Small and medium enterprises (SMEs) are important for the economic growth and development each of country. SMEs, account for approximately one-third of GDP in the Czech Republic. The aim of this article is to find if there exists the impact of some macroeconomic indicators (rate of unemployment, GDP, inflation rate, real effective exchange rate) on SMEs growth. The primary aim of the contribution is to find out if there is the long-term, resp. short-term relationship between macroeconomic variables and SMEs growth in the Czech Republic. The hypotheses were confirmed or rejected through statistical methods such as VEC model, Granger causality. The EViews 12 was used for data evaluation.