The article observes the current state of small business development in Ukraine during the COVID-19 pandemic and martial law. The basic principles of the functioning of small businesses in modern conditions are distinguished. Based on the carried out research, the state and prospects for the development of small businesses during martial law were analyzed. The main general problems faced by the majority of enterprises in Ukraine, regardless of the form of ownership and regional affiliation,

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... been identified, thereby highlighting specific problems depending on the regional affiliation. It is proved that production volumes for the analyzed period decreased by virtue of the fact that most small businesses stopped their work because of the lack of raw materials and supplies accompanied with unsafe working conditions. A number of priority tasks on the part of the State, which should facilitate the development of small business in the post-war period, are singled out. It is determined that government support for the formation of an appropriate favorable climate for starting own business by optimizing regulatory and legal support in matters of formal signs should contribute to the opening of a business for all interested. It is determined that the use of international assistance in attracting additional funds for the development of enterprises that use the principles of «green» ecology, are engaged in the cultivation, processing and export of agricultural products, will contribute to the formation of new jobs in rural areas. On the basis of the programs developed by the government to stimulate the development of small businesses, the main tasks that must be fulfilled for the implementation of the proposed measures have been formed. The main measures to stimulate entrepreneurial initiatives include the following: preferential lending to small businesses, tax holidays, targeted financing of regional programs.