SUSTAINABILITY OF INNOVATIVE ACTIVITIES IN SMALL ENTERPRISES AND PRINCIPLES OF RISK MANAGEMENT

Agazade Elnur Aghshinoglu

Small businesses bear a significant share of the economic burden and simultaneously act as the main driving force of the economy. Their sustainable operation largely depends on the effectiveness of innovative development. International research confirms that small businesses' innovative activity plays a key role in their long-term development. However, in this area, small businesses face numerous challenges and risks. Therefore, creating a sustainable innovative economic environment and improving the effectiveness of risk management in small businesses are crucial strategic conditions for their development. This article examines the key factors influencing the sustainable development of small businesses and the development of fundamental risk management principles.

Keywords:small enterprises, innovative activity, sustainability, risk management, state support, economic development, competitiveness.