The Role of Governance in Solving the Problems of SMEs: A Review of the Literature Using a Systematic Approach

Abstract

Small and medium enterprises (SMEs) face various challenges such as lack of resources, finance, networking capability. Many of the constraints could be mitigated with the help of proper governance in the SMEs. Many articles have explored the challenges faced by SMEs and how this challenge could be mitigated with the help of proper governance. However, very few studies have summarized the influence of governance in solving the problems of SMEs in one place. So, a systematic literature review has been made to find the role of governance in solving the problems of SMEs. As SMEs are the pillar of economic development for a country, their problems and solutions in one document could help practitioners and academician research and development further in this area. Our findings suggest that governance may influence the problems associated with corporate networking, finance, cross-cultural interactions of SMEs.