Graduate School of Business


Doctor of Business Administration (DBA)


Richard Fendler


Financial Adversity, Small Business Enterprises, Success, Resiliency, Alabama




Financial adversity experienced by small business enterprises are harmful to the internal cash flows, productivity, and long-term success of the small business. In previous literature a majority of the focus of research is on the causes of small business failure whether it be financial, operational, or other factors. This has led to a gap in the literature on how businesses that experience financial adversity can still be successful and resilient. This correlational quantitative study examined the relationships between financial adversity and small Business Success and resiliency for small businesses in the state of Alabama. The statistical analysis determined that higher levels of financial adversity correlated with lower levels of Business Success. The analysis found evidence of a significant differences between certain industries that the small business operated in and their potential for success and resiliency. Finally, the study was able to identify different business characteristics that were significant predictors of Business Success and resiliency. These predictors include age, race, previous industry experience, financial management literacy, innovation, and level of financial adversity. With these findings small businesses in Alabama will be able to address different characteristics in order to lessen their financial adversity in order to be successful. Small businesses will also be able to take the identified business characteristics and improve on them where needed to increase their likelihood for success and resiliency.

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