In article, development of ethnoeconomy is considered as a possibility of overcoming an imbalance in the agrarian sector of the Russian Federation. The carried-out analysis of the definition "ethnoeconomy" has revealed the need of addition of innovative component in interpretation of this term. It will allow giving a new look to traditional forms of managing or carrying out production of ethnic goods according to the latest technologies. Prospects of a clustering of business activity in the

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... re of ethnic economy in Krasnodar Region are considered. It is defined that it promotes increase in efficiency of interaction of subjects of small and medium business and also growth of their internal potential in modern economic conditions. It is revealed that the lack of infrastructure for realization of the ethnic production is one of the main problems of ethnic economy of any region of the Russian Federation. The authors consider that "successful" ethnic production should have a certain popularity, to be eco-friendly, to conform to the quality standards, and to possess original packing. The authors have considered theoretical prerequisites of formation of the Cossack farms of innovative type as innovative elements of economic space of the territory.