Conceptual potential of smart specialization in the development of the innovative economy of small and medium-sized businesses in the regions

The interpenetration of global challenges and local threats accelerates the transition to more innovative and digital economic models, adopting a balanced approach that prioritizes economic growth, environmental protection, and equal access to resources, benefits, and opportunities for all members of society. In the extreme conditions of war, with limited resources and an urgent need for accelerated production, business plays a crucial role in supporting the economy and stability, demonstrating resilience, adapting to the external environment, retaining employees, and even planning for further development. Critically important for the regions is the small and medium scale of its operation, which stimulates economic growth, mitigates social tensions, and contributes to market saturation, supporting their livelihoods.