Affiliation:
1. Walden University, USA
2. The Florida Institute of Technology, USA
Abstract
Small businesses produce near 50% of the gross domestic product and are responsible for over 6 out of 10 new jobs. These numbers point to the importance of small business ownership and leadership is important in the US economy. In 2020, there are 124,004 African-American-owned businesses in the U.S. In spite of these numbers, African-American-owned small businesses face tremendous challenges. This exploratory qualitative study examines U.S. African-American small business owners' leadership perspectives around business development, sustainability, and succession transition.
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