The Intersection of Business Models and SME Performance: A Bibliometric Analysis of Research Trends

Mpilwenhle Nomvuyo Ndlovu (), Elona Nobukhosi Ndlovu and Patrick Ebong Ebewo
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Mpilwenhle Nomvuyo Ndlovu: Centre for Entrepreneurship Development, Tshwane University of Technology, Pretoria 0183, South Africa
Elona Nobukhosi Ndlovu: SK Research, Oxford Business College, Oxford OX1 2EP, UK
Patrick Ebong Ebewo: Centre for Entrepreneurship Development, Tshwane University of Technology, Pretoria 0183, South Africa

Administrative Sciences, 2025, vol. 15, issue 4, 1-26

Abstract: This study presents a systematic bibliometric analysis to identify trends and gaps in research on SME business models and SME performance, following PRISMA 2020 guidelines. A comprehensive search of the Scopus database (1957–2025) identified 85,494 initial records. After removing duplicates and applying screening criteria, 307 studies were included, with only 22 specifically focused on SME performance. The PRISMA flow diagram illustrates the study selection process. The findings reveal three key research themes: digitalisation, business model innovation, and sustainability. The study contributes to the literature by providing a structured bibliometric analysis of SME business model research, highlighting geographic disparities, theoretical gaps, and underexplored areas, such as the role of institutional factors in SME performance. This imbalance highlights the need for broader geographical representation in future studies. This study emphasises the importance of further research on adaptive and resilient SME business models, particularly in emerging markets. It also recommends greater collaboration across disciplines to advance theoretical and practical insights in this field. By applying a systematic approach, this study provides a structured overview of the current literature and identifies areas requiring further investigation.

Keywords: SMEs; business models; bibliometric analysis; digitalisation; innovation; sustainability (search for similar items in EconPapers)
JEL-codes: L M M0 M1 M10 M11 M12 M14 M15 M16 (search for similar items in EconPapers)
Date: 2025
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