Using financial resilience to grow business amidst adversities

PurposeThis paper investigates financial resilience within selected micro small and medium enterprises (MSMEs) and how it is used as a growth tool amidst coronavirus disease 2019 (COVID-19) threats.Design/methodology/approachAn appreciative inquiry qualitative approach using a positive orientation with a case study design instead of the conventional problem-oriented approach was used. It focuses on successful MSMEs that experienced growth amidst the first wave of COVID-19 despite the large number of MSMEs that were affected negatively by the pandemic.FindingsThe results indicate that the MSMEs that were growing at an epic rate during COVID-19 exhibited financial resilience due to savings, innovative leadership, financial knowledge, experience and social capital. These businesses maintained client relationships and accessed financial capital.Research limitations/implicationsThe study was qualitative based on a few cases.Practical implicationsBusiness owners/managers should learn financial literacy, entrepreneurial skills and leadership skills and build social capital which are tenets of financial resilience during turbulent times.Originality/valueThe study contributes to the continuity of MSMEs in developing economies during times of uncertainty.