Survival of Small and Medium Enterprises (SMEs) through Innovation Practices and Technological Innovation during COVID-19: Evidence from Pakistan

Abstract

The purpose of this study is to investigate and clarify how Innovation Practices (IP) and Technological Innovation (TI) affect smalland medium-sized enterprises (SMEs)' ability to External Support (ES) in the COVID19 period. This research aims to investigate how External Support (ES) mediates the relationship between Technological Innovation (TI), Innovation Practices (IP), and the survival of small and medium-sized enterprises (SMEs), as well as how ES mediates the interaction between IP and TI.This study took a quantitative and deductive approach. The researcher gathered information from three SMEs in Gujranwala using an electronic questionnaire. SPSS software is used to analyses the data. In this study, two independent variables (IP and TI) each impact the SMEs, which leads to the ES. The replies of 250 consumers were used as a sample for this investigation. The judgmental sampling technique is employed in this study to obtain data from knowledgeable people about the subject under investigation. According to this study, both factors (IP and TI) have a substantial relationship with SMEs. Results show that the ES mediates the link between IP and SMEs as well as the association between IP and TI.This research will add to the existing knowledge about SMEs' survivability amid the COVID crisis. This is one of the first studies to look at external support as a mediator between IP and TI and the impact of IP on SSMEs in the COVID context. This study gives managers a thorough picture of the aspects that firms believe are vital in implementing effective Innovation Practices and Technological Innovation to improve their chances of business survival. As a result, this research aids managers in developing product manufacturing plans.