Modern entrepreneurs operate during times of change and in circumstances of uncertainty. The environment where entrepreneurs operate is not stable and constantly develops. Strategic planning is a tool enabling us to adapt to the contemporary variable environment, set priorities, and propose important tasks. Every entrepreneur, in particular, an owner of a small enterprise, asks himself how to achieve effectiveness with fewer expenses. An entrepreneur organizes, manages the company, and takes risks every day. In turn, enterprises with a small number of employees often work more effectively and can respond faster to changes in the market than enterprises with a bigger number of employees. The world has become more dynamic; therefore, it constantly changes. Nowadays, the ability to adapt is very important for the entrepreneur. The entrepreneur has to understand the movement of the external environment in order to promptly change the internal environment of the company to the requirements of the customer. When talking about strategic management, attention always is paid to big companies, but this issue is rarely analyzed from the sector of a small enterprise. In terms, small enterprises are bigger developers; therefore, these companies need well-arranged and organized strategic planning and management. In countries with a developed economies, small enterprises are one of the most important parts of the market economy. Effective strategic planning is a prestige of a small enterprise. It is not sufficient only with a plan for the effective operation of the company, the plan should not only be established, but the plan should also work effectively, by modern requirements, in order to achieve the preferred result and effect. Relations between the buyer and the seller are dynamic, they constantly develop; therefore, the sellers have a task to convince the buyer that they are better than competitors, considering legislation and changes in other external circumstances, determining the growth. The topicality of the research - as far as the biggest proportion of enterprises in Latvia consists of enterprises with a small number of employees, it is considered that it is useful to introduce strategic planning in companies with a small number of employees.