Analysis of enterprises with innovation activity with emphasis on enterprise size

University of Žilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics, Univerzitna 8215/1, 010 26 Žilina, Slovakia

^* Corresponding author: katarina.janoskova@fpedas.uniza.sk

Abstract

Research background: Small and medium-sized enterprises (SMEs) play a crucial role in European economic. They are very important for the stability of national economy and for development of innovation. SMEs significantly contribute to innovation because they are under permanent pressure of competitors at the market. On the other hand, innovation in SMEs is hampered by many factors, such as lack of finance, lack of personnel, no experiences, insufficient public policy, etc.

Purpose of the article: The main goal of the article is examining the impact of business size on innovation activity and thus confirm the irreplaceable importance of SMEs in the innovation ecosystem, compare innovation activity of Slovak SMEs with EU average.

Methods: Several methods were used to achieve the goals. Demonstrating the close relationship between innovation and SMEs is realized through VOSviewer software. Comparison of innovation activity of Slovak SMEs with European Union average is realized through an in-depth analysis of selected indicators of Summary Innovation Index.

Findings & Value added: SMEs are indeed the creator of innovation. Based on the results of bibliometric analysis, this fact can be confirmed. The innovation activity of SMEs in the Slovak Republic is below the EU average. This fact is caused by several limitation and problems that SMEs in the Slovakia have to face.