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Financial Strategies To Sustain Small Businesses Beyond 5 Years, Sandra Elizabeth Siddons
Financial Strategies To Sustain Small Businesses Beyond 5 Years, Sandra Elizabeth Siddons
Walden Dissertations and Doctoral Studies
Inadequate financial knowledge and planning have frequently led to small business failures. Small business owners (SBOs) who lack financial strategies to sustain their organizations may contribute to the estimated closure of 50% of new small businesses, found frequently occurring within the first 5 years of formation. Grounded in the human capital theory, the purpose of this qualitative multiple case study was to explore financial knowledge and skills SBOs successfully used in support of long-term sustainability. The participants were five SBOs who used financial decision-making strategies to sustain their small business beyond 5 years in Northern Illinois. Upon completion of data …