STRATEGIES FOR ECONOMIC GROWTH OF SMALL BUSINESSES THROUGH INNOVATIONS IN PRODUCTION AND MARKETING

Introduction. Small businesses play an important role in the economy, contributing to job creation, entrepreneurship development and increased competitiveness. Innovations in production and marketing are key factors in the economic growth of small businesses, as they allow to optimize business processes, reduce costs and adapt to changes in the market environment. The research is aimed at determining effective strategies that contribute to the sustainable development of small businesses. Purpose. Justification of effective strategies for the economic growth of small businesses through the activation of the introduction of innovations in production and marketing processes. Materials and methods. The method of analytical generalization is used to research and systematize theories and approaches regarding the growth of small business. It allows you to analyze existing data, identify key success factors and innovative strategies in manufacturing and marketing, and identify research gaps for further innovation. The modeling method consists in creating simplified models of real processes of economic growth of small businesses with various innovative strategies. It helps to assess consequences and risks, as well as to choose optimal strategies for sustainable business development and making informed decisions in changing market conditions. The process comparison method is used to analyze different approaches to the implementation of innovative strategies in small business. It allows you to identify the most effective methods that ensure economic growth and adapt them to the specific conditions of the enterprise. The results. The analysis showed that innovative strategies in production, such as automation and the use of digital technologies, contribute to increased productivity and product quality. In marketing, innovative approaches, in particular digital marketing and personalization, make it possible to attract new customers and increase loyalty. Developed strategies ensure efficient use of resources and support long-term economic growth of enterprises. Discussion. Further research could focus on developing flexible innovative solutions for small businesses in rapidly changing market conditions. It is also promising to study the impact of the latest technologies, such as artificial intelligence and the Internet of Things (IoT), on increasing the efficiency of business management and attracting customers.