Recently, the implementation of innovation, scientific achievements and new technologies in business, has obtained a global nature, and is becoming one of the factors strengthening the competitiveness of business. However, innovation in the agricultural business, has carried out carefully and only in short-term prospects in the context of economic development. The aim – to explore the theoretical assumptions of business development in implementation of innovation and to define the opportunities for innovation development in agricultural business. The research methodology consists of: the theoretical analysis of assumptions about innovation in business development; and empirical analysis of the potentials of agriculture development and case study analysis of agricultural business. The investigation using the scientific literature and documentary sources; content analysis; participatory approach; and diagnostic methods of interconnections were carried out. The assumptions for the development of innovation in business and opportunities for innovation in agriculture development were defined.
JEL Codes: M21, O13, O32, Q13.