The Muamalat Newsletter Vol. 1 2024

FEM eNewsletter | June 2024 26 The Importance of Resilience AmongMicro Entrepreneurs inMalaysia: Challenges, Strategies, and theWay Forward Mohammad Noorizzuddin Nooh Faculty of Economics and Muamalat Universiti Sains Islam Malaysia encounter various challenges that can impact their resilience. These challenges include limited access to financing, lackofbusinessskillsandresources, intense competition, regulatory barriers, and external shocks such as economic crises or natural disasters(Saputeri et al., 2022). To address these challenges and enhance the resilience of micro entrepreneurs in Malaysia, various strategies can be implemented (Jamak et al., 2014). Firstly, there is a need to improve access to financing for micro entrepreneurs. This can be done through the development of specialized microfinance institutions or programs that provide affordable loans and financial support tailored to the needs of micro businesses. Additionally, providing training and support in entrepreneurial skills and business management can help micro entrepreneurs Understanding the Role of Resilience in Micro Entrepreneurship in Malaysia Micro entrepreneurs play a crucial role in driving economic growth and development in Malaysia. Despite their small scale, micro businesses contribute significantly to job creation, income generation, and poverty reduction. However, these micro entrepreneurs often face numerous challenges that can hinder their success and sustainability. One critical factor that can help micro entrepreneurs overcome these challenges is resilience. Resilience refers to the ability of individuals or organizations to recover from setbacks, adapt to changes, and thrive in the face of adversity. Resilience is particularly important for micro entrepreneurs inMalaysiadue to thedynamic and uncertain business environment they operate in. Micro entrepreneurs in Malaysia