The article considers the characteristics of small business entities in the context of risky circumstances. The socio-economic characteristics of small enterprises are analyzed taking into account the new crisis phenomena and their influence on the construction of management strategies. In the process of research the interrelation between these characteristics and risk factors is established, the necessity of actualization of existing approaches and methods of management of small enterprises is proved. Methods of search, analysis and generalization of information were used. The sociological interpretation of the concept of “risk” in historical retrospect and taking into account modern approaches is given, as well as the main provisions of risk concepts are given. Among the key ones are socio-economic characteristics of small enterprises interrelated with risky circumstances. Limited capital investments, small number of employees, the need to fulfill social obligations, relatively low level of income, simpler organizational structure, uniqueness of goods and services produced, localization of markets, significant social burden are highlighted. It is concluded that modern transformations in various spheres of society increase the probability of crisis processes. At the same time, the level of risk is interrelated with the socio-economic characteristics of small enterprises, which are more exposed to risk consequences. Small business shows significant adaptive capabilities and readiness to quickly change management tactics in terms of predicting and regulating risks.