Economic potential of arctic ethnic entrepreneurship in the Kola North of Russia in the conditions of global transformations

Arctic ethnic entrepreneurship of Indigenous small-numbered Peoples of the North has economic potential that plays an important role in ensuring food security in the Arctic region. Of particular interest is the economic activity of the Kola Sapmi, who have faced with the destruction of scientific cooperation and production and logistics chains with the Scandinavian countries. The research aimed to study theoretical approaches to the concept of “Arctic ethnic entrepreneurship” and determine the directions for the development of its economic potential in the Kola North of Russia in the context of global transformations of modern ethno-economics. Its specific features are: ethnicity; orientation towards following the traditional way of doing business, focusing on the use of natural resources in the places of traditional residence and economic activity of Indigenous Peoples, the use of natural exchange along with commodity-money relations, the secondary nature of financial benefits from business activities and the prioritization of maintaining the balance of the Arctic ecosystems. The Indigenous peoples of the North have formed a concept of sustainable development at the mental level, which becomes one of the essential characteristics of their economic activities, and, accordingly, of Arctic ethnic entrepreneurship. Currently, there is a decrease in the entrepreneurial activity of the Kola Sapmi, which is associated both with increasing assimilation processes and, in general, with evolutionary changes in the traditional culture of the Sapmi and a shift in emphasis on maintaining traditional culture from the development of traditional crafts as a profitable economic activity of the Indigenous population. Promising directions for the development of Arctic ethnic entrepreneurship of the Kola Sapmi are entering the dietary products market, expanding interregional exports and developing new markets in the BRICS countries.