Innovation and innovation activities of Bulgarian small and medium-sized enterprises (SMEs)

Technical University of Varna, 1, Studentska str., 9000, Varna, Bulgaria

^* Corresponding author: sibel8386@gmail.com

Abstract

Small and medium-sized enterprises are the key driving forces of economic growth and play a decisive role in determining the development of the country’s economic structure. They tend to respond swiftly and adapt quickly to the changes that occur in the economic environment by introducing such innovations and innovation activities that address and fulfill their customers’ requirements. The primary purpose of the proposed paper, therefore, will be to explore the innovation and innovation activities of SMEs in Bulgaria, and therefrom, to draw the appropriate conclusions and make the relevant scientific generalizations. To that effect, a survey was conducted among 68 SMEs from the food and beverage industry on the territory of Bulgaria, in view of which further guidelines were formulated as to the improved efficiency of their innovation activities.