Trends for Innovation Business Development in Lviv Region
Accounting and Finance,
innovations, investments, small business, economic activity, Lviv region
The Articles highlights trends of small business innovation development at a regional level. Small business innovation structure has been analyzed for Lviv region; interactive procedures have been researched referring to cooperation between the parties interested in its development. The amount of innovation-active small businesses and the number of innovations introduced in Lviv region have been mentioned by innovation trends and types of economic activity. Up-to-date trends in Lviv region companies' innovative activity have been revealed and factors influencing small business innovative development in the region have been outlined. As the results of the research show, due to low basic technological level of most small businesses, even minor modifications in production procedure structure or organization are considered innovation whereas at a higher developed enterprises such modifications would be considered as minor improvements. Thus, the point investments are not able to make innovative multiplied effect but still it requires large-scale partnership and cooperation in the course of investing.