Features of the Russian small business are noticeable only compared to the small business of the advanced developed countries. The Russian small business has more common features with small business of the developing countries though there are some differences. In the framework of the institutional model of an «average» developing country, which exists in Russia nowadays, small business cannot reveal its potential of stimulation of scientific and technical innovation processes and complex counteraction to monopolism and the generator of the accelerated economic growth as a whole. Deep economic and social transformations are required for real revelation of this potential of the Russian small business.