Strategy formation of innovative development as the basis of socio-economic security of small businesses

The article reveals methodical approaches to strategy formation of innovativedevelopment of small businesses. The authors define the capabilities andlimitations of these approaches as tools to ensure socio-economic security ofsmall enterprises. It is determined that evaluation of success of the innovativedevelopment strategy of small businesses in modern conditions should beimplemented by a combination of approaches. To solve the problem of ensuringsocio-economic security, it is proposed to apply the ranking of innovation,to improve the system of incentives and create conditions for the growth ofinnovative activity of the personnel. To form an innovative development strategyas the basis of socio-economic security for small businesses, it is recommended todevelop the assessment of key competences, which are the basis of formation ofcompetitive advantages and innovation potential of small enterprises.