The Schumpeterian Model for Small Business Growth: The Case Study of the African Retail Store Markets
At least half of small American retail companies fail to survive during their first five years. The authors of this multiple case study explored strategies that successful small African retail store market managers used for their business growth and sustainability over their five years in the local markets. Data were collected using face-to-face open interview questions with ten participants who were successful top small African retail store business managers in the DMV (Washington DC, Maryland, and Virginia) area of the United States of America. Based on the Schumpeterian model of innovation theory, the authors of this study found three useful strategies that led to increased growth, promoted sustainability, and prevented failure within the first five years in business. The three primary strategies were the determination and desire to do business, market development, and technology innovation.
Keywords: Schumpeterian model, business growth, promoting sustainability, small African retail store
