EXPLORING THE SURVIVAL STRATEGIES FOR SMALL BUSINESS OWNERSHIP IN NIGERIA

Notwithstanding the unstable nature of Nigeria economy small business owners created approximately 32 million jobs and contribute almost 45% to the nations GDP. However, startup small businesses fail at rate over 80% the first five years. Guide by theory of constraints, the purpose of this qualitative multiple-case study was to explore survival strategies required by some small business owners to sustain business in Nigeria beyond 5 years. Data collection was through semi-structured interviews with 3 owners with up to 5 years of experience in small business management from 3 different regions of Nigeria. The 3 major themes from final data analysis were cost efficiency, informal crediting and aggressive marketing which participants said were crucial for business survival. Data analysis also revealed two critical constraints confronted by small business owners as Government Policy and capital constraints. Findings of this study contribute to social change by indicating some strategies which prospective and existing small business practitioners may use to sustain for survival beyond first five years. The findings may prove useful for small business programs and training schedules to practitioners, managers and owners.

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Micro & Small Enterprises in Ireland: A Brand Management Perspective

Business and Economic Research ◽

10.5296/ber.v6i1.9460 ◽

2016 ◽

Vol 6 (1) ◽

pp. 381

Author(s):

Bobby Kennedy ◽

Angela Wright

Keyword(s):

Small Business ◽

Small Businesses ◽

Brand Management ◽

Business Owners ◽

Product Line ◽

Small Business Owners ◽

Small Enterprises ◽

Structured Interviews ◽

Brand Development ◽

Management Perspective

Branding aids companies in the acquisition of new customers, allows them to build a favourable reputation, leads to increased customer loyalty and, ultimately, is a driver of profitability. Although there is an impressive quantity of academic literature related to both large corporate and product line branding, there has been less focus regarding the research on branding of small businesses, despite their economic importance. In the specific case of SMEs in Ireland, branding studies are scant. There is little understanding of the branding practices of SME founder-owners in Ireland, and, moreover, a lack of clarity as to their knowledge levels apropos the strategic brand management process. Essentially, many small business owners may not even realise that their business is a brand, partly due to a lack of understanding of what the concepts of a brand and branding actually mean. This paper presents findings from research associated with the brand development practices of Irish micro and small enterprises. A qualitative data collection tool, leveraging semi-structured interviews is employed to collect substantive and relevant data from 10 Irish micro and small business owners. The study extends the knowledge of the brand development process being undertaken by these companies. The findings in this study reveal an unfavourable picture in terms of branding practices in Irish SME’s and demonstrates a lack of understanding and devotion on behalf of founder-owners towards the process. These conclusions have direct implications for branding literature, specifically in relation to Irish and international SMEs and also for managerial practice within those organisations.

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Regional small businesses’ personal and inter-firm networks

Journal of Business and Industrial Marketing ◽

10.1108/jbim-09-2019-0432 ◽

2020 ◽

Vol 35 (12) ◽

pp. 1957-1969 ◽

Cited By ~ 2

Author(s):

Jalleh Sharafizad ◽

Kerry Brown

Keyword(s):

Small Business ◽

Small Businesses ◽

Business Owners ◽

Personal Networks ◽

Future Research ◽

Small Business Owners ◽

Business Networks ◽

Structured Interviews ◽

Content Type ◽

Firm Networks

Purpose The purpose of this paper is to examine the role of personal and inter-firm networks and the elements that contribute to the formation and management of these networks for regional small businesses. Design/methodology/approach Semi-structured interviews were conducted with 20 small business owners located in regional areas. Findings The findings highlight key characteristics of regional small business owners’ networks. Findings indicated that participants relied strongly on their personal networks for business purposes. This study shows that while personal networks adapted and changed into informal inter-firm networks, weak-tie relations within inter-firm networks were unlikely to develop into close personal networks. Novel findings also include a preference for “regional interactions” and included regular collaboration with local business competitors. Although the participants used social media to manage their business through personal networks, results confirmed there was a lack of awareness of the benefits of inter-firm networks with businesses outside the local region. Originality/value While it is acknowledged small business owners use personal and inter-firm connections to maintain and grow their business, there is a lack of research examining both of these networks in the same study. This research addresses this gap and presents five propositions as a useful direction for future research. This paper adds to the evolution of existing knowledge by expanding understanding of the formation of business networks and conditions of business trust relations within a regional context.

