Аннотация:On the basis of the institutionalist theory, the paper explores the institutional support being provided to small and medium-sized business enterprises in Russia. We review the main trends in the scholarly literature on the role of institutions in creating such an environment that is favorable for business enterprises, especially in the context of emerging and transition economies. The paper also summarizes the existing institutional support available to small and medium-sized businesses in Russia, particularly indicating the key type of financing. More than that, by combining institutional instruments and stages in economic enterprise’s development, we provide a matrix that allows to better understand what type of institutional support is necessary at different stages in the development of business entities.