Business Sustainability Strategies of Small Technology Companies

Each year, almost 12% of small technology companies fail to survive, and the risks associated with high-tech startups are high for business failure due to the introduction of new technology, similar competitor technology, and the short product life cycle of new products. The purpose of this multiple case study was to explore the business sustainability strategies that some owners of small technology companies used to remain in operation for longer than 5 years. The population for the study was the owners of 5 small technology companies located in the southeast region of the United States. The general systems theory was the conceptual framework for the study. Data were collected through semistructured interviews and review of company documents, 10K report, cash flow, and profit and loss statements. Methodological triangulation and member checking were used to help ensure the reliability of the study. The analysis and data management process included an examination of the data for themes, trends, redundancy and common denominators. Four themes emerged during the research: prior serial entrepreneurial success, willingness to stay the course, ability to raise sufficient capital to meet obligations and driven and passionate owners. The implications of this study for positive social change include the potential to improve business practices through educating small business owners, first time owners of small businesses, minority and women entrepreneurs, governments, and small business incubators that have a stake in business creation and entrepreneurial development in local communities, on sustainability strategies