Innovation Practices for Enhancing Small and Medium-Sized Enterprises’ (SMEs) Performance and Survival during Coronavirus (COVID-19) Epidemic Crisis: The Moderating Role of External Support

Abstract Global epidemic crises, such as the coronavirus (COVID-19), usually put the lives of small and medium enterprises (SMEs) in danger. However, studies have demonstrated the vital role of innovation in improving enterprises’ performance and increasing the likelihood of their viability. This study aims to develop a theoretical model to provide insights about the association between innovation practices and the SMEs’ performance and survival while underlining the auxiliary role of external support in such a relationship. Online questionnaire has been used to collect the data from 259 randomly selected SME managers in Saudi Arabia, and the data was analyzed using SmartPLS3 software. The structural equation modeling (SEM-PLS) bootstrap results indicated that external support aids strengthen the positive impact of SMEs’ innovation practices on business survival. These findings have significant implications for policy makers and SME managers.