Conceptual Framework: Independent Business Owner’s Agility and Financial Resilience

As crisis, challenges and survivals are parts of human evolutions, it's our judgement, resilient and creativity that will endure our paradigm shifts either to become better or remain stagnant forever.What we are experiencing in terms of economic recