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Strategies Used By Small Traditional Retail Business Owners For Sustainability, Linda Ogbah Faas

Walden Dissertations and Doctoral Studies

Small businesses fail at an alarming rate, negatively affecting job creation because small business owners create a major portion of jobs in the United States. In March of 2020, 274,000 businesses failed in the United States, resulting in 76,000 lost jobs. Owners of small traditional retail stores are significantly challenged to avoid financial failure. Grounded in Schumpeter’s entrepreneurship theory, the purpose of this qualitative multiple-case study was to explore strategies owners of small traditional retail stores used to survive beyond the first 5 years of operations. Participants included five owners of small traditional retail stores in Missouri whose businesses survived …