“…This configures an important gap in the literature considering not only the importance of SMEs for global economies, but also the distinct features of SMEs and large business that the business model research tends to focus on (Cosenz and Bivona, 2021;Foss and Saebi, 2018;Spieth et al, 2014;Zott et al, 2011). This paucity of research gains further significance considering that SMEs often undergo business model transformation and business model innovation to implement innovation practises (Balakrishnan and Das, 2020;Hu and Hughes, 2020;Liao et al, 2019), entrepreneurial practises (Asemokha et al, 2019;Cucculelli and Bettinelli, 2015), internationalisation practises (Dabi c et al, 2020;Fernandes et al, 2023;Sadeghi et al, 2023), digital practises (Bahoo et al, 2023;Bouncken et al, 2021;Bouwman et al, 2019;Ghezzi and Cavallo, 2020) and sustainable practises (Chaudhuri et al, 2022;Klewitz and Hansen, 2014;Vrontis et al, 2021) that are key to their performance. The research on business models of SMEs tends to focus on specific aspects, such as circular business models (Ferasso et al, 2020;Geissdoerfer et al, 2020), sustainable business models (Ferreira et al, 2022), sustainable entrepreneurship , sharing economy business models (Soltysova and Modrak, 2020) and business model experimentation towards digital transformation (Bouwman et al, 2019).…”