Natural and man-made disasters have increased the attention of practitioners and researchers to vulnerability. Identifying business vulnerability is one of the basic elements of strategic analysis and public policy. The purpose of this paper is to explore evolutionary pathways to reduce the vulnerability of technology-based businesses. The intellectual structure of this subject was examined using both bibliometric co-occurrence and co-citation analyses. We focused on 629 articles published between 1981 and 2021. This article identifies four specific areas. Business performance, small business vulnerability, sources of sustainability in business, and adaptation policy assessment. A novel framework was developed based on the most prominent papers identified in co-citation, and the highly cited papers. The proposed model includes drivers, vulnerability appearance, and vulnerability reduction. This study examines the basis of research concepts, themes, and communities in reducing the vulnerability of technology-based businesses. This article identifies business vulnerability as one of the relevant areas to disaster economics and sustainability studies.