Mechanisms for Stimulating Innovation Activity of Small Businesses in the Region

Abstract :

In the conditions of rapidly changing global conditions, the development of the national economy is possible only with an active innovative position of the subjects of the real sector of the economy. The mechanism for stimulating the innovative activity of small businesses should be considered as a system of interconnected elements, with the help of which a single continuous effective development of their innovative potential is ensured. The view that investment policy may have a role in supporting innovation has become widespread. For innovative development of industry, increasing competitiveness, intensive development, small enterprises need financial resources. The research findings indicate that the innovation activity of small businesses depends on the access to investment resources (direct investments and credits, etc.). The scientific and practical significance of the topic is due to the need to increase the efficiency of regional economies in order to overcome crisis phenomena.