This article discusses practical aspects of SME’s operations in the Russian Federation and the Е.С. It researches the relationship and difference of recognition criteria as well as results of SME’s activities, their contribution to the economies of the European states and Russia. A lot of attention is paid to the most important positions of SME’s support. The article reveals SME’s contribution to the economies of the countries under consideration as well as creation of new jobs, support of social stability. The work focuses on the problems in SME’s development, such as budget financing, organizational and administrative barriers, accounting systems, the tax burden. The research will be useful not only for the existing entrepreneurs, but also to the top management of banks and governments, who are able to promote the development not only of a handful of companies but the economy as a whole.