Innovative SMEs in the globalised economy

Abstract

The current stage of development of the world economy places new demands on all economic units, but particularly on transnational corporations and small and medium-sized enterprises. Globalisation supports and promotes innovative enterprises, whether large (TNCs) or small (SMEs). It is a two-way process, with both sides winning. In this context, the external factor is a determining factor in the development of innovative SMEs, which contribute to the expansion of 'globally born firms'. And their participation in global value chains is the best way to be competitive and to ensure an export potential adequate for sustainable economic growth. In this context, identifying priority development directions and analysing export potential become the main issues for small economy countries, which would focus on stimulating the performance and innovation of economic units, primarily SMEs. DOI: 10.30888/2663-5712.2023-22-03-050