The Role of Innovative Approach in Small and Medium Enterprises
The Role of Innovative Approach in Small and Medium Enterprises

Summary/Abstract: In economically developed countries of the world and in our country, the sector of small and medium enterprises has been recognized as one of the main pillars of economic stability and economic development. The European Commission has drafted a framework program for initiating the competitiveness and innovation in the field of small and medium-sized enterprises. The innovative approach always puts into operation all the potential resources available. Innovative companies accept the philosophy that there’s always a better way of doing business and they search for new ideas that will increase their value and reduce costs. To accelerate the component of innovation in small and medium enterprises, the market offers consulting services aimed to provide for companies recommendations and advice in order to improve existing business or resolve problems within certain areas of business.

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