Determination of the influence of the economic cycle stages on the innovative potential of small entrepreneurship
Date
2021-03-01
Journal Title
Journal ISSN
Volume Title
Publisher
Видавництво Львівської політехніки
Lviv Politechnic Publishing House
Lviv Politechnic Publishing House
Abstract
The small business sector is studied.
It is hypothesized that the small business sector has a
significant innovative potential, the possibilities of
which depend on the economic cycle of market
conjuncture. It has been hypothesized that innovation
investment in the small business sector depends
significantly on economic cycles, and that the structure /
directions of innovation investment are determined by
the global market conjuncture.
This is done in order to interpret the systemic /
unsystematic development of small business in the
context of public policy on the basis of appropriate
calculations and the obtained results, as well as provides
an understanding of the possibilities of realizing the
innovative potential of small business. The peculiarity of
this study is its complementarity “innovative potential
of small business – technology transfer – economic
cycles”.
It has been established that investment in
innovation and technology transfer in the small business
sector depend on market conjuncture and stages of the
economic cycle that occur in a certain period (growth or
recession). The identification of economic cycles
allowed to form the directions of state regulation and
reveal the possible risks associated with finding the
innovative potential of small business.
The conducted research creates a basis for the
implementation of the cluster policy program; contributes
to the formation of appropriate tools for creating
clusters; reveals favorable periods of labor involvement
in the realization of innovation potential; helps to
identify the periods of economic cycles in which it is
appropriate to invest in their own self-education and
modern technology. This approach will help increase the
level of balance of the small business system on an
innovative basis.
Description
Keywords
innovation potential, small business, transfer of technological solutions, investment of innovations, economic cycles, information systems
Citation
Determination of the influence of the economic cycle stages on the innovative potential of small entrepreneurship / S. Lykholat, Y. Krykavskyi, V. Lozynskiy, N. Shynkarenko // Economics, Entrepreneurship, Management. — Lviv : Lviv Politechnic Publishing House, 2021. — Vol 8. — No 1. — P. 20–34.