Government institutional support for fostering SME’s innovation in Western Balkan Countries
Government institutional support for fostering SME’s innovation in Western Balkan Countries

Summary/Abstract: In 21st Century, the dynamic changes in technology and customer preferences on the market, influences a need for innovation and company orientation to design and implement new products, services or process. Compared to the large enterprises, flexibility to market changes is a certain advantage for small and medium enterprises (SME’s). In general, SME’s are able to implement innovations for a shorter period of time and are main drivers of sustainable growth, job creation and innovation, creation of new bussiness and products. As a critical parts of innovation process in different countries, SME’s should take central place in government strategies for increasing innovation. Despite their importance, SME’s and entrepreneurship support is not yet fully embedded in innovation policy, and the requirements for effective policies in this area are still not enough understood. The Western Balkans countries, including Republic North Macedonia, recognised the importance of innovation policy and strategy for the development of SME’s. In this paper, a theoretical and comparative analyses of the policies and infrastructure for fostering innovation has been implemented, with accent on the government institutional support for innovative SME’s as sub-dimension for creating and implementing the innovation policy in Western Balkans countries.

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