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Small Business Startup Funding for Youth Employment in Nigeria

Journal of Business Theory and Practice ◽

10.22158/jbtp.v7n1p35 ◽

2019 ◽

Vol 7 (1) ◽

pp. 35

Author(s):

Dr. Nana A. Akaeze ◽

Dr. Christian O. Akaeze

Keyword(s):

Small Business ◽

Small Businesses ◽

Business Owners ◽

Social Progress ◽

Support Programs ◽

Small Business Owners ◽

Structured Interviews ◽

Youth Leaders ◽

Business Startup ◽

Unemployed Youth

Jobs are generated by initiating and growing small businesses within underdeveloped economies. Unemployment among youths is a critical problem confronting Nigeria (Nwogwugwu & Irechukwu, 2015). Unemployment leads to less growth and a drop-in consumer spending. Increased unemployment generates lowered business output. Unemployment results in welfare loss from lowered output, income, and wellbeing which hinder social progress of nations. Nevertheless, unemployed youths with small business initiatives experience financial constraints and lack access to startup capitals. The purpose of this study was to explore experiences of some owners who succeeded despite lack of access to formal and informal sources of initial capitals. Data was collected through semi-structured interviews with 15 small business owners in Lagos who started as unemployed youths. We purposefully selected participants, used thematic for data analysis, NVivo 10 software for coding and interpretation. Findings revealed 3 critical challenges to access initial capitals for startups by unemployed youths including: (a) inability to provide collaterals, (b) Reliance on insufficient private finance and short term overdrafts, and (c) bureaucracy. Result may become basis for future interventions and support programs. Authorities and youth leaders could use information for trainings and support programs to help unemployed youth access startup capitals for small business.

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EVIDENCE FROM THE IMPACT OF COVID-19 ON SMALL BUSINESS

SERIES V - ECONOMIC SCIENCES ◽

10.31926/but.es.2021.14.63.1.10 ◽

2021 ◽

Vol 14(63) (1) ◽

pp. 103-110

Author(s):

Nicoleta Gianina BOSTAN MOTOAŞCĂ

Keyword(s):

Qualitative Study ◽

Small Business ◽

Small Businesses ◽

Emotional State ◽

Business Environment ◽

Business Owners ◽

Small Business Owners ◽

Structured Interviews ◽

Starting Point ◽

The Impact

The Covid-19 pandemic has affected both individuals and the business environment in a profound and unexpected way. The restrictions imposed and the economic crises caused by them have led to the closure of some businesses, especially small businesses. The present research aims to study the opinions, perceptions, behaviour, and attitude of administrators, of small-business owners towards the impact of the pandemic in order to outline their emotional state and the sample of future needs. The qualitative study illustrates the combined analysis of the results of the answers of sixteen structured interviews, in-depth phone interviews. This research could represent the starting point of a more extensive research in this field

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Measuring Success in Family Businesses: The Concept of Configurational Fit

Family Business Review ◽

10.1111/j.1741-6248.2006.00061.x ◽

2006 ◽

Vol 19 (2) ◽

pp. 115-134 ◽

Cited By ~ 28

Author(s):

Christoph Hienerth ◽

Alexander Kessler

Keyword(s):

Small Business ◽

Small Businesses ◽

Business Owners ◽

Border Region ◽

Small Business Owners ◽

Comparable Data ◽

Measurement Instruments ◽

Success Measurement ◽

Success Evaluation ◽

As Effects

The problems associated with measuring success in small businesses are primarily caused by a lack of comparable data due to the ambiguity of “success” and by subjective biases. Success evaluation is dominated by the estimates of business owners, who tend to overestimate overall success and internal strengths. However, reliable success measurement instruments would be useful for small business owners/managers as well as small business policymakers. The main purposes of this article are to compare various measures of success, to explore the differences in their outcomes, and to analyze whether a model of success measurement using configurational fit can be used to overcome subjective biases. The study is based on a recent survey of 103 small family-owned businesses in the eastern Austrian border region. Our analysis of the data confirmed the existence of the measurement problems mentioned above. Although some individual indicators show significant biases as well as effects due to company age, size, and industry, the aggregated indicator based on the concept of configurational fit seems to be an appropriate means of overcoming most of these drawbacks.

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Small Business Stories: Surviving and Thriving Amidst the Pandemic

10.46712/covid.stories ◽

2021 ◽

Author(s):

Jamie McCall ◽

Khaliid Scott ◽

Urmi Bhatt

Keyword(s):

Social Capital ◽

Small Business ◽

Business Owners ◽

Business Community ◽

Small Business Owners ◽

Structured Interviews ◽

Entrepreneurial Spirit ◽

Aid Programs

The COVID-19 pandemic will leave an enduring mark on North Carolina’s small business community. Using a phenomenological framework, we conducted a series of in-depth semi-structured interviews with small business owners about how they addressed the pandemic’s challenges. Four central themes emerged that illustrate the complexity and nuance of small business resiliency. Our data suggest that to survive and thrive, entrepreneurs had to: (1) be adaptable and willing to pivot, (2) have an entrepreneurial spirit, (3) leverage their social capital, and (4) have the knowledge and ability to apply for aid programs.

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Economic Contributions and Challenges of Immigrant Entrepreneurs to Their Host Country – Case of African Immigrants in Auckland, New Zealand

Journal of Business Administration Research ◽

10.5430/jbar.v6n1p25 ◽

2017 ◽

Vol 6 (1) ◽

pp. 25

Author(s):

Olufemi Muibi Omisakin

Keyword(s):

New Zealand ◽

Small Business ◽

Host Country ◽

Sampling Technique ◽

Business Owners ◽

Small Business Owners ◽

Structured Interviews ◽

Immigrant Entrepreneurship ◽

Immigrant Entrepreneurs ◽

Definition Of

Entrepreneurship is an important concept in both developing and developed societies today. Although there is no consensus on the definition of entrepreneurship, it is believed to be a process of creating value by bringing together a unique package of resources to exploit entrepreneurship opportunities (Morris, 2002). This study aims to discover the economic contributions and challenges of immigrant entrepreneurs to their host country, and focuses on African small business owners in Auckland, New Zealand. Literature on immigrant entrepreneurship was reviewed, resulting in a discussion of the economic contributions of immigrant entrepreneurship as well as its challenges. Data was collected using face-to-face, semi-structured interviews, observation and field notes as the sources of inquiry. A purposive sampling technique was used to select 17 participants. All participants were African immigrant small business owners running businesses in Auckland. Thematic analysis was used to analyse the data collected (Braun & Clarke, 2006).

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The perception of sponsorship usefulness among South African small business owners

Corporate Ownership and Control ◽

10.22495/cocv11i4c5p6 ◽

2014 ◽

Vol 11 (4) ◽

pp. 475-488

Author(s):

Catherine Mpolokeng Sephapo ◽

Johannes Arnoldus Wiid ◽

Michael Colin Cant

Keyword(s):

South Africa ◽

Small Business ◽

South African ◽

Small Businesses ◽

Brand Image ◽

Business Owners ◽

Small Business Owners ◽

Web Based ◽

Marketing Tool ◽

Marketing Budgets

Sponsorship is a powerful marketing tool that organisations in South Africa are embracing. From the evaluation of the sponsorship growth over the years, the industry in South Africa has developed from a R63 million industry in 1985 to the value of just under R7 billion in 2011 (City Press, 2012). Small businesses in South Africa are faced with the challenge of effectively reaching target segments. These small businesses are restricted in terms of limited marketing budgets and therefore need alternative ways of improving their brands in the eyes of the consumer. Theoretically, sponsorship is considered to improve the brand image of an organisation and ultimately improve sales. However, the question that this study aims to answer is whether small business owners perceive sponsorship to be a useful tool that even they can utilise. The study made use of a quantitative approach whereby a web-based questionnaire was distributed to small business owners. The findings indicated that the general attitude towards sponsorship as a marketing tool is positive. The correlation between sponsor sincerity and sponsorship usefulness was found positive; however, average in strength. Although sponsorship is seen as a useful tool, 15.4% of the respondents indicated that they would not consider using this marketing tool. This response may provide an opportunity for further research to be conducted which may shed some light on the strategies small business owners perceive to be most effective for their unique circumstances

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Growth and Development of Small Business Through Microfinance Activities in Nepal

Interdisciplinary Journal of Management and Social Sciences ◽

10.3126/ijmss.v1i1.34508 ◽

2020 ◽

Vol 1 (1) ◽

pp. 26-34

Author(s):

Chandra Prasad Dhakal

Keyword(s):

Small Business ◽

Financial Services ◽

Small Businesses ◽

Growth And Development ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Business Owners ◽

Small Business Owners ◽

Microfinance Institutions ◽

Economic Activities

Small businesses play important role for economic development and stability. It develops access in financial services through enhancing economic activities. The study analyzes the growth and development of small businesses that enhance through the support of micro finance in Nepal. Descriptive and inferential were used to collected data and collected data were analyzed through using multiple linear regression analysis. Only 124 small business owners were selected for this study. The study helps to find out the growth of microfinance institutions (MFIs) and small businesses in emerging economy in Nepal. It also assists MFIs to assess the effectiveness of their services and help to efficient utilization of available resources in the economy of Nepal.

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Introduction

Sovereign Entrepreneurs ◽

10.5149/northcarolina/9781469648590.003.0001 ◽

2019 ◽

pp. 1-20

Author(s):

Courtney Lewis

Keyword(s):

Small Business ◽

Small Businesses ◽

Structural Adjustment ◽

Business Owners ◽

Small Business Owners ◽

Economic Stability ◽

The Great Recession ◽

Justice Movements ◽

The Impact

This introduction describes how encouraging a diversity of small businesses can help support a Native Nation’s long-term economic stability, but goes further to demonstrate this uniquely through the eyes of the small-business owners themselves along with an in-depth examination of their local, national, and international contexts. In doing so, it describes how this book also addresses the ways in which Native Nations, by supporting small business resilience, are responding in politically and socioeconomically meaningful ways to settler-colonial economic subjugations. This introduction further describes how the book unpacks the layers of small-business complications specific to Native Nations and American Indian business owners while speaking to larger theoretical questions regarding the impact of small businesses in a global indigenous context. Debates regarding economic sovereignty versus economic power, measures of autonomy, land status, economic identity, fluctuating relationships with settler-colonial society, and the growth of neoliberalism (along with its accompanying “structural adjustment” policies) meet with specific practices, such as the implementation of guaranteed annual incomes, cultural revitalization actions, environmental justice movements, and the potentially precarious choices of economic development—issues that are exacerbated during times of economic precarity, such as the Great Recession.

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