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SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice

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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (30 August 2023) | Viewed by 19793

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Special Issue Editors

Dr. Vítor Braga

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Guest Editor

CIICESI, ESTG, Polytechnic of Porto, 4610 Felgueiras, Portugal
Interests: business co-operation; internationalisation processes; family business; innovation; entrepreneurship
Special Issues, Collections and Topics in MDPI journals

Dr. Aidin Salamzadeh

E-Mail Website
Guest Editor

Faculty of Management, University of Tehran, Tehran, Iran
Interests: entrepreneurship; sustainable startups
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Humans are exploiting various natural resources more vigorously than ever. According to some estimations, by 2050, we will use almost twice the amount of resources compared to what is being used now (Yakubu et al., 2020). This rapid change in pace must be addressed and concrete solutions found. As entrepreneurs are the change agents of societies, they could provide sustainable solutions to these needs (Ratten et al., 2019). Thus, sustainable entrepreneurship could be a key to this dilemma. According to the Brundtland Report, “sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. This definition reveals what must be done, but sustainable entrepreneurs may be the only ones who can answer the HOW questions in this regard. Sustainability is a three-fold phenomenon that focuses on the economic, social and environmental spheres. This conceptualization goes beyond even the Shared Value Creation approach (Hummels and Argyrou, 2021), thus having a more comprehensive value. Entrepreneurial ventures, firms and SMEs are integral to this movement.

Sustainable entrepreneurship as a key concept was developed in the 1990s. It deals with creating viable solutions and change agents who identify, evaluate and exploit entrepreneurial opportunities to create a sustainable world (Diepolder et al., 2021). It “is focused on the preservation of nature, life support, and community in the pursuit of perceived opportunities to bring into existence future products, processes, and services for gain, where gain is broadly construed to include economic and non-economic gains to individuals, the economy, and society.” (Shepherd and Patzelt, 2011). Many scholars have tried to conceptualize the sustainable entrepreneurship phenomenon, especially in the last few years. Some used the Triple Bottom Line approach proposed by Elkington (1999). For instance, Farny and Binder (2021) saw it as a concept involving (i) intersection, (ii) embeddedness and (iii) integration, and Crecente et al. (2021) tried to define Sustainable Entrepreneurship Goals (SEGs) based on the Sustainable Development Goals (SDGs). However, most of these efforts have remained controversial. According to Terán-Yépez et al. (2021), the first publications on this subject appeared in 2002, but we hope to see this number continuously rise.

In sum, this Special Issue attempts to shed light on the connection between SMEs, entrepreneurial firms and sustainability by focusing on sustainable entrepreneurship as a central phenomenon. Thus, it aims to contribute to the theory and practice of sustainable entrepreneurship. Original research articles and reviews are welcome. Research areas may include (but are not limited to) the following:

Exploring interdisciplinary theoretical frameworks and models that could clarify the conceptualization of sustainable entrepreneurship.
Investigating the factors affecting sustainable entrepreneurship in SMEs and entrepreneurial firms.
Exploring how SMEs and entrepreneurial firms could benefit from following the sustainable entrepreneurship philosophy.
How sustainable startups and ventures could create socioeconomic impact or create shared value.
Investigating the emerging themes and research gaps related to SMEs, entrepreneurial firms and sustainability;
The role of society in fostering circular-economy-based business models;
The role of governmental action in sustainable businesses.

We look forward to receiving your contributions.

Crecente, F., Sarabia, M., & del Val, M. T. (2021). Sustainable entrepreneurship in the 2030 horizon. Sustainability, 13(2), 909.

Diepolder, C. S., Weitzel, H., & Huwer, J. (2021). Competence frameworks of sustainable entrepreneurship: A systematic review. Sustainability, 13(24), 13734.

Elkington, J. (1994). Towards the Sustainable Corporation: Win-Win-Win Business Strategies for Sustainable Development. California Management Review, 36(2), 90-100.

Farny, S., & Binder, J. (2021). Sustainable entrepreneurship. In L.P Dana (2^nd eds), World Encyclopedia of Entrepreneurship. Edward Elgar Publishing, UK, 605-611.

Ratten, V., Jones, P., Braga, V., & Marques, C. S. (2019). Sustainable entrepreneurship: The role of collaboration in the global economy. In Sustainable Entrepreneurship (pp. 1-7). Springer, Cham.

