Examining the influence of innovation, entrepreneurial initiatives, and proactive strategies on the business performance of small and medium enterprises

Tuba Nafees Bajwa, Ahsan Ali Ashraf, Muhammad Shafiq and Khalid Hafeez

International Journal of Entrepreneurial Venturing, 2024, vol. 16, issue 2, 223-241

Abstract: This academic study examines the relationship between innovation, new business initiatives, proactivity, and business performance in Pakistani small and medium enterprises (SMEs). The study used a quantitative methodology and a sample size of 307 businesses to examine the correlations between these variables. The results show that innovation significantly and favourably affects SME business success. The performance of SMEs is greatly improved by innovative tactics including product development, process optimisation, and market differentiation. Additionally, it was discovered that new business ventures significantly and favourably affected firm performance. The findings of this study are important for Pakistani SMEs because they provide knowledge regarding tactics that could increase their efficacy and flexibility in the face of a dynamic and constantly changing business environment.

Keywords: innovation; new business venturing; pro-activeness; business performance; small and medium enterprises; SMEs. (search for similar items in EconPapers)
Date: 2024
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