Overcoming Small to Medium Business Failure through Leadership Strategies

Abstract

Grounded in the transformational leadership theory, the purpose of this qualitative multiple case study was to explore leadership strategies that have been successful for small to medium urban enterprise (SME) owners in urban areas to sustain their business for more than 5 years. The participants were 3 SME owners in urban areas of southeast Georgia, who have been in business for more than 5 years. Data were collected through semistructured interviews and an analysis of researcher notes along with a review of each SME owner's response to obtain information about successful leadership strategies. A thematic analysis process was used to analyze data; 3 themes emerged: focus on employees through training to improve performance, maintain the business by developing strategies for efficient operations and relate to the industry in which the business is operating. The result of the study indicated key recommendations for SME owners including implementing employee performance training and developing strategic planning. The implications for positive social change have the potential for community enhancement opportunities through sustained employment and the leveraging of goods and services financed by SMEs increased and sustained presence.