The small business sector is one of the most promising growth drivers for the Russian economy. Accordingly, state support and stimulation of the further development of the small business sector is an urgent issue in the new crisis conditions, which are marked by the widespread spread of COVID-19, the pandemic and the accompanying massive state restrictive measures that had a direct impact on the functioning of the economic system. The paper considers the situation of small business in the current economic conditions of 2020, as well as the main aspects of the current state policy to support this sector of the Russian economy on the basis of a market approach. The article highlights the main formed barriers that prevent the increase in the effectiveness of government measures to support small businesses. However, along with the impeding factors, new incentives for the development of small business are highlighted, supported by an orientation towards the basic principles of a market economy.
