CONTEMPORARY CHALLENGES IN MANAGERIAL DECISION-MAKING IN SMALL BUSINESSES

Managerial decision-making in small businesses has become increasingly complex in the context of rapid economic, technological, and social change. Unlike large corporations, small enterprises operate with limited resources, higher vulnerability to external shocks, and a strong dependence on the personal competencies of owners and managers. This paper explores contemporary problems in managerial decision-making in small businesses from an international and theoretical perspective. It examines how uncertainty, information asymmetry, digital transformation, human capital constraints, financial limitations, and institutional environments shape decision-making processes in small firms. Particular attention is given to the role of intuition versus analytical approaches, the impact of digital tools on decision quality, and the psychological and behavioral factors influencing small business managers.