An SME is a place where the innovation easily appears, knowledge accumulates, and intellectual capital develops and is used. According to the U.S. Small Business Administration (SBA), enterprises with less than 500 employees are 99.7 % of all companies in the USA that use hired labor; they produce more than 50 % of GDP except agricultural products. SMEs represent 99% of all businesses in the EU. In the past five years, they have created around 85% of new jobs and made a decisive contribution to GDP. The contribution of SMEs to economic fundamentals nonetheless varies substantially across countries: from 16% of GDP in low-income countries (whereas the sector is typically large but informal) to 51% of GDP in high-income countries (Edinburgh Group, 2013). SMEs and entrepreneurs are engines in creating new workplaces and implementing technology and innovations. When the economic growth becomes greater, SMEs increasingly adopt a key role in industrial development and restructuring. They can satisfy the increasing local demand for services, which allows increasing specialisation, and furthermore support larger enterprises with services and inputs (Fjose et al. 2010). Purpose is to determine the specific features and characteristics of SMEs that lead to economic welfare in different countries. The authors of the paper propose an approach of study of several countries with different economic developments during the last year and identify the role of SMEs in this process. The research theory and methodology is based on the scientific papers and World Bank’s, EU and Organization of United Nations reports devoted to the question of SMEs. The methods of research are: analysis and synthesis of the scientific literature discussing the problems that SMEs are facing and the environmental changes; the systematic secondary statistical data analysis of SMEs. This methodology helps us to establish the model of economic growth and provide the required actions based on the expansion of SMEs. The outcomes of the application may encourage individuals and governments to (active) take actions. It opens ways to be successful in a micro and macro level. For an individual, it’s important to think about long-term strategy for his or her life and SME is a preferable way during the working time. For countries, it’s also determinative because SMEs are more open to new knowledge, faster to satisfy new demands and ready for international trade and investment.