https://doi.org/10.56079/20223/3     

Taking into account the global conjuncture at the modern stage, innovations and cognitive thinking play a key role in the effective development of small and medium-sized businesses. The rapid development of digital technologies and the emergence of diverse digital platforms gave an impetus to the transformation of entrepreneurial behavior and the conduct of entrepreneurial activities from the real to the virtual sphere.
A special sector of private business - small and medium enterprises play an important role in the development of the economy and contribute significantly to ensuring sustainable and inclusive economic growth. Small and medium-sized enterprises, with the potential of employment growth and job creation, as well as their contribution to the development and growth of the economy, can be the cornerstone of the economy of any country in the world.
The impact of the COVID-19 pandemic on small businesses since December 2019 and the need to adapt to new conditions has created an urgent objective need for the introduction of digital technologies and the urgency of effective use.
Any force majeure circumstances: natural disasters, wars, social conflicts, epidemics and especially global pandemics have a significant impact on the long-term development of society and people's lifestyle. While the current COVID-19 pandemic is not the first in recent history, it is the first pandemic in the era of digital entrepreneurship, where the majority of our business models and value-creating enterprises are based in one way or another on digital communication and the internet.
From the 20s of the 21st century, business began to move from the traditional non-virtual model, where a physical place needed to conduct business activities, to a digital model, where web sites and e-commerce platforms are increasingly used for daily business operations.
The measures to contain the COVID-19 pandemic (strict isolation, social distancing, etc.) have fundamentally changed the economic and business landscape, accelerating the transition to predominantly digital business models in many regions of the world, as firms in the small business sector sought to reduce risks and maintain operations in the face of COVID-19. In the post-pandemic world caused by Digital technologies have begun to play a key role in the development of small businesses, with the impact of the COVID-19 pandemic highlighting the relevance of its use, as digital technologies have become the focus of attention and become a driving force for economic development.
Despite the rapid growth of digital entrepreneurship, the transition to the 5th and 6th technological modes, the digitalization processes were significantly accelerated by the global pandemic of COVID-19, which stimulated the development and implementation of digital technologies not only in large, but also in small and medium-sized businesses.
In order to determine the main trends in the transformation of small business models during the global pandemic, it is necessary to take into account the general processes of digitization in the previous quarantine period in order to reveal the dynamics of the introduction of digital technologies in the development of small enterprises using analysis and comparative methods.
To identify the main trends in the use and development of digital technologies in the field of small businesses during the global pandemic, while focusing on the main changes that have taken place in the activities of small businesses during the COVID-19 pandemic. As a result of the research, the main changes and trends that occurred in the activity of small businesses during the COVID-19 pandemic were identified, and actual conclusions were formed on the possible directions of the development of small and medium businesses in the new reality using digital technologies.
The COVID-19 pandemic has contributed to the digitization of small businesses, mainly due to the forced need to switch to remote work and use digital technologies not only to keep in touch with employees, but also to maintain close contact and trust with customers. Nevertheless, managers have not yet tried actively investing financial resources in training employees, mastering digital technologies at a high level, and developing information security, because historically the main problem on the way to digitization is the lack of financial resources, which has become especially acute during the global pandemic, both in developed and developing countries.
Undoubtedly, it should be taken into account that it is impossible to establish universal methods to overcome the existing barriers and develop the digital component of small business, because each company must develop its own individual strategy. Taking into account the existing digital capabilities, budget, business culture, etc. digitization of small businesses does not need to radically change business models, as digital transformation can be implemented gradually and at different levels according to changes.
Along with the fight against the global pandemic crisis in different ways, the new reality has created the need for remote work and telecommunications for business. A third of small and medium enterprises turned out to be fully ready for these challenges. It should also be mentioned that as the size of the companies increases, the business infrastructure and digital technologies for effective work in remote mode (on line) are greater.
In the face of a global pandemic, small business enterprises can choose three paths: accelerate digitization, digitize sales functions, and find digital partners to go to market. The decision to choose one of the three digital transformation options is determined by the current level of digital maturity, business culture and history of digital technology adoption. We believe that digitalization of sales functions is essential in any scenario. It should be noted here that the movement towards the digital future is a purely individual approach for a specific business, regardless of the unity of strategies.
Along with the recommendations to be considered, the digitization of small businesses and the minimization of losses as a result of the COVID-19 pandemic require significant support from the state. In the age of digital technologies, one of the main priorities of any country in the world is the development of digital entrepreneurship and society based on cognitive skills through digital technologies.

Keywords: Global Pandemic, COVID-19 pandemic, small business crisis management, digital and cognitive technologies, e-commerce, digitization.
JEL Codes: M20, M21, M29