The swift adoption of digitalization and transformation within enterprises and their operations had commenced prior to the onset of COVID-19, characterized by the shift towards Industry 4.0 and subsequently progressing towards Industry 5.0. However, mandated restrictions significantly amplified the necessity and drive to utilize digital tools for both businesses and consumers. New opportunities previously not utilized have arisen yet are hand in hand with several risks linked to the use of these new digital tools. The bioeconomy sector is not an exception. The study aims to consider the sector representatives’ opinions on the significance of the risks related to digitalization. The empirical results of this study stem from a survey of enterprises in the bioeconomy sector carried out in 2020 and 2021 in Latvia. The research results prove that there are many factors influencing the development of digitalization. The results notably affirm that both entrepreneurs and employees in SMEs recognize the considerable importance of these risks, particularly emphasizing the significance of security and technology risks. While the Chi-Square Test of Independence indicates a notable association between risk evaluation scores and the education level of respondents before the COVID-19 outbreak in 2020, this association diminishes in 2021. Contrary to the hypothesis that individuals with higher education levels are more attentive to risks, the evidence shows inconsistency in their perception, particularly regarding professional challenges of the entrepreneur and employees to use digital tools and other risk categories. However, the relationship between higher education levels and the significance of risks pertaining to security risks, technology risks, and the skills of the clients to use digital tools is partly affirmed.

Financial support of companies for their development is considered and realised by many countries worldwide, also in Latvia. Latvia has been receiving critical remarks from entrepreneurs in regard to high level of refuse for financing from the financing institution ALTUM which is the principal intermediary of EU funds and provides resources to support entrepreneurship in Latvia. Statistical data indicate that there are significant reductions of micro-enterprises during recent years. The survey data showed that ALTUM rejected 39 % of the surveyed micro-enterprises from those who had submitted applications within three years. In turn, only 6 % of micro-enterprises have received full financing from banks or leasing companies. Funders rejected applications from 9 % of micro-enterprises while another 5 % themselves withdrew funding due to unacceptable conditions. Latvia has to address serious challenges in entrepreneurship development in regions in particular with a lower economic activity. The aim of the paper is to analyse situation of micro-enterprises for receiving funding. Research methods: analysis of scientific publications and results of previous conducted research, analysis of data obtained in survey of enterprises on questions of financing refuse and on evaluations related to financing conditions in recent years. For a more thorough data analysis (used evaluation scale 1-5) indicators of descriptive statistics are applied: indicators of central tendency or location – arithmetic means, mode, median; indicators of variability or dispersion – range, standard deviation, standard error of mean; cross – tabulations; testing of statistical hypotheses using t-test and analysis of variance – ANOVA; correlation analysis. Research results indicate that the use of more precise requirements of financing for micro-enterprises by finance institution ALTUM could benefit in better development of entrepreneurship in regions of Latvia.

Sustainability, green growth and the European Union Green Deal principles are the cornerstones that should and will affect our lives. The aim of the paper is to provide possible improvements to higher education programmes to promote the implementation of the EU Green Deal as a factor for changes in business. The research is based on investigations into the entrepreneurship students’ knowledge of the EU Green Deal. A theoretical analysis of literature and policy documents were investigated to develop an appropriate questionnaire for the survey of Latvian university students. The research methods involve measures of central tendency and location, T-test, ANOVA and correlation analysis. The research results indicate that business curricula involve courses on Sustainable Development and universitiesʼ role in teaching the Green Deal because the students who hold experience in entrepreneurship report similar results if compared with students without experience in entrepreneurship. Students’ knowledge of the EU Green Deal should be improved since there are a number of aspects where the answers were not correct. This, in turn, prompts the need to strengthen and diversify education, so that business transformation towards the Green Deal is successful. The curricula should be further improved, as it allows students to better understand EU and global trends in saving the planet and put the knowledge into practice in their companies.

Purpose – to examine the Latvian micro-enterprises having indicated the external financing as an important factor for their development. Research methodology – the results of the ad hoc survey (WAPI) on companies registered in Latvia in nationally defined sectors are used. Valid responses were received from 2.511 companies, of which 1.879 were micro-enterprises, the results were processed by using the SPSS programme. Findings – micro-enterprises that have not received the necessary external financing in previous years were less sustainable in the later period. Of the liquidated micro-enterprises examined, 16% were closed in 2020. Research limitations – the study highlights the impact of the availability of finance factor on the survival of micro-enterprises. Practical implications – the findings are useful for business support policy makers to identify preventative measures to ensure the resilience of micro-enterprises in times of economic turmoil when the spread of the Covid-19 has affected economy. Originality/Value – although scientific research on the need for financial support for companies has already been conducted in recent years, our study emphasizes the importance of access to finance for micro-enterprises.

The European Union's Green Deal (GD) is crucial in shaping future business practices through sustainability principles. This paper examines potential improvements in higher education curricula to support the GD as a catalyst for business transformation. A quantitative study assessed entrepreneurship students' knowledge and expectations of the GD, using T-tests and factor analysis. The findings indicate that while there are sustainable development courses in the business curricula, students' understanding of the GD can be improved. The results emphasize the need for more robust educational initiatives that equip students with practical insights into EU sustainability policies. Three components were identified through Principal Components Analysis: Business Growth & Competitiveness – Differentiating optimistic businesses (expecting revenue and productivity growth) from those anticipating revenue decline; Financial Burden & Cost Expectations – Reflecting concerns over rising expenses versus expectations of cost savings; Competitive Advantage & Survival – Capturing confidence in businesses’ future market position in response to the GD. Cost concerns are a significant factor, with businesses divided between those expecting efficiency-driven cost reductions and those anticipating increased expenses. The role of education is paramount in bridging these gaps. Higher education curricula should enable students to integrate green practices into future business models and contribute effectively to a sustainable economy.

Several studies have found that e-commerce can have a positive impact on any type of business. Some surveys show that the use of e-commerce in Latvia is a problem for most companies in the SME sector; however, there is still a lack of in-depth research to justify the directions of action contained in strategic policy documents. The purpose of the article is to provide analysis of external and internal factors that affect the use of electronic commerce in the SME sector. The Analytic Hierarchy Process (AHP) was used to identify the factors that most positively and negatively affect the e-commerce development of companies. Data from the expert survey were used to conduct the analysis with the AHP method. 17 experts from the state administration, academia and the business environment participated in the survey, who assessed the impact of various internal and external factors on the use of e-commerce in companies. Since the application of e-commerce in companies is one of the measures for faster recovery of the state of the national economy, including developing the export of the SME sector in the post-COVID-19 pandemic period, recommendations have been prepared for public and commercial organizations to have a positive impact on the use of e-commerce in SMEs.