Innovation in SMEs: A literature review based on VOSviewer

Abstract

To review the current status and development trends of scientific results on the relationship between innovation, competitive advantage, and business performance in SMEs, the article uses the bibliometric analysis items method and VOSviewer software. Based on 152 publications retrieved from Scopus data (year 1994 to 2023) quantitative review of the research literature, the study results show that emerging countries significantly contribute to promoting world economic development through innovation in SMEs; the author’s concerns about the resources that encourage innovation, the role of innovation in competitive advantage and business performance in SMEs are increasingly widely researched. In addition, the study results help researchers quickly find authors, publications, and countries as a foundation for research on innovation, competitive advantage, and business performance in SMEs. Since then, this study has provided suggestions for further research directions on innovation in SMEs: market orientation, customer orientation, open innovation, and sustainable competitive advantage.