SWOT ANALYSIS AS AN INSTRUMENT OF A STRATEGY FOR THE DEVELOPMENT OF SMALL BUSINESS ENTITIES
The article assesses the need for a SWOT analysis for small business entities and emphasizes its importance in strategic planning of the company. The stages of the implementation of the strategic analysis method are determined. The author presents a model for the development of small businesses based on the SWOT analysis, considering its advantages and disadvantages, and summarises the main errors in the application of the studied method. Thereafter it is concluded that there is the need for a strategic analysis of the activities of small business entities.