ISSN: 1648 - 4460

International Journal of Scholarly Papers

VU KHF

Transformations  in
Business & Economics

Transformations in
Business & Economics

  • © Vilnius University, 2002-2018
  • © Brno University of Technology, 2002-2018
  • © University of Latvia, 2002-2018
Article
INNOVATIONS IN SME SEGMENT: IMPORTANT FACTORS AND DIFFERENCES IN THE APPROACH BY SIZE AND AGE OF THE COMPANY
Jaroslav Belas, Eva Ivanova, Zoltan Rozsa, Jaroslav Schonfeld

ABSTRACT. Innovations are an important part of business activities, because of their impact on the market position and financial performance of enterprises. Furthermore, they help keep existing companies in a growing competitive environment. The aim of the article is to define and quantify significant factors which determine inclination to innovations in the segment of SMEs. In this context, empirical research in the Slovak economic environment was realized. The total number of respondents in this research was the 529. Pearson's statistic and regression analysis were used to confirm hypotheses. The research showed that 56% of SMEs regularly undertake innovative activities while larger and older firms invest more intensively. Financial motivation and awareness of SMEs on governments' innovation policy in Slovakia is relatively low. The biggest impact on companies' innovation activities has sufficient awareness about government innovation policy; less impact has other independent variables: external funding sources and government's financial incentives .

KEYWORDS:  small and medium-sized enterprises, SMEs, innovation, external funding source, bank loan, government innovation policy.

JEL classification:  G32, L26, L53.

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Scholarly papers Transformations in Business & Economics
Kaunas Faculty
Vilnius University
Muitinės g. 8
Kaunas, LT-44280
Lithuania

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