Small Business Success During 2020/2021

Abstract

Change management, learning, agility, innovation, adaptability, and growth strategy are crucial elements for a business to stay open, serve its customers’ needs, and create cash flow to stay profitable during a time of crisis. One key aspect that affects how a business uses these elements to further its lifespan is the role of leadership. Some research has examined the areas of leadership and crisis. However, there appears to be a gap in research regarding the role of leadership in small businesses (Madanchian & Taherdoost, 2019; van Winkle et al., 2014). This paper aims to determine if there was a correlation between the servant leadership style and small business survival during the COVID-19 crisis of 2020/2021. This study used a quantitative research method to survey employees who work in small businesses in Germany. The study is highly relevant because small businesses are the backbone of many economies (World Bank, 2022), and other turbulences may be expected in the future. The results provide insights into the connection between servant leadership and sustainable business success during times of difficulty. In addition, the results may enable leaders in the future to navigate their businesses toward increased business sustainability, providing larger benefits for society. Lastly, the study discusses future opportunities for research in this area.