On Breeds, Tricks, and Age: The Case of Small Business Growth and Market Choice Strategy

This study explores the strategic growth plans and outcomes of twenty-two small businesses located in an economically disadvantaged area in the U.S. Our sample of firms is provide unique insight in that these companies were not fast-growing, equity-backed new ventures. Instead, the companies we analyzed were what could be characterized as “asperational average joes” - slower growth organizations which have professed a desire and strategic intent at the highest management level to grow — and in many cases grow rapidly. While analyzing the growth choices of small businesses, it still remains to be seen what influences a certain firm to select a certain method of growth. Our research helps extend the limited body of knowledge in this area. Specifically, we investigate the role of strategic growth planning in guiding the firm towards its growth aspirations.