Abstract
The article analyzes the theoretical and economic-legal approach to the definition of SMEs in the modern world. The author compares the theoretical definitions of SMEs and the system of criteria in a number of countries of the world for classifying enterprises as SMEs. On the basis of the theoretical material given in the article, the definition of SME is formulated. SME is an entrepreneurial activity aimed at making a profit, operating in various areas of economic activity, supporting the principles of perfect competition, solving social and economic problems, carried out by subjects of a market economy under certain criteria established by laws by public authorities (which may vary depending on the country). This definition also determines the need for state support for SMEs.
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