Evans Nyatigo Ongaga

Failure of Small Businesses Evans Nyatigo Ongaga

Evidently, the high failure rates of small businesses in the United States, and the alarming trend may continue to affect the U. S. economy adversely despite the significance of the small businesses. Approximately 50% of starting small businesses cease operations within the first 5 years. Thus, a need exists to explore the factors that contribute to this trend. In the wake of this necessity, business management exponent, Dr. Evans Nyatigo Ongaga used a qualitative phenomenological intrinsic study to explore the lived experiences of 10 Small Business owner-leaders who experienced failure of small businesses in San Jose, California. Modified van Kaam approach was applied to comprehend the participants' lived experiences concerning the phenomenon of failure of small businesses. The emerging and developing themes replicated the participants' perceptions that an interplay of many factors revealed and discussed in this book result in failure of small businesses. In a nutshell, owner-leaders of small businesses consistently identified and described lack of resources as the primary cause of small business failure, which was attributed to underperformance in leadership.