Date of Conferral
Doctor of Business Administration (D.B.A.)
Globally, half of small business owners are unable to sustain business operations beyond first 5 years. Several small microfinance institutions (MFIs) in Ghana collapsed because of the inability of owners to continue operations. Such business failure creates unemployment, subsequently leading to an increase in the poverty rate. The objective of this case study was to explore the strategies that MFI owners use to sustain their businesses for 5 years and beyond in Ghana. The conceptual framework was based on entrepreneurship theory. A purposive sample of 4 MFI owners who sustained their business in Ghana for 5 years, who were identified from a database of microfinance entrepreneurs, participated in semistructured face to face interviews. The owners shared their experiences and views concerning their business. Data from archived documents of participants' companies and interview responses with member checking were analyzed to achieve a methodological triangulation. Four themes emerged from inductive data analysis. These themes focused on education and training, planning, access to finance, and motivation. The findings from this study could lead to positive social change by illuminating the experiences of successful microfinance entrepreneurs. These experiences may inform the work of other small businesses, thereby improving the living standards of families and strengthening community wealth with more tax revenue.