Keywords: innovation, innovative product, innovation market, innovative activity, innovative enterprise development, innovative potential, labor market, labor resources, competitiveness, enterprise finances.


Topicality. Today, the profitability of the enterprise is the main indicator of economic stability, competitiveness, efficiency and the meaning of the creation and further existence of the enterprise in any field of activity. The main goal of the strategy for the development and efficiency of the enterprise is to ensure a sufficient level of competitiveness and obtain maximum profit, therefore, the search and justification of ways to increase the profitability of enterprises is always an urgent problem. In the modern world, during the period of active development of scientific, technical and innovative activities, the introduction of innovations into the activities of enterprises has a huge impact on the level of profitability of modern enterprises.
Aim and tasks. The purpose of the article is to study the impact of innovative activity on the level of profitability of enterprises. In order to achieve the set goal, the following tasks were solved: the concepts of innovative activity and profitability of the enterprise were considered; the influence of innovative activity on the level of profitability of the enterprise is determined; the main indicators of innovative activity of Ukrainian enterprises are analyzed.

Materials and methods. In the process of preparing the study, general scientific methods of cognition, observation, abstract-logical thinking, a systematic approach, and economic interpretation were used. Methods of a systematic approach to solving problems, as well as analysis, synthesis and unity of logical analysis and dialectical development, historical approach, statistical hypotheses and relationships, expert research.
Research results. The article examines the concept of innovative activity and enterprise profitability; the influence of innovative activity on the level of profitability of the enterprise is determined; the main indicators of innovative activity of Ukrainian enterprises are analyzed. Directions for profit maximization and measures aimed at increasing the profitability of enterprises are proposed.
Conclusion. The profitability of any enterprise can be increased due to the implementation of the results of innovative activities. The introduction of innovations makes it possible to produce products of higher quality and less energy consumption, and the operation of the enterprise is more efficient. But it can be said that one of the main problems of introducing innovations at enterprises is the unpreparedness of management to implement them in their economic activity. Although the efficiency of their use can significantly improve the profitability of business entities. Innovative activity is the direction of maximizing the demand for products, as a variety of forms of business organization, as a stage of the enterprise's innovative business strategy. The development and state of the innovation environment affects the level of profitability of enterprises. The introduction of innovations, the implementation of innovative activities at the enterprise allows to form such areas of profit maximization as: product, technological, organizational and management, resource, market. For the development and activation of innovative activities of domestic enterprises in the country, it is necessary to form and implement a system of targeted measures: development and introduction of a mechanism for granting benefits to enterprises that implement and realize the results of innovative activities; providing innovative enterprises with loans at a reduced credit rate; reduction of income taxation of enterprises that develop, implement innovations and use ecologically dangerous technologies, etc. The proposed measures will help create a favorable innovation climate, stimulate enterprises to increase their interest in the development and implementation of knowledge-intensive technologies, which in turn will lead to an increase in their profitability and competitiveness on the world market. In the country, there is no sufficient relationship between the amount of innovation financing for industrial enterprises and their own capital, the implementation of the results of innovation activity at domestic enterprises is expedient in order to increase their profitability, to determine an innovative development strategy, to make management decisions and increase efficiency and competitiveness. The prospect of further research in this direction is the identification of the relationship between the innovative activities of enterprises and their value indicators in the sector and the development of a universal model for assessing the impact of the innovative development of the enterprise on its profitability.

Author Biographies


Candidate of Economic Sciences. Associate Professor
Odessa National Technological University
112, Kanatnaya street, Odesa, Ukraine, 65039


Teacher Methodist, Chairman of the Cycle Commission of Economics of Odessa Professional Technical College Odessa National Technological University
54, Balkovskaya street, Odesa Ukraine, 65008


Master's student
Odessa National Technological University
112, Kanatnaya street, Odesa, Ukraine, 65039


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© 2022 The Author(s). Published by SO IMEER. This is an Open Access article under the CC BY 4.0 license.
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