Significance. The subjects of small and medium business play an important role in preserving the social orientation of economic policy in all countries of the world. The goal of supporting small and medium-sized businesses in any country is, firstly, to reduce hidden unemployment and reduce employment in the shadow economy, and secondly, the development of a system of motivation and personal responsibility for the final result of economic activities of business entities. It is important for the growth of the national economy of the CIS countries to strengthen the small and medium business sector. For this purpose, it is expedient to create favorable conditions for its development by developing effective mechanisms for organizational and economic stimulation of entrepreneurship development within the framework of the state's regulatory policy. The research. In the article, some modern approaches of financial regulation of activity of small and medium business enterprises are considered, the approach to organizational and economic maintenance of development of small and medium business in the context of regulatory policy of the state is improved. The main components of this approach include: the block of state regulatory policy in the sphere of small and medium business; the block of maintenance of development of small and average business; the block of directions of perfection of process of formation of a regulatory policy of the state. The interrelationships of such blocks reflect the influence of government bodies on the innovative activity of small and medium-sized businesses.