RESILIENCE FACTORS OF SMEs IN THE CITY OF KINSHASA FACING ECONOMIC CRISES

Abstract

The objective of this essay is to ascertain the resilience factors that small and medium-sized firms (SMEs) in Kinshasa, the Democratic Republic of the Congo, have against economic downturns. It is based on a survey that was given to 153 Kinshasa-based SMEs. The study demonstrates that SMEs are using a range of coping mechanisms to deal with challenges. When faced with labor issues, they frequently turn to independent hiring. They adjust to hazards from the environment. When it comes to management issues, they consult with more seasoned individuals. The challenges faced are mostly related to unskilled labor, the socioeconomic climate, and organizational issues. Direct hiring, adapting, or turning to the most seasoned individuals are the methods employed. The results of the investigation show that adaptability, flexibility, and efficient human resource management are the main components of resilience. SMEs also need to diversify their operations and expand their network of partners. With the help of this study, we can better understand the dynamics of SMEs in Kinshasa and devise strategies to increase their resilience to financial shocks—a critical skill for the nation's economic growth.