Draft Doctoral Study Proposal Research Proposal Sample
There are over four million registered small businesses that are owned by people from minority communities in the United States of America. Since 2007, these businesses have provided employment opportunities for over 4.5 million people. Additionally, the small businesses owned by people from minority communities have generated over 660 billion dollars in terms of revenue (Minority Business Development Agency, 2010). Many of the studies on entrepreneurship focus on the success of businesses even though little information of business failure exists (Arasti & Zandi, 2010). By inference, an individual’s knowledge on entrepreneurship is incomplete if it lacks the acknowledgment of business failure (Arasti, 2011). Until there is a clear understanding of the factors that result in business failure, the general understanding of concepts on entrepreneurship is not complete (Arasti, Zandi & Talebi, 2012).
Hook: More than half of startup small businesses fail before the first year of operation is over Meek, A. (2015, 01).
Anchor: Statistics are abounding regarding the failure rates of businesses. This is especially the case for small businesses, particularly those owned by people from minority communities. Engel (2013) reported that 50% to 70% of new businesses fail before eighteen months after they are initiated.
General business problem: By starting a new business, owners assume particular risks. Some individuals often embark on small business initiatives without adequate preparation and/or information and the business fails. Due to the lack of preparation and information, they are not able to navigate the challenges that small business owners from minority communities face.
The specific business problem: Some small business owners lack the necessary information to succeed in business beyond 5 years. Weltman (2007) opined that the biggest hurdle for small businesses owned by people from minority communities is the access to capital. However, even with the high failure rate and the difficulties in acquiring credit, soma small businesses owned by people from minority communities have still found success. What strategies do these businesses employ in order to succeed past five years? (Hillman, 2001).
The aim of this qualitative multiple-case study is to explore the strategies that the owners of small businesses required in order for their businesses to success past the first five years of operation (Bosma et al., 2004). The population of this study will comprise of three owners of small businesses, a day care business, a mechanic shop and a car dealership, which are located in New York City, New York State. These three businesses have nurtured their businesses to success, and have operated successfully past the first five years.
Central Research Question
The following is the central research question for this study:
What strategies do small business owners need to succeed in business beyond 5 years?
The gestation of a startup business is influenced by numerous factors. The conceptual framework below shows the interplay of these factors (Greene & Owen, 2004).
Significance of the Study
The results of this study are very significant to the business world. It is important for small businesses to understand the strategies they need in order to ensure that their businesses thrive well and operate past the first five months. Additionally, the data that is collected from this study may contribute to changes in the society by contributing to the success of existing businesses and inspiring other people to start their businesses (Franco & Haase, 2009). The theories derived from this study will also provide insights into the strategies necessary to build resiliency in startup businesses, thereby ensuring their success past the first five years of operation. An understanding of the strategies required to ensure the success of new businesses will provide essential information to key stakeholders in venture financiers, entrepreneurs in new ventures and government policymakers (Liao, Welsch & Moutray, 2009).
Arasti, Z. (2011). An empirical study on the causes of business failure in Iranian context. African journal of Business Management, 5(17), 7488-7498.
Arasti, Z., & Zandi, F. (2010). Causes of business failure: dose gender matter? Proceeding of the first International Conference on Entrepreneurship. Tehran, Iran.
Arasti, Z., Zandi, F. & Talebi, K. (2012). Exploring the Effect of Individual Factors on Business Failure in Iranian New Established Small Businesses. International Business Research. 5(4). 2-12
Berman-Rubera, S. (2012). 100 Tips to Small Business Results: Tips and Case Studies to Grow Business Owners and Propel Revenue. Bloomington, IN: Author House.
Bosma, N., Acs, Z. J., Autio, E., Coduras, A., & Levie, J. (2009). Global Entrepreneurship Monitor Executive Report,29(16).
Bosma, N., Van Praag, M., Thurik, R., & de Wit, G. (2004). The value of human and social capital investments for the business performance of startups. Small Business Economics, 23(3), 227-236.
Dana, L. P. (2007). Handbook of research on ethnic minority entrepreneurship: A co- evolutionary view on resource management. Cheltenham, UK: Edward Elgar.
Engel, P. (2013). Small Business Owners Don't Fear The Devastatingly High Failure Rate. Retrieved 22 Jan. 2015 from http://www.businessinsider.com/small-business-owners-are- optimistic-2013-6
Franco, F., & Haase, H. (2009). Failure factors in small and medium-sized enterprises, qualitative study from an attributional perspective. International Entrepreneurship Management Journal, 6(4).
Greene, P. & Owen, M. (2004). Race and ethnicity. Handbook of entrepreneurial dynamics. Retrieved 22 Jan. 2015 from http://www.sagepub.com/upm-data/5007_Gartner_Chapter _3.pdf
Hillman, R. (2001). Small business: Efforts to facilitate equity capital formation. Collingdale. Diane Publishing.
Liao, J., Welsch, H., & Moutray, C. H. (2009). Start-up resources and entrepreneurial discontinuance the case of nascent entrepreneurs. Journal of Small Business Strategy, 19(2), 1-15.
Meek, A. (2015, 01). Minority-owned businesses still face challenges. Retrieved 22 Jan. 2015 from http://www.memphisdailynews.com/editorial/ArticleEmail.aspx?id=28797
Minority Business Development Agency. (2010). Access to capital is still a challenge for minority business enterprises . Retrieved 22 Jan. 2015 from http://www.mbda.gov/ node/357
Tirrell, R. (2009). The wisdom of resilience builders: How our best leaders create the world's most enduring enterprises. Bloomington, IN: Author House.
Weltman, B. (2007). The rational guide to building small business credit. Rollinsford, NH, USA: Rational Press.
Williams, I. (2008). Strategic Planning in Small Businesses: A Phenomenological Study Investigating the Role, Challenges, and Best Practices of Strategic Planning. Ann Arbor. ProQuest
Important:Substantive feedback is scritical success.Your instructor will enter your score in the rubric. You will be able to map your score for each application criterion directly to the application. Your instructor is required to give you embedded feedback for any areas where you did not receive full credit! Please contact your instructor regarding “any” criterion area where you were deducted points and there was no embedded feedback for that area in the application assignment portion of the document.
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