The article analyzes on the basis of two waves of the small business longitudinal study of the Institute “Public Opinion Fund” (February and May 2022) the strategies of behavior of small businesses in the context of the gradual lowering of the effects of the pandemic and the sudden shock changes in the economy which began after the beginning of sanctions undertaken by a number of countries in connection with certain circumstances. The main conclusions: first, there was no sharp deterioration in well-being between February and May 2022; secondly, the assessment of the general economic situation on the part of small businesses has not become (yet) more negative; third, small businesses have begun to adapt to the changes that are taking place; fourth, almost half of the respondents do not think about the support measures proposed by the state (because they do not believe in the possibility of receiving assistance, or in its effectiveness, or simply do not trust the state and do not want to talk about this topic).