Innovative approaches and strategic management principles in small business development

Abstract

This article analyzes the importance of innovative approaches and strategic management principles in
small business development. Although previous studies have emphasized the importance of innovative strategies
for the stability and competitiveness of small businesses, the influence of internal and external factors on this process
has not been sufficiently studied. The study uses qualitative analysis and SWOT analysis methods to identify factors
affecting the innovative development of small businesses. According to the results, it was found that the long-term
success of small businesses is associated with the correct planning of innovative strategies and effective manage
ment of resources. These conclusions are important for the introduction of modern approaches to managing small
businesses, improving state policy, and developing recommendations for the development of the entrepreneurial
environment