THE IMPORTANCE OF DIGITALIZING SMALL BUSINESS AND PRIVATE ENTREPRENEURSHIP IN THE CONDITIONS OF DIGITAL ECONOMIC DEVELOPMENT
Keywords:
KEYWORDS: economic digitalization, small business, private entrepreneurship, digital technologies, e-commerce, artificial intelligence, cloud technologies, IoT, data analytics, digital economy, customer experience, innovation, cybersecurity, automation.Abstract
ABSTRACT. This article analyzes the process of economic digitalization, its impact on small business and private entrepreneurship, and its role in the modern economy. Digital technologies — including e-commerce, cloud services, artificial intelligence, IoT, and digital platforms — are highlighted as key factors in increasing enterprise efficiency, opening new markets, and reducing costs. In addition, the role of digitalization in data-driven decision-making, personalization of customer experience, and optimization of operational processes is examined. The study also analyzes the existing challenges of digitalization alongside its advantages, including initial investment requirements, lack of technological knowledge, and cybersecurity issues. The results indicate that digitalization is an important strategic factor in enhancing the competitiveness of small businesses and ensuring economic growth.
