Protasov Kirill Aleksandrovich

the article observes the notion of risk-based approach, proves its relevance in small and medium-sized businesses management, which is especially important in a current difficult situation in the country. The author gives a definition of the risk-based approach, describes its application in business management, and describes the major risks of doing business in the Russian market. Moreover, the paper explains the role and the necessity of applying risk-based approach to small and medium-sized businesses management.