SMEs and exogenous shocks: A conceptual literature review and forward research agenda

Economic crises, natural disasters, armed conflict and infectious disease outbreaks, amongst others, present interlinked challenges for small businesses have generated a recent wealth of research across varied fields. Therefore, this article outlines an analytical lens suggesting how SMEs experience shocks crises that focuses on the nature (i) business, (ii) shock (iii) response within given context. We thematically draw out key trends, knowledge gaps tensions highlight promising engagement avenues future scholarship practice. contextualise are distinct from large firms in they crisis events; different types impact business; shape SME-specific responses (iv) COVID-19 pandemic as ‘novel exogenous shock’ influences all above. conclude by emphasising emerging research.