INNOVATIVE DEVELOPMENT OF SMALL AND MEDIUM-SIZED ENTERPRISES IN BULGARIA

Resumen

Over the past few years, faced with new dynamic bisence models and increasing competition in the
market, many small and medium-sized enterprises are currently facing the need for a comprehensive
review of their innovation activities. Innovation must be implemented from the core of the organization
and to the smallest part of the production. By increasing the innovation in the production of it’s
products, as well as implementing them in the production processes, small businesses will continue
to develop even in the face of pandemics, crises, etc. The past year has shown most managers of
small and medium-sized enterprises to monitor trends and developments in technology, digitization
and continuous innovation in the market. In the context of pandemy or crisis situations, the need for
the implementation of innovative practices and activities is evident in order to achieve greater
flexibility and to maintain the competitive level. The main objective of this development is to
systematize the definitions of the term "innovation" offered by various economists and to analyze the
innovation development of small and medium-sized enterprises in the Republic of Bulgaria. The main
research methods used in the development are contingent analysis, method of analysis and
synthesis, intuitive and systematic approach, survey.