19, and entrepreneurial funding. Data were collected from 309 U.S. employer firms drawn from a national small business credit survey. A binomial logistic regression analysis was conducted to examine whether the predictors significantly contributed to the likelihood of receiving funding. The overall model was statistically significant, χ²(4) = 72.81, p < .001, and accounted for 33.7% of the variance in funding outcomes. The age of the firm emerged as a significant predictor of funding, p < .001, whereas the gender of the owner and the effect of COVID-19 were not significant predictors, p > .05. A key recommendation is that entrepreneurs and investors consider firm longevity as a predictor when developing funding strategies. The implications for positive social change include the potential for entrepreneurs, lenders, and investors to use evidence-based insights to strengthen funding practices, enhance equitable access to capital, and support sustainable business growth that improves the availability of goods and services to consumers.

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