Exploring business planning strategies of women-owned small businesses in the construction trades

Many small businesses fail to survive past 5 years, listing the primary reason given for failure as inadequate business planning strategies. The construction industry provides the building and upkeep of physical infrastructure (buildings and roadways) in developed societies and is a major contributor to the gross domestic product for many nations. In the United States, the construction trades primarily consist of small businesses, with a smaller portion of the sector classified as women-owned. The purpose of this qualitative multiple case study was to explore the business planning strategies that successful women-owned small business (WOSB) construction leaders in New Jersey use for sustainability and growth. Contingency theory and expectancy theory of motivation served as the conceptual framework for this study. The sample was comprised of 3 women small business owners in the construction trade in New Jersey. Data collection included semistructured face-to-face interviews, a review of organization documents, business website review, and field notes. Member checking strengthened creditability and trustworthiness. Based on Rowley’s 3-step data analysis plan and a thematic analysis of the data, 5 themes emerged: constant review of goals and plans, communication and teamwork, reliance on expertise, networking, and continuous education. The findings in this study may contribute to social change by providing knowledge for sustainability and growth of women owned businesses (WOBs). By putting the findings to practical use, WOBs could sustain beyond 5 years, which would positively influence society by enhancing the local economy, promoting job development and fostering positive community relations.