Innovation is considered as one of the factors of business success, as well as a generator of economic growth and development. Micro- enterprises in the Republic of Croatia have a growing contribution to economic development and it is important to monitor the level of innovative activities and in line with the available data, investigate the link between innovation and business performance. Despite the great importance of innovation activities for business success and business growth, microentrepreneurs innovation activities have still not been sufficiently explored in the Republic of Croatia. There are regional developmental disparities in the Republic of Croatia, and for this reason, this paper focuses on the Slavonia and Baranja regions (there are five counties) whose macroeconomic indicators are below the average of the Republic of Croatia. The sample in this survey were successful and unsuccessful micro entrepreneurs from manufacturing industry, construction industry and agriculture, forestry and fisheries. The results of earlier inquiries conducted in 104 micro enterprises in the Slavonia and Baranja region have shown that the assessment of the importance of innovation is linked to the business success achieved by micro enterprises and that there is a correlation between the number of new or improved services from micro enterprise performance. The aim of this paper is, based on the same research, ranking the counties of the Slavonia and Baranja regions according to perception and the actual performance of the business and calculate the correlation (Spearman's rho) between the ranks of the perception of the importance of innovation for business success and the ranking of really achieved results EBITDA Margin, ROE, growth rates of operating revenues, number of years of positive business in the last three year and level of success of micro enterprises measured with values 0-12. The results showed that none of the calculated correlations was statistically significant.