The anthology addresses selected economic, legal, and behavioral scientific questions related to SMEs under the overarching theme of 'Challenges and Innovations.' It presents research findings from early-career researchers at the Faculty of Business, Behavioral, and Legal Sciences at Leuphana University Lüneburg, whose research activities have long been focused on SMEs. The contributions in this book are organized in a narrative arc. The first section deals with selected macroeconomic and societal issues relevant to SMEs. The second section includes topics broadly related to the field of business management and organization. The book is completed with contributions on current financial, accounting, and tax law issues. Together, all contributions aim to demonstrate and establish a connection between theoretical insights and practical relevance.