Explore the evidence.
Understand the reach.

The unavailability of resources has often been stated as one of the main limitations for SMEs’ growth in developing countries. The aim of this study is to address how the position of limited resources impacts the relationship between the entrepreneurial orientation of SMEs in developing countries and their business performances. For this purpose, a conceptual framework has been created, delivering six theoretical propositions aiming to test the impact of limited resources on SMEs’ courage for exploring new opportunities and taking risks, promoting innovation, act proactively on the market, and set autonomy and competitive aggressiveness as standards in their operations.  Derived propositions have been elaborated by applying a multiple-case research strategy. Six companies from the private healthcare sector in North Macedonia have participated in the research and contributed to the same with a valuable set of data. Study results have indicated relatively low threats from the limited resources to the entrepreneurial orientation dimensions and the business's success correspondingly. Businesses have mainly been financed through their own resources and bank loans, and in some cases through grants as a result of collaboration with innovative and other SMEs supporting funds. Nevertheless, despite the unenthusiastic level of available resources, entrepreneurs have shown courage to take risks, initiate innovation and act proactively in the private healthcare market.

Despite being acknowledged as the primary catalyst for economic development, entrepreneurship in emerging markets contends with multiple constraints. The availability of unexploited business opportunities certainly raises the entrepreneurial potential of Small and Medium Enterprises (SMEs). Entrepreneurial orientation strategy strongly supports SMEs to improve their position in the market by instilling the courage to explore new prospects and take risks, promote innovation, act proactively on the market, and establish autonomy and competitive aggressiveness as norms in their operations. This research focuses on the entrepreneurial orientation approach as a key firm-level phenomenon and its influence on business performance in emerging markets. More specifically, the study elaborates on SMEs’ risk-taking, innovativeness, pro-activeness, autonomy, and competitive aggressiveness under the moderating influence of unexploited opportunities. A multiple-case study technique was used to develop the five propositions generated from the conceptual framework of the study. Six companies operating in the private healthcare sector in North Macedonia actively participated in the research, contributing a substantial body of data. According to the study findings, the unexploited opportunities have a reasonably large effect on SMEs’ entrepreneurial orientation activities and corresponding performance. Nonetheless, despite the hostile entrepreneurial environment, SMEs have demonstrated boldness in taking risks, initiating innovation, and continuity in taking proactive actions in the private healthcare industry.

Startups have been recognized as direct drivers of national economic prosperity; therefore, factors that contribute to their success hold a special place in entrepreneurship literature. Still, there is a lack of studies elaborating how the emergence of new digital technologies has changed the way success factors impact ventures. To address the research problem, a qualitative methodology is employed grounded on systematic literature review, summarizing insights from existing literature, incorporating 110 research papers published on Emerald, Scopus and EBSCO, and other relevant bases, in the period from October 2024 to September 2025. The central objective of this research is to provide clear comparisons of the impact of four internal entrepreneurial success factors (knowledge, internal innovation capacity, social networks and managerial and planning ability) in the frames of traditional and digital businesses. Results show that the four studied success factors are essential for both traditional and digital businesses. It illustrates that the four elaborate factors are mutually interconnected, starting with traditional processes which emphasize experiential learning, transferring to digital processes emphasizing knowledge of sophisticated technology. As contribution to entrepreneurial practice, comparative analysis underlines the need for deeper understanding of entrepreneurial environments and adaptation of hybrid capabilities combining strategic planning with digital adaptability.

Startups have been recognized as direct drivers of national economic prosperity; therefore, factors that contribute to their success hold a special place in entrepreneurship literature. Still, there is a lack of studies elaborating how the emergence of new digital technologies has changed the way success factors impact ventures. To address the research problem, a qualitative methodology is employed grounded on systematic literature review, summarizing insights from existing literature, incorporating 110 research papers published on Emerald, Scopus and EBSCO, and other relevant bases, in the period from October 2024 to September 2025. The central objective of this research is to provide clear comparisons of the impact of four internal entrepreneurial success factors (knowledge, internal innovation capacity, social networks and managerial and planning ability) in the frames of traditional and digital businesses. Results show that the four studied success factors are essential for both traditional and digital businesses. It illustrates that the four elaborate factors are mutually interconnected, starting with traditional processes which emphasize experiential learning, transferring to digital processes emphasizing knowledge of sophisticated technology. As contribution to entrepreneurial practice, comparative analysis underlines the need for deeper understanding of entrepreneurial environments and adaptation of hybrid capabilities combining strategic planning with digital adaptability.

Despite being acknowledged as the primary catalyst for economic development, entrepreneurship in emerging markets contends with multiple constraints. The availability of unexploited business opportunities certainly raises the entrepreneurial potential of Small and Medium Enterprises (SMEs). Entrepreneurial orientation strategy strongly supports SMEs to improve their position in the market by instilling the courage to explore new prospects and take risks, promote innovation, act proactively on the market, and establish autonomy and competitive aggressiveness as norms in their operations. This research focuses on the entrepreneurial orientation approach as a key firm-level phenomenon and its influence on business performance in emerging markets. More specifically, the study elaborates on SMEs’ risk-taking, innovativeness, pro-activeness, autonomy, and competitive aggressiveness under the moderating influence of unexploited opportunities. A multiple-case study technique was used to develop the five propositions generated from the conceptual framework of the study. Six companies operating in the private healthcare sector in North Macedonia actively participated in the research, contributing a substantial body of data. According to the study findings, the unexploited opportunities have a reasonably large effect on SMEs’ entrepreneurial orientation activities and corresponding performance. Nonetheless, despite the hostile entrepreneurial environment, SMEs have demonstrated boldness in taking risks, initiating innovation, and continuity in taking proactive actions in the private healthcare industry.

The unavailability of resources has often been stated as one of the main limitations for SMEs’ growth in developing countries. The aim of this study is to address how the position of limited resources impacts the relationship between the entrepreneurial orientation of SMEs in developing countries and their business performances. For this purpose, a conceptual framework has been created, delivering six theoretical propositions aiming to test the impact of limited resources on SMEs’ courage for exploring new opportunities and taking risks, promoting innovation, act proactively on the market, and set autonomy and competitive aggressiveness as standards in their operations.  Derived propositions have been elaborated by applying a multiple-case research strategy. Six companies from the private healthcare sector in North Macedonia have participated in the research and contributed to the same with a valuable set of data. Study results have indicated relatively low threats from the limited resources to the entrepreneurial orientation dimensions and the business's success correspondingly. Businesses have mainly been financed through their own resources and bank loans, and in some cases through grants as a result of collaboration with innovative and other SMEs supporting funds. Nevertheless, despite the unenthusiastic level of available resources, entrepreneurs have shown courage to take risks, initiate innovation and act proactively in the private healthcare market.