Small and medium-sized businesses are an indispensable part of national economies. SMEs ensure the development of the real sector and the occupation of a considerable share of the population. In the current period of economic recession and high inflation rate, it is necessary to determine the factors that would ensure the growth of SMEs. Therefore, the study aims to model indicators that reflect the level of development of small and medium-sized businesses in Moldova. The essential method is mathematical modeling using a multiple linear regression model. The model contains thirty exogenous variables and nine endogenous variables. The following functions, such as linear, exponential, logarithmic, and second-order polynomial, are applied to construct the trend of the exogenous variables. Their statistical testing showed that, in most cases, the best fit is the linear function. The accuracy assessment of the econometric model showed that the null hypothesis of model inadequacy could be rejected with a probability of 95%. A multilateral test of the small and medium-sized enterprises development model allows us to conclude that it is reliable. This model can be used to build scenarios for the development of SMEs, taking into account the processes in the national economy and the policies promoted by the state.