This paper deals with strategic management in micro, small and medium enterprises. The aim of the paper is to determine and describe the specifics and challenges of such management in companies and to assess its role for survival and positive business results. It has been established that in today's modern circumstances and dynamic environment, strategic management is extremely important. Unfortunately, smaller companies often lack the resources, but neither the will nor the knowledge to implement strategic management. This is especially true in cases where one person, usually the owner, performs several different functions. However, this does not mean that strategic management is not implemented in small and medium-sized companies. The process of strategic management in such companies is carried out in a less formal way and, as a rule, more importance is attached to the analysis of the external than the internal environment. Regardless of the challenges, strategic management in micro, small and medium-sized enterprises also brings certain advantages: independence in business decision-making and defining business strategy, greater flexibility of business and adaptation to external conditions, greater possibility of finding and applying creative solutions. In the paper, it was determined that the number of small, micro and medium enterprises in the period 2016-2021. growing. By far the most represented are micro-enterprises, which employ the largest number of employees. The extremely large economic contribution of micro, small and medium-sized enterprises was also determined. The assumption is that by implementing strategic management in the operations of each company, the business results of the company would be even better.