DIGITAL INNOVATIONS IN SMALL BUSINESS DEVELOPMENT
Abstract
The article examines the role of digital technologies in the development of small business in the context of modern economic challenges. The confirmations of the European Commission and the World Economic Forum regarding the importance of digitalization for creating added value and increasing the efficiency of enterprises are highlighted. The dynamics of the implementation of digital technologies in small businesses during 2018-2022 and their impact on economic development are analyzed. The key advantages of digital transformation have been identified, such as a reduction in transaction costs, an increase in turnover and improved interaction with customers and suppliers. Special attention is paid to the role of state support in Ukraine, in particular through the Diya.Business platform, as well as digital innovations implemented by national banks and logistics operators. The key advantages of digital transformation have been identified, such as a reduction in transaction costs, an increase in turnover and improved interaction with customers and suppliers. Special attention is paid to the role of state support in Ukraine, in particular through the Diya.Business platform, as well as digital innovations implemented by national banks and logistics operators. The article examines the reasons for the slow adoption of digital technologies in small businesses, including limited resources and management competencies. Investigates the impact of technologies such as blockchain on improving the security and efficiency of small businesses' business processes. The article formulates the importance of digitalization for increasing the competitiveness of small businesses in the conditions of globalization and suggests strategies for accelerating digital transformation in Ukraine. It is indicated that the expansion of the use of digital innovations in the activities of small businesses in Ukraine will provide opportunities for national business units to compete and integrate into the economic space of the European Union, which is determined by the policy of changes based on digitalization. It is noted that the rate of economic growth in Ukraine will depend on its ability to use digital technologies, for which it is necessary to develop specific methods with defined indicators, which may be the subject of further research.
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