Innovation-investment aspects of small business enterprise development

Abstract

The problems of innovation and investment development of small business entities are investigated. The role of small business in the development of economies of the world is substantiated – promoting structural restructuring of the economy, strengthening the economic base of the regions, increasing the total production and retail turnover, creating a favorable environment for the development of competition, ensuring employment of a large part of the population, stimulating the implementation of scientific and technological progress. The advantages and disadvantages of small businesses are described. The necessity of development of small business enterprises is proved on the basis of combination of innovation-investment and investmentinnovation models. The activity of technoparks in foreign countries is investigated. On this basis, it is proved that technoparks are an effective tool for innovations in the country's economy. It is proposed to use such modern EU initiatives and programs as EU4Business, COSME, Horizon 2020 for small business development.