Due to the development of knowledge society, there is increased demand for using Information Technology (IT) in an entrepreneurship as well as using knowledge management (KM). To achieve high competitive capacity it is necessary to promote continuing education in small, medium and micro enterprises (SMME’s). This paper gives a brief review of KM principles and implementation in small, medium and micro enterprises (SMME’s) as well as importance of continuing education promotion. KM and continuing education are the effective tools for enterprise development. Therefore it is necessary for SME’s to understand KM implementation principles, steps and expenses as well as possibilities of continuing education.