DEVELOPMENT OF INNOVATIONS IN SMALL ENTREPRENEURSHIP

Abstract

The article examines the importance of the development of innovations in small entrepreneurship in the era of modern challenges. Ukraine’s place in the ranking of world innovations is determined. The interpretations of the concepts of “innovations” and “innovative small entrepreneurship” are given. Possibilities of formation of innovations are found out through consolidation of relations of economic participants “the state”, “business”, “science”. The development of innovations in small entrepreneurship at any stage of its activities plays a leading role. Innovations are powerful drivers of the modern world economy, they capture markets very quickly, change the goals of the industry and even major players. New developments give much higher results than simply attracting additional resources. Innovative activity of small enterprises should be developed by: creating state centers to support the development of innovations in small entrepreneurship; encouraging entrepreneurs to attract new technologies in the production of goods and services; programs to support the development of innovative ecological industries; preferential lending and taxation; formation of opportunities by the state for investment of breakthrough technologies; training of highly qualified personnel in the field of innovations; stimulating innovators to creative search and motivating creative individuals. The key components of innovations development in small entrepreneurship are non-standard, unique, rational, environmentally friendly, social and emotional. Generating of innovations is one of the most important strategic areas of small entrepreneurship, and its main goal is to find new areas of business, develop and implement completely new technologies, products, upgrade existing products and services and use modern tools to promote products. The use of innovations in small entrepreneurship activities will allow to quickly adapt to change be interesting and competitive in the market. Strategic ways of innovations development should focus on smart novelty in terms of creativity of ideas and technologies, greening, etc. in order to meet the humanization needs of the environment.