Business Commons^™

Why Smes Needs To Invest In Innovation?, Dorjana Feimi

UBT International Conference

History has amply demonstrated that innovation in the public and private sectors is the most important key to long-term prosperity and economic competitiveness. A recent OECD study using innovation surveys for 21 countries showed that firms receiving public support for innovation, invest 40% to 70% more than those that do not. Also, higher levels of firms‘ investment in innovation lead to higher innovation sales and productivity. Especially in countries in transition, they face a number of obstacles: administrative barriers, limited access to nance, lack of technology, entrepreneurial skills. Yet, these days Albania represents a deficit in innovation, with a poor …