Date of Conferral
Doctor of Business Administration (D.B.A.)
The focus of this case study was to explore the strategies small restaurant business owners used to acquire capital funding to sustain their business through the first 5 years of business. The participants for this study included 4 purposefully selected small restaurateurs in New York State who have been in business for a minimum of 5 years. The conceptual framework for this study was based on the organizational life cycle theory supported by working capital management theory and the liability of newness. Data were collected through semistructured interviews with each restaurant owner, and archived data. The data were analyzed using thematic analysis of the interviews and content analysis of the documents. Five themes emerged that small business owners might benefit in acquiring financing to assist in sustaining the business longer than 5 years. The themes included education, third party auditor, economic conditions, banking track record, and a solid professional team. The results of this research may contribute to social change by identifying strategies needed to be successful in the financing process. The findings of this research may improve upon the knowledge of entrepreneurs and, consequently, strengthen the U.S. economy by educating America's job creators.