Fortitude and Sense of Coherence in Achieving Financial Resilience and Financial Health of Micro and Small Entrepreneurs

Abstract

The COVID-19 pandemic has brought economic shocks all over the world. India is not an exception to this. The pandemic has made the lives of poor and downtrodden people, micro and small entrepreneurs miserable. Micro and small enterprises struggle to bounce back financially and to achieve financial health. Micro and small entrepreneurs face many problems, such as no adequate income and savings, debt repayment, rising costs, lack of funds to run the business, financial and mental stress, uncertain future, and so on. Despite these problems, the micro and small enterprises move on steadily to achieve the goal of financial health. What makes them move on steadily? How do they manage their resources to achieve financial resilience? To seek answers to these questions, this study would like to examine the role of fortitude and sense of coherence in achieving financial resilience and financial health of micro and small entrepreneurs.