Many business models are built on the basis of competitive strategies. Meanwhile, the core element of several competitive strategies is value gained by consumers as they consume the product and also by entrepreneurs as they create and sell the product. Purpose. The purpose of the article is to analyze existing business models and on the basis of this analysis to offer the most suitable business model in e-environment for small and micro enterprises of Latvia. The analysis is based on the evaluation of role and value in context of different competitive strategies. Methodology. The theoretical and methodological background of the article is based on scientific research, publications in mass media and professional literature, as well as information obtained by the authors during the research process. The authors employ well known research methods like content analysis, statistical analysis, field research; expert method, as well as mathematical methods for data assessment, comparison and visualization. Results. In the article, the authors analyze the value concept within context of management competitive strategies. Based on the field research and expert method, the authors analyze the value of the company life cycle, to point out which stages are mostly linked to the application of electronic environment for development of business model and creation of the company value. Upon analyzing various business models, the authors of the article have come to a conclusion that the Osterwalder’s Business Canvas is the most suitable model for the enterprises, especially small and micro enterprises of Latvia for development of appropriate business model and for creation of the value for all company stakeholders. The proposed model in the article is built upon the stakeholder theory, while applying it to the electronic environment. Practical implications. According to the research results it is concluded that the main issue for small and micro enterprises is a lack of different kind of resources. Application of different e-tools and development of appropriate business model in e-environment can help replace the lack of resources and drive a company towards further development. A lot of e-environment’s tools a company can use with minimal investment or free of charge. The given model can be used by small and micro enterprises, which operate in the electronic environment and electronic market, by adapting it to their needs, requirements, and field of operations. Value/originality. The paper offers attempt to adopt existing business planning models to small and micro companies for an application of e-tools to business with an aim to increase company profitability with minimal investments. The paper has value to company owners and managers.