Recommendations on Strengthening
the Role of Innovative Small and
Medium-sized Enterprises (SMEs)
in CIS Countries
New technologies and knowledge, forming real concrete benefits, are becoming a defining factor for economic growth and for the development of the society. The exclusive significance of the innovation component of small and medium-sized business are of great significance for the economic and social development .Taking into the account the heightened risks accompanying the introduction of new technologies by SMEs and the enormous potential possibilities that comes with such new technologies, in economic and social terms, governments should undertake efforts and offer privileges to motivate innovation activities among SMEs.
TDC has systematized the experience of a number of western countries in relation to the successful stimulation of small and medium-sized innovation enterprises in order to determine general characteristics of the parameters and role of SMEs in the economic development of countries, as well as identifying the factors hampering the enhancement of their role and the respectability to the introduction of innovations.
The recommendations are an attempt to present in general terms the organizational, institutional, fiscal, financial-credit and other operating levers that are most acceptable for countries in transition and which may be used for the purposes of strengthening the innovation component of SMEs. The recommendations have been devised taking into account the level achieved in the development of the innovation activities of SMEs, based on a study and comparison of the normative base of countries associated in the Commonwealth of Independent States (CIS), economic and innovation development strategies adopted to support SMEs, and the economic and intellectual potential available.