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Small to Medium Enterprises (SMEs) are a key part of socio-economic development in South Africa by providing employment, generating incomes, and alleviating poverty. Despite their significance, South African SMEs continue to register high failure rates, low growth rates, and short lifespan, particularly in unstable industries. Existing research has consistently cantered on the determinants of firm performance but has been remiss in considering the combined effect of firm size, financial turnover, and performance on lifespan in SMEs—specifically in diversified industrial settings. Bridging the research gap in extant research, the present research considered the interrelationship between the aforementioned variables in the best-performing and poorest-performing industries in South Africa, Manufacturing and Construction industries. The study used a correlational research design and collected data from 204 SMEs using structured questionnaires to gauge the number of employees, turnover per year, and operation period in years. Pearson correlation analysis established that in the Manufacturing industry, longevity was weakly and significantly interrelated with turnover and size but in the Construction industry was weak or statistically non-significant. Contrastingingly, when both industries were combined together, weak but statistically significant interrelationship was established between longevity and both turnover and size, but a strongly positive interrelationship was established between turnover and size. The results conclude that firm size and financial performance are key drivers of the lifespan of SMEs, especially in more stable industries.

In highly competitive market conditions, it is vital to innovate for the firms in order to survive. The profitability, market share, consumer satisfaction and global competitiveness of the firms mainly depend on their competency of the production of the successful innovations providing for the firm competitive advantage. In this context, main aim of the study is to investigate the effects and determinants of the innovations in the firm level by considering a firm operating in white goods sector in Turkey. Main result of the study is that innovations have important effects on performance indicator of the firm. For this reason, firms have to focus on the production of the innovations providing sustainable competitiveness and profitability by implementing appropriate policies.