“…In a study of Canadian firms, including SMEs, Tourigny and Le (2004) found that firm characteristics, in particular firm size, affected the propensity to innovate. Hadjimanolis (1999), in a study of SMEs in Cyprus, showed that the most important internal barriers were the lack of time, inadequacy of R&D activities, design and testing within the company, and inadequate financial resources, while the most challenging external barriers were ease of copying the innovation, government bureaucracy, lack of government support, lack of qualified human resources, government policies, and bank lending. Madrid-Guijarro et al (2009) found that the barriers to innovation that Spanish SMEs faced were the external environment, human resources, and financial position.…”