MEASURES OF STATE SUPPORT FOR SMALL AND MEDIUM-SIZED BUSINESSES IN THE EUROPEAN UNION

This article considers the field of small and medium-sized entrepreneurship as an important part of the economic system. It fulfills not only business functions but also social functions. The article highlights the transformational stages of development of small and medium-sized businesses in the European Union, the motivation behind the emergence of SMEs, the conditions for the formation of a multi-sectoral economy, as well as an effective institutional environment for its development and favourable alternative ways to start a business.