FACTORS HINDERING THE DEVELOPMENT OF «SMART» INNOVATIONS

The outbreak of the COVID-19 coronavirus in 2020 had a negative impact on the development of the entire global economy. However, it helped states to realistically assess their internal capabilities and potential, as well as to determine new horizons and directions for the strategy of innovative development. As a result, new business opportunities and challenges are opening up for small businesses and entrepreneurship in solving the national strategic goals of the country. The purpose of modern innovation is not only to make a profit through competitive advantage, but also to solve more noble issues and social problems. Modern innovations should be focused on the needs of society [1].

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