Shepherd, D. A., & Patzelt, H. (2011). The new field of sustainable entrepreneurship: studying entrepreneurial action linking “what is to be sustained” with “what is to be developed”. Entrepreneurship Theory and Practice, 35(1), 137–163.

Terán-Yépez, E., Marín-Carrillo, G. M., del Pilar Casado-Belmonte, M., & de las Mercedes Capobianco-Uriarte, M. (2020). Sustainable entrepreneurship: Review of its evolution and new trends. Journal of Cleaner Production, 252, 119742.

Yakubu, B. N., Salamzadeh, A., Bouzari, P., Ebrahimi, P., & Fekete-Farkas, M. (2022). Identifying the key factors of sustainable entrepreneurship in the Nigerian food industry: The role of media availability, Entrepreneurial Business and Economics Review, 10(2), 147-162.

Dr. Vítor Braga
Dr. Aidin Salamzadeh
Guest Editors

Manuscript Submission Information

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Keywords

entrepreneurial firms
SMEs
sustainability
sustainable entrepreneurship
entrepreneurial ventures
small and medium-sized firms
startups

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Published Papers (7 papers)

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Research

17 pages, 1703 KiB

Open AccessArticle

Transforming Trash into Treasure Troves: SMEs Co-Create Industrial Ecology Ecosystems with Government

by Judith M. Herbst

Sustainability 2023, 15(19), 14533; https://doi.org/10.3390/su151914533 - 6 Oct 2023

Viewed by 2059

Abstract

Industrial ecology addresses newer business models that improve flows of energy, water, and materials, mimicking interconnections found in natural systems. Businesses can function interdependently to extend the life cycle of resources by setting up systems to repurpose waste or transfer a byproduct of manufacturing as an input for creating another product. Although the extant literature focuses on the role of businesses in closed-loop processes, governments can catalyse sustainable entrepreneurship to transition to a circular economy. There is a limited understanding of how public–private partnerships can facilitate this shift in small and medium enterprises. Multiple case studies were conducted to examine industrial ecology projects that were spearheaded by a state grant scheme in Australia. The long-term progress in establishing initiatives across commercial and industrial projects was monitored. The findings show government incentives to start up projects facilitate conditions to develop technology and other capabilities for responsible production and consumption. This study extends the theory of innovation ecosystems into practice. The model demonstrates that sustainable value for business and society can be realized through financial support and collaboration that enables entrepreneurship and drives circularity across cities and regions. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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16 pages, 945 KiB

Open AccessArticle

Entrepreneurship Strategy through Social Commerce Platform: An Empirical Approach Using Contagion Theory and Information Adoption Model

by Leo-Paul Dana, Demetris Vrontis, Ranjan Chaudhuri and Sheshadri Chatterjee

Sustainability 2023, 15(16), 12467; https://doi.org/10.3390/su151612467 - 16 Aug 2023

Cited by 1 | Viewed by 1616

Abstract

Entrepreneurship is the readiness and ability of an organization, primarily a new business, to develop, organize, and conduct its business to make a profit despite uncertainties. Social commerce (s-commerce) assists consumers to buy products online. However, few studies have investigated the influence of entrepreneurship and online platform capability on consumers’ online purchase decisions. Academicians, researchers, and practitioners are also increasingly interested in understanding how the s-commerce environment influences entrepreneurship and online purchase decisions. Against this background, this study set out to examine this phenomenon. Using information adoption models and contagion theory as well as the input from the literature review, a theoretical model was developed. Such a model was tested with a factor-based PLS-SEM approach by analyzing the responses of 342 respondents. The results find that electronic WOM (e-WOM) credibility, predicted by online e-WOM content and platform credibility, and impacted by online reputation, could significantly influence consumers’ online purchase decisions. The study also finds that both positive and negative valance of eWOM as well as entrepreneurship significantly influence eWOM credibility, which in turn positively influences consumers’ purchase decisions when using online platforms. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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21 pages, 1579 KiB

Open AccessArticle

Validation of Decision Criteria and Determining Factors Importance in Advocating for Sustainability of Entrepreneurial Startups towards Social Inclusion and Capacity Building

by Jaroslaw Korpysa, Uma Shankar Singh and Swapnil Singh

Sustainability 2023, 15(13), 9938; https://doi.org/10.3390/su15139938 - 21 Jun 2023

Cited by 1 | Viewed by 2064

Abstract

The main goal of the study is to assess the decision criteria and the determining factors for the sustainability of entrepreneurial startups in order to contribute towards social inclusion and capacity building. Both concepts are in the development phase and are the outcome of entrepreneurial ecosystem and individual behavior and traits. The current study observed the research problem as entrepreneurship and entrepreneurial startups are the continuous phenomena required for every economy. The lack of an efficient ecosystem and incompetent trait of an entrepreneur brings the entrepreneurial startup to failure. Therefore, an assessment of decision criteria and determining factors categorizing them by their importance may provide the requirements to lead to a successful entrepreneurial startup, contributing to social inclusion and capacity building. The study solved the research problem by statistical assessment of decision criteria and determining factors and categorizing them by their importance may provide the requirements to lead to a successful entrepreneurial startup. The research is built on research questions, objectives, a conceptual model, and a hypothesis, which are tested based on the data collected. The collection of data was done through a survey questionnaire on a sample of established entrepreneurs. The study concludes that the five components of decision criteria are region, competition, funding opportunities, tax system, and country economic situation, whereas eight determining factors, consciousness and reliability, pursuit of results, flexibility, stress resistance, skills of identification and exploitation of potential market opportunities, leadership, creativity and innovation, and delegation of decision-making, are required for a successful entrepreneurial startup to be able to work towards social inclusion and capacity building. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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37 pages, 1466 KiB

Open AccessArticle

The Effect of Social Capital and Organizational Health on Competitive Advantages of Culinary and Craft SMEs in Samarinda City

by Feny Widyawati, Imas Soemaryani and Wa Ode Zusnita Muizu

Sustainability 2023, 15(10), 7945; https://doi.org/10.3390/su15107945 - 12 May 2023

Cited by 2 | Viewed by 2265

Abstract

Samarinda City was appointed as a buffer for the new capital city of Indonesia through culinary and craft SMEs. Culinary and craft SMEs are believed to be the drivers in accelerating the achievement of Sustainable Development Goals (SDG), which are part of the strategy of the Provincial Government of East Kalimantan. Even so, 72% of the problems culinary and craft SMEs face in Samarinda City are related to competitive advantages. Culinary and craft SMEs in Samarinda City are still constrained by competitive disadvantage, especially in the non-substitutable resource aspect. This study aimed to analyze the effect of organizational capital and health on competitive advantage, especially in the era of post-COVID-19 economic recovery through the creative economy. This study used a survey method with a quantitative approach. The analysis techniques used were descriptive analysis and factor analysis using structural equation modeling with item parceling. The subjects of this study were SMEs in the culinary and craft sub-sector in Samarinda City (N = 365 SMEs). This study found that social capital and organizational health positively and significantly affect competitive advantage, both partially and simultaneously. Surprisingly, the dimension of work culture and climate s not suitable for modeling the impact of social capital and organizational health on the competitive advantage of culinary and craft SMEs in Samarinda City. This research is expected to contribute theoretically to developing a new model to achieve optimal competitive advantage through social capital and health organizations. This research is expected to strengthen the people’s economy to achieve SDGs through SMEs, especially for Samarinda City, a buffer for the new capital city of the Republic of Indonesia and post-COVID-19 economic recovery through the creative economy. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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23 pages, 721 KiB

Open AccessArticle

Exploring the Mechanisms Linking Perceived Organizational Support, Autonomy, Risk Taking, Competitive Aggressiveness and Corporate Sustainability: The Mediating Role of Innovativeness

by Małgorzata Okręglicka, Prabhat Mittal and Valentinas Navickas

Sustainability 2023, 15(7), 5648; https://doi.org/10.3390/su15075648 - 23 Mar 2023

Cited by 7 | Viewed by 3377

Abstract

To achieve organizational performance excellence, modern organizations have not only the option but the necessity to adapt and implement corporate sustainability (CS) practices. CS changes previous business models, taking into account environmental and social aspects, thereby determining the success of the organization. The implementation of CS is, however, reinforced or limited by a number of internal and environmental factors. The main research goal was therefore to identify and evaluate the mechanisms linking perceived organizational support (POS) and entrepreneurial orientation dimensions such as autonomy (AU), risk taking (RT), competitive aggressiveness (CA) and innovativeness (IN) with CS. In order to verify the research hypotheses, a survey was conducted on a group of 200 small and medium-sized enterprises in 2022. A managerial approach was used in the study. The respondents used a 5-point Likert scale for the assessment of their attitudes and opinions. The relationships have been examined using structural equation modeling. The findings reveal that the type of enterprise moderates the relation between perceived organizational support and corporate sustainability, and innovativeness mediate this relation. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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20 pages, 1241 KiB

Open AccessArticle

Does Strategic Change Enhance the Relationship between Firms’ Resources and SMEs Performance in Pakistan?

by Sheema Matloob, Mónica Lorena Sánchez Limón, Halia Mayela Valladares Montemayor, Ali Raza and Julio Cesar Castanon Rodriguez

Sustainability 2023, 15(3), 1808; https://doi.org/10.3390/su15031808 - 17 Jan 2023

Cited by 4 | Viewed by 3971

Abstract

There are approximately 3.2 million SMEs in Pakistan. It is believed that more than 90% of the economic establishments are SMEs. They contribute 40% of the economic growth and create 70% of Pakistan’s overall employment opportunities. Despite substantial presence and contribution, 95% of SMEs fail within the first five years. Out of the remaining 5%, 25% of the SMEs survive up to four more years, adversely impacting economic growth, employment, and living standards. Previous studies indicated SMEs’ low performance as a significant cause and provoked entrepreneurs to shut down their businesses. Therefore, this study aims to examine the performance of SMEs in Pakistan. Based on the problem, the study contextualized the research model that investigates the relationship between financial capital availability (FCA) and innovative work behavior (IWB), which is believed to be crucial for enhancing small and medium-sized businesses’ performance through accelerated strategic change (SC). In addition, the moderating role of Government support (GS) on SMEs’ performance was also considered. The quantitative, cross-sectional research design was considered appropriate for this research. Data was collected through a structured questionnaire to 340 SMEs in the Pakistan manufacturing sector. The hypothesized relationships were tested through structural equation modeling (SEM) using Smart-PLS 4. Results showed a positive link between FCA, IWB, and SMEs’ performance. Furthermore, FCA and IWB are the key drivers to achieving an optimum level of SME performance, which translates the SC process within the SMEs in Pakistan. Additionally, this research discovered that SC partially mediates the relationship between FCA and IWB on SMEs’ performance. Moreover, GS strengthens the relationship between SC and SMEs’ performance. The present findings offer valuable insight to SME owners, policymakers, and first-line managers to understand the radical change in the process. The study also outlined policy interventions to uplift the diminishing SMEs’ performance. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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16 pages, 343 KiB

Open AccessArticle

Firm-Specific Determinants of Firm Performance in the Hospitality Sector in India

by Tarun Kumar Soni, Akshita Arora and Thi Le

Sustainability 2023, 15(1), 554; https://doi.org/10.3390/su15010554 - 28 Dec 2022

Cited by 8 | Viewed by 2968

Abstract

The hospitality sector has been one of the worst-hit industries due to the onset of the COVID-19 pandemic, followed by nationwide lockdowns and curfews. Further, other factors, including the Russia–Ukraine war, commodity price rise, and recession, have acted as hurdles in the slow recovery process. Policy experts at different forums have advocated for proactive and robust measures by the government to reduce adverse impacts during these unprecedented times. To design such measures, determining the firm-specific factors that significantly impact their profitability is essential. In this context, this study tries to understand firm-specific factors that affect the hospitality sector’s performance in India. It also explores whether the firm-specific characteristics have changed over time due to changes in political regimes and differ between private and publicly listed companies. Using a sample of 440 public and private hospitality firms for 11 years (2010–2020) and after controlling for unobserved heterogeneity using firm fixed effects, we tested the relationship between firm characteristics and performance. The estimation results demonstrate that the net asset turnover, liquidity, foreign earnings intensity, and age have significant, positive impacts on profitability. In contrast, solvency and size have negatively impacted firm performance. Further, we found differences in the magnitudes of coefficients for private and publicly listed companies. The findings provide important implications for managers and regulators to stimulate new solutions to overcome the ongoing difficult period. Full article

(This article belongs to the Special Issue SMEs, Entrepreneurial Firms and Sustainability: Theory and Practice)

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