Exploring Strategies Microenterprise Owners use to Succeed in Business Beyond 2 Years

摘要

In the United States, microenterprises, critical segment of the small business population, accounts for 110 million small businesses that source new jobs. Despite the increase in the number of created businesses in the USA, more than 70% of microenterprise business owners are unsuccessful after 2 years. The multiple case study included 6 participants living in Houston, Texas, and intended to explore business strategies microenterprise event management owners used to succeed in business beyond 2 years. The conceptual framework that grounded the study was the 5-stage small business growth model and the 5-stage of the evolution of entrepreneurship theory. The data collection process consisted of interviews resulting in transcripts, review of company documents, and interview observations notes. The data analysis process while triangulating the data consisted of creating thematic codes, and clustering keywords, and ideas from the data. Development of visual aids assisted with organizing information, synthesizing, and generating new ideas. Text, word, and matrix coding queries were conducted and summarized for a cross-case analysis as relating to the interview questions. Thematic analysis and cross-case analysis revealed 3 major themes: customer relationship management, education/work experience, and promotional activities. Implications for social change include encouraging entrepreneurial and small business development programs to develop innovative curriculums that microenterprise business owners may benefit from to increase more business opportunities. An increase in microenterprises may help provide more employment opportunities that meet the needs of local communities and improve socioeconomic conditions.