The choice of the innovation strategy, the selection of ideas, which are the best means of implementing the strategic innovation goals of business entities, requires the allocation of varieties of innovations and their implementation in the case of selecting the best innovative strategies and the rejection of outdated innovation. The methodology to choose the innovative strategy of economic entities’ development is offered. This methodology is based on a system of indicators and calculation of integral indicators of the enterprises’ innovative activities: innovation intensity, risks of innovation, strategic innovation capacity. The formulas for calculating integral indicators of risk assessment of economic entities innovation activity, the intensity of innovation activity, strategic innovation potential has been presented. In the calculation method for the indicated integral indicators it is necessary to conduct an analysis in accordance with the proposed indicators of innovation activity and to evaluate the indicators of the base period of the activity of the investigated economic entity or degree of their deviation from the normative, or on the basis of expert assessments in case of absence of quantitative information on the organization’s activities. The system of indicators for choice of the business entities’ innovation strategy, characteristics of innovation strategies, indicators and scale of innovation strategy selection as well as interpretation of integrated indicators assessment have been proposed. The innovative strategies for the business entities development include the following types: active generator strategy; active innovator strategy; active simulator strategy; active and passive strategy of the innovator; active-passive strategy of the simulator; passive simulator strategy; active conservative strategy; active and passive conservative strategy; passive conservative strategy. Suggestions for choosing innovative strategies for the business entities’ development have been proposed. Proposed indicators of the selection of the innovation strategy indicate a certain level of quality control by each of the considered component. This approach provides the solution of practical problems of business entities in case of different innovation implementations and gives them the opportunity to become activators or full participants in the innovation process.