INNOVATIVE ENTERPRENEURSHIP DEVELOPMENT MANAGEMENT ON MACRO LEVEL

Government policy issues and approaches of improvement innovative entrepreneurship are considered in the paper. Elements intervention on were described. The way firm innovate nature their contributions to innovation varies depends critically characteristics conditions they face engage innovation. “technology push” “market pull” models provide two perspectives Innovation output may differ along several dimensions, including type impact can play a critical role addressing socio-economic objectives, which affected by following factors: economic growth employment, environmental challenges, social challenges. Innovative contribute challenges formalizing informal sector. main address associated for deal with: institutional governance, strategy coherence policies, policy-making contexts entrepreneurship. Achieving balance set policies affecting entrepreneurship, coordinating various actors involved these have, consequently, become increasingly important efficiency. Specific rationales public policies: access finance, knowledge, labor, entrepreneurial capabilities culture, market development access, regulatory framework. Access finance is key driver creation, survival new ventures. Within context ways: debt financing, venture capital, business angels, private sources funding. financing issue businesses. It allows them growth, meet working capital requirements invest Relevant entrepreneurs alternative types loans, such as convertible subordinated loans. Convertible loans give lenders right convert credit into an equity participation company, whereas junior forms that, case insolvency, have lower priority than senior (e.g. asset-based lending). They riskier but pay higher interest rates.