Small business in a context of financial crisis: an analysis of their survival
Keywords:
surviving, strategy, crisis, small business.Abstract
This research aims to characterize small businesses that survived (crisis 2008) in the City of Buffalo, New York, United States of America. According to the literature on the subject, the main authors cited are Chrisman et al (1999), Dahlqvist et al (2000), Fotopoulous and Louri (2000), Fritsch et al. (2006), Hannan and Freeman (1977) Littunen et al (1998), Lussier and Pfeifer (2001), Lussier (1996), Reid (1999), Van Praag (2003). The methodology used is of an explanatory type and the clustering technique (cluster) was used as an analysis tool, which allowed to determine the characteristics of the companies that survived. For information collection, a structured questionnaire was applied to 56 small enterprises established in the city of Buffalo, New York, during the period from July 2014 to November 2015. The results show that there are two groups of small surviving companies: A) the first one is made up of businesses that are characterized by a management model and an information system that allow the generation of reports (Financial Statements, Inventories, Customer Analysis, among others) for decision making and b) the second, it integrates commercial establishments that have a business strategy based on their comparative advantages and innovation in their management systems.References
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