Barriers and opportunities for hi-tech innovative small and medium enterprises development in the 4th industrial revolution era
Date
2017
Journal Title
Journal ISSN
Volume Title
Publisher
LLC “Consulting Publishing Company “Business Perspectives”
Abstract
High-tech innovative SMEs’ development plays crucial role in economic growth of every country. It creates new work places and infrastructure, motivates people for creating new ideas. At the same time, SMEs still face with a huge number of problems inthe business performance. The purposes of the research are: to define main barriers for high-tech SMEs’ development in the 4th industrial revolution era (4IR); to work out recommendations for policy-makers towards intensification of SMEs’ potential.
For this purpose, the authors reviewed studies devoted to the SMEs’ innovative development and revealed that main barriers of SMEs’ development are related to inefficient government support in this sphere. In order to work out recommendations for Ukrainian policy-makers in the area of SMEs’ development, the authors conducted a survey of local high-tech SMEs and on the basis of SWOT-analysis distinguished the main directions for their further improvement. Finally, a set of recommendations for improving SMEs’ environment in Ukraine, taking into consideration the challenges of the 4th IR, was developed.
For this purpose, the authors reviewed studies devoted to the SMEs’ innovative development and revealed that main barriers of SMEs’ development are related to inefficient government support in this sphere. In order to work out recommendations for Ukrainian policy-makers in the area of SMEs’ development, the authors conducted a survey of local high-tech SMEs and on the basis of SWOT-analysis distinguished the main directions for their further improvement. Finally, a set of recommendations for improving SMEs’ environment in Ukraine, taking into consideration the challenges of the 4th IR, was developed.
Description
Keywords
innovation, SME, Fourth Industrial Revolution, hightech, government support
Citation
Barriers and opportunities for hi-tech innovative small and medium enterprises development in the 4th industrial revolution era / Larysa Antoniuk, Iuliia Gernego, Vyacheslav Dyba [et al.] // Problems and Perspectives in Management. – 2017. – Vol. 5, Iss. 4. – P. 100–113.