ENThe purpose of this study is to determine the role of enterprises in the small business sector, as well as to assess the effectiveness of state support measures to support it on the example of the Republics of Latvia and Lithuania. The subject of the research is the system of financial and property regulation and stimulation of the development of small and medium-sized businesses. The object of the research is the sphere of small business in the economy of Latvia and Lithuania, including small enterprises, financial and infrastructure support, as well as other measures to stimulate this sector of the economy. The study used the main methods of scientific knowledge: an interdisciplinary approach combining methods of systemic and comparative analysis, a survey method, an integrated approach, induction, deduction, analysis, synthesis, methods of organization and management theory, logical analysis, strategic management, etc., as well as economic small business sector analysis. The article presents the result of a joint research conducted in Latvia and Lithuania among students of the economic direction. As a result of the study, data were obtained and an assessment was made of the effectiveness of the system of state support and stimulation of the development of small and mediumsized businesses in Latvia and Lithuania, provided for by the system of state support for small and medium-sized enterprises, taking into account the importance of the role of this sector in the economies of both countries.The practical significance of the work lies in the fact that the study complements a number of conclusions and practical recommendations in the field of organizational measures for effective financial and property support and multilateral development of the small and medium-sized business sector in the economy, recognition of the effectiveness of support and development of small business as the main goal of the economic policy of any state. [From the publication]