Economic Resilience of Small Island Businesses: Strategies in Face of Globalization Challenges

Abstract

Small Island Developing States (SIDS) face unique economic challenges exacerbated by globalization and environmental changes.
This study explores the resilience of small island businesses against globalization by adopting a mixed-methods approach, analyzing quantitative data and qualitative insights from business leaders and policymakers. The findings indicate that economic diversification, sustainable
practices, strengthened infrastructure, and technological advancements are crucial for enhancing resilience. Case studies from Fiji and Samoa
highlight the role of effective policy frameworks and international cooperation in supporting these strategies. The research suggests that tailored approaches are necessary to address each island’s specific needs, offering policy recommendations to aid local governments and international bodies in bolstering the economic resilience of SIDS. This study contributes to understanding how SIDS can turn vulnerabilities into
strengths for sustainable growth amidst global pressures.