Innovation-Driven Small Enterprises: Global Research and Strategic Economic Insights

Small businesses represent the foundational bedrock of global economic systems, spanning from informal microenterprises to dynamic and growth-oriented small and medium-sized enterprises (SMEs). They are critical engines of job creation, innovation, regional development, and social inclusion, accounting for the majority of business establishments and a substantial proportion of employment worldwide. Despite their ubiquity and importance, small businesses have historically occupied a peripheral position in academic research and policy discourse, which have often favoured the scale, visibility, and measurable impact of large multinational corporations. As the global economic environment becomes increasingly complex, shaped by rapid technological change, sustainability imperatives, demographic transitions, and recurring crises, it becomes ever more necessary to revisit the paradigms governing small business economics with a fresh and forward-looking lens. This chapter introduces the evolving landscape of small business economics and establishes the foundation for exploring innovation and resilience in this sector.