The Resilience of Islamic SMEs in Facing Economic Crises

Abstract

Micro, Small, and Medium Enterprises (SMEs) play a strategic role in supporting economic growth, employment creation, income generation, and local economic development. However, SMEs are also among the business groups most vulnerable to economic crises due to limited access to capital, managerial capacity, technology, markets, and financial resources. In the context of Islamic economics, the resilience of SMEs cannot be measured solely by their ability to survive financially, but must also consider their adherence to Islamic principles, including halal, justice, trustworthiness (amanah), honesty (sidq), social responsibility, and maslahah. This study aims to examine the concept of Islamic SME resilience in facing economic crises and to identify strategies that can strengthen the ability of SMEs to survive, adapt, recover, and transform after a crisis. This research employs a literature review method using a qualitative and descriptive-analytical approach. The sources consist of scientific journal articles, academic books, research reports, and other relevant literature concerning SMEs, business resilience, economic crises, Islamic economics, Islamic financing, digitalization, and maqashid al-shariah. The literature was analyzed through identification, classification, comparison, interpretation, and synthesis. The findings indicate that Islamic SME resilience is strengthened through financial resilience, business adaptation, product and market diversification, digitalization, innovation, access to Islamic financing, human resource development, business networks, and adherence to Islamic principles. Ultimately, resilience should not only ensure business continuity but also contribute to maslahah for business owners, employees, consumers, and society.