Innovation, Entrepreneurship, Growth, And Survival Strategies in SMEs and Startups: A Comprehensive Analysis

Abstract

Small and Medium Enterprises (SMEs) and startups are considered the backbone of economic development worldwide. They contribute significantly to job creation, innovation, and economic diversification. However, the dynamic business environment, intense competition, and limited resources pose challenges to their growth and sustainability. This paper explores the role of innovation and entrepreneurship in promoting growth, examines the survival strategies adopted by SMEs and startups, and identifies challenges and opportunities in the contemporary business landscape. The paper highlights the strategic frameworks that can enable these enterprises to thrive in an ever changing economic environment.

KEYWORDS: SMEs, Startups, Innovation, Entrepreneurship, Growth Strategies, Survival Strategies, Business Sustainability, Competitive Advantage.