Leaping innovation barriers to small business longevity

摘要

Small business growth forms the foundation of the economies of many nations. They are the driving force for economic growth. Due to their nature and size, small and medium-sized enterprises (SMEs) are flexible and can adapt to change and adopt new strategies. Entrepreneurship and innovation are an integral part of the economy of developed countries, including the USA, where small businesses employ half of all private sector workers. Changes in technology, globalization and knowledge compel organizational leaders to execute new strategies for survival in the competitive environment.