Mechanisms for stimulating small and medium-sized businesses in the BRICS countries

Small and medium-sized businesses in all countries contribute to the creation of an optimal competitive environment, provide conditions for increasing employment, and have a significant incentive for innovation. The study of mechanisms to stimulate the activities of small and medium-sized businesses in the BRICS countries allows us to identify the problems of development of this segment of the economy. The paper analyzes in detail the areas of financial, property, information, and consulting support for SME companies in the BRICS countries, including in the field of employee training and innovation. The results showed that in each BRICS country, measures are being carried out and implemented in various areas of SME support, which has a positive effect on the level of contribution of small and medium-sized businesses to the country’s GDP. In order to receive appropriate support, small and medium-sized businesses must carefully determine their size and characteristics in order to meet the established criteria for this type of company. It is recommended to create clusters of SMEs as a basis for the formation of value chains and obtaining a synergistic effect. The transition to digital technologies will allow SMEs to solve the issues of staff shortages and ensure access to many resources.