Understanding the Impact of Financial, Business, and Online Business Acumen on Driving New Venture Innovation and SMME Success from a Knowledge Management Perspective

Abstract

This study investigates how financial acumen, business acumen, and online business acumen influence innovation and success among Small, Micro, and Medium Enterprises (SMMEs), with entrepreneurial creativity acting as a mediating factor. Grounded in the Knowledge-Based View (KBV) and the Organizational Knowledge Creation Theory (SECI model), the research conceptualizes these acumen types as critical dimensions of intellectual capital and knowledge assets. The study develops and tests a conceptual framework that integrates these forms of acumen with entrepreneurial creativity to explain their collective impact on SMME innovation and performance. Drawing on current literature and knowledge management theory, the paper emphasizes how these capabilities foster strategic decision-making, innovation, and adaptability in increasingly digital business environments. Findings reveal that each form of acumen significantly contributes to entrepreneurial creativity, which in turn enhances venture innovation and success. The study offers practical implications for entrepreneurs, educators, and policymakers aiming to enhance the competitiveness and sustainability of SMMEs through targeted capacity building in financial literacy, business strategy, and digital transformation.