SMEs are a dynamic sector, which contributes to the development of a country's economy, the development of innovation, jobs. In the Republic of Croatia, SMEs have a 99.7% share. The topic of the paper is the specificity of financial analysis for small businesses. Financial analysis is a useful tool in analyzing financial information and helps you make key decisions for your business. The specifics of differences in financial analysis for small businesses vary by size of business. Smaller businesses are more vital and represent the potential for economic development, responding more quickly and effectively to changes in the environment. The purpose of this paper is to point out the differences in the financial analysis of small businesses with respect to large enterprises, so in the empirical part we analyze financial reports and indicators using the example of a small business. Differences are evident in quantitative indicators such as the number of employees, the amount of total assets and the sales revenue generated. Differences in financial analysis were observed in the structure of financial statements companies, indicators of liquidity, profitability, and net working capital and maintaining an optimal level of cash flows. Differences are also evident in access to external funding sources. The empirical part of the paper contains the implementation of financial analysis on the example of small business Mono Ltd. from Osijek where we confirmed existence of differences in certain indicators compared to large enterprises.