INNOVATION-DRIVEN ACTIVITIES OF SMALL AND MEDIUM-SIZED ENTERPRISES  IN THE NORTH AND THE ARCTIC: INSIGHTS FROM THE KOMI REPUBLIC

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Arif P. Shikhverdiev1, Andrey A. Vishnyakov2, Nina A. Oganezova3

1, 2, 3Pitirim Sorokin Syktyvkar State University, Syktyvkar, Russia

1shikverdiev@yandex.ru, ORCID 0000-0002-2969-3053

2aavishnyakov@mail.ru, ORCID 0000-0003-1532-1010

3ninok0112@rambler.ru, ORCID 0000-0001-6189-6021

Abstract. In the contemporary context, fostering the development of Russia’s northern and Arctic territories through  an innovation-oriented approach is essential. This necessitates boosting the innovation-driven activities of small and medium-sized enterprises (SMEs), with government support playing a key role. Using the Komi Republic as a case study, this article aims to identify the factors hindering the innovation-driven development of SMEs in the North and the Arctic from  the perspective of SME stakeholders. It also seeks to propose recommendations to address these challenges, including improving the effectiveness of government support measures and advocating for the development and implementation  of a more efficient corporate governance system tailored to SMEs. The study identifies key barriers preventing the full utilization of innovative potential, evaluates the effectiveness of existing government support mechanisms for SMEs  in northern and Arctic regions (with a focus on the Komi Republic), and proposes measures to foster innovation-driven activities among SMEs. The scientific contribution of this research lies in formulating a set of policy recommendations to strengthen government support for innovative SMEs and in developing and substantiating elements of a corporate governance framework as a more advanced organizational model. This model is designed to address the challenges and risks impacting the ecosystem of innovative SMEs in the North and Arctic. The findings of this study provide a foundation for the development of additional regional policy measures aimed at fostering innovation among SMEs in these regions. Moreover, they contribute to further research on the role of SMEs in ensuring regional economic security and mitigating population outflow, as well as guiding improvements in the corporate governance structure within the entrepreneurial ecosystem.

Keywords: innovation-driven activity, corporate governance, small and medium-sized enterprises, the North, the Arctic

For citation: Shikhverdiev А. Р., Vishnyakov A. A., Oganezova N. A. Innovation-driven activities of small and medium-sized enterprises in the North and the Arctic: Insights from the Komi Republic. Sever i rynok: formirovanie ekonomicheskogo poryadka [The North and the Market: Forming the Economic Order], 2025, no. 1, pp. 149–162. doi:10.37614/2220-802X.1.2025.87.010.

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