n times of crisis, companies need to carefully monitor current expenses and forecast potential costs, which could be
caused by risky actions. Risk is inherent in all business functions and in every kind of activity. Knowing how to identify risks,
attribute a value and a priority scale, design actions and mechanisms to minimize risks, and continuously monitor them, are
essential to guarantee companies’ survival and create sustainable value. This is especially true for small- and medium-sized
businesses that are most exposed to the harmful effects of the risks, due to limited resources and structural features. The
objective of this study is to analyze available literature on the subject of risk management for small- and medium-sized
enterprises from 1999 to 2009. The analysis derives interesting characteristics from the scientifi studies, highlighting gaps
and guidelines for future research