“…Despite that great diversity, similarities of SMEs are reported in literature. They have strong regional bonds (Cohen et al, 2017; Tödtling & Kaufmann, 2001), are often owner‐managed (Hillary, 2000; Lee et al, 2016; Revell et al, 2009), prefer to pursue more long‐term oriented instead of short‐term quarter goals (Grothe & Marke, 2012) and have a flatter and less formalised organisational structure (Jansson et al, 2017) compared to big enterprises.…”