Decoding Sustainability Strategy in MSMEs: A Bibliometric and Content Exploration

Sustainability has become a key necessity among Micro, Small, and Medium Enterprises (MSMEs), especially in institutionally void environments where regulatory frameworks and support systems are insufficient. We use the hybrid technique of the bibliometric analysis and systematic literature review to explore the changing environment of sustainability strategies of MSMEs in this study. Our analysis of 87 high-impact journal articles uncovers the main gaps in research, themes, and trends of sustainability adoption. Our results give support to the contribution of digital transformation and practices of the circular economy in the development of sustainable business strategies. The analysis further illustrates the way this MSME stage manages to overcome the sustainability issues through the adoption of innovation, resiliency of the supply chain and regulatory compliance. There are certain obstacles to be cleared, like financial unavailability, lack of policy implementation and standardization of sustainability indicators. Therefore, this work contributes to theory and practice by offering insights from institutional theory and actionable recommendations to MSMEs, their policymakers, and investors. The article further proposes future research directions that will build upon the study, as it advocates for empirical studies on sustainability in the various typologies of SMEs.