MODERN TRENDS AND PROBLEMS OF SMALL BUSINESS DEVELOPMENT
Keywords:
small business development, SMEs, digital transformation, innovation, globalization, financial access, sustainability, entrepreneurship, institutional environment, economic growth.Abstract
This article examines modern trends and key problems in the development of small businesses (SMEs) in the context of globalization, digital transformation, and increasing market competition. The study analyzes recent academic literature and highlights the growing importance of digital technologies, innovation capacity, financial accessibility, and institutional support in ensuring SME sustainability and competitiveness. It also identifies major challenges such as limited access to finance, regulatory barriers, skill shortages, and unequal digital adoption across regions. The findings show that while digitalization and globalization create new opportunities for small business growth, structural constraints continue to limit their full potential, especially in developing economies. The study concludes that strengthening digital infrastructure, improving financial inclusion, and enhancing human capital are essential for sustainable SME development in the modern economic environment.
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