Title: A systematic literature review on key performance indicators for growth in small and medium enterprises

Authors: Ansita Aggarwal; Amit Kumar Dwivedi

Addresses: Jaipuria Institute of Management, Jaipur, India ' Entrepreneurship Development Institute of India (EDII), Gandhinagar, India

Abstract: The purpose of this paper is to identify the key performance indicators (KPIs) that have an impact on the growth of SMEs. SMEs' growth factors research has evolved in recent years. The study aims to recognise significant contributors, key factors, current trends, and future directions for research in SMEs. In a sample of 486 studies taken from the EBSCO and SCOPUS databases to explore the research activities undertaken on that subject, this paper adopts a literature review methodology along with citation analysis and thematic analysis. The result of a systematic review of factors affecting the growth of SMEs is presented. It utilises both the Australian Business Deans Council (ABDC) ranking and Scimago H-index to objectively demonstrate all the factors that can impact growth of small firms. Many interesting articles and the most prominent journals are listed based on citation analysis. The finding revealed a total of eight factors out of 73 factors, which were mentioned in a minimum of four papers. Most influential articles were identified in the analysis. This paper concludes with eight factors that SMEs need to control if they want to achieve growth in their organisation. Moreover, this study has identified research gaps and has proposed workable recommendations for the future.

Keywords: small and medium enterprises; key performance indicators; KPIs; growth; performance.

DOI: 10.1504/IJBEX.2025.144981

International Journal of Business Excellence, 2025 Vol.35 No.3, pp.329 - 352

Received: 19 Jan 2021
Accepted: 17 May 2021
Published online: 17 Mar 2025 *

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