The article is devoted to the development of approaches to the digital development of small businesses in Russia, taking into account modern trends and challenges of the digital economy. The impact of program initiatives, such as the "Digital Economy of the Russian Federation", on small businesses and the need to revise legislative norms to stimulate their digitalization are considered. Particular attention is paid to the introduction of digital technologies in accounting, marketing, the use of data analytics and online platforms for interaction with clients. The importance of developing a digitalization strategy that takes into account financial and human resources, as well as emerging risks, such as cyber threats, is emphasized. The article illustrates the importance of digital solutions for increasing the competitiveness of small businesses in the context of global economic transformation.