Small Business in the Republics of North Caucasus : Risks Amid the Pandemic and Ways to Reduce Them

In 2020, economic crisis and COVID-19 pandemic have been a trial for small business in all Russian regions. In the North Caucasus some types of entrepreneurship provide mass employment and recession in that sector threatens with serious social issues and emergence of new depressed territories (a number of industries are highly concentrated in certain cities or regions). Given that small business largely remains in the gray economy, the opportunity to receive state relief amidst crisis can stimulate them to exit from the gray sector