Identifying the Triggers for SME Innovation and Success: A UK mixed methods study

DOI: 10.5176/2251-2039_IE1241

Authors: David E Gray, Mark NK Saunders and Harshita Goregaokar

Abstract: This paper recounts the planning and the first stages in the delivery of a research project that set out to identify the common factors which produce innovation and business success amongst medium-sized enterprises. This means identifying the crossroads or critical incidents (including failures) that businesses reach, and what triggers stimulate innovation and growth. Secondary data analysis has identified three key areas: the role of the entrepreneur (including entrepreneurial orientation), the nature of the firm (for example, its age, size and legal form), and business strategy (including the use of social networks). Phase 1 of the project, reported here, has identified five areas of significance: access to finance, flexibility (including the ability to contract), the utilization of social capital and networks, committed engagement with technology including social media, entrepreneurial orientation and learning orientation. Propositions for the next phase of the research project are presented.

Keywords: SME innovation, SME success, social networks, entrepreneurial orientation, learning orientation.