Competitiveness Through Innovation

Abstract

Innovation is a key condition in the context of the need to enhance the competitiveness of the Bulgarian economy. The assessment of innovation processes in the country should be based on the context in which the country’s economy has been developing since last years. The National Statistical Institute reports a number of times during which significant economic growth will not be achieved. Domestic consumption and investment activity remain low due to the lack of good quality new business projects and low revenues. In such circumstances, innovation and the development of entrepreneurial activity are developing very slowly because of the problems mentioned above, but also because of a lack of purposeful state policy. The purpose of this research is to present the importance of innovation for economic development, without delving into the major problems that innovative enterprise in the country face.