Adaptation Strategies of Micro Enterprises Amid Global Economic Uncertainty

Abstract

Global economic uncertainty has become a major challenge for micro businesses in maintaining their business continuity. Financial crises, market volatility, and changes in global economic policies can have a direct impact on the stability of micro enterprises, especially in developing countries. This study aims to analyze the adaptation strategies implemented by micro enterprises in the face of global economic uncertainty. Using qualitative methods through a library research approach, this study examines various literature that discusses micro business adaptation strategies to global economic challenges, including business diversification, product innovation, the use of digital technology, and flexible financial management. The results of the study show that micro businesses that are able to survive and thrive in the midst of economic uncertainty have several strategies in common, such as increasing competitiveness through the adoption of digital technology, expanding business networks through strategic partnerships, and improving operational efficiency through more adaptive financial management. In addition, the ability to adjust business models to dynamic market demand is also an important factor in maintaining business sustainability. However, challenges such as limited access to capital, lack of digital literacy, and unstable economic policies are still the main obstacles for micro enterprises in adopting optimal adaptation strategies. This research provides insights for micro business actors, policymakers, and academics on the importance of innovation and flexibility in facing global economic changes. Policy recommendations that are more supportive of micro enterprises, such as increasing access to financing, digitalization training, and more stable economic policies, are needed to strengthen the resilience of the micro business sector in the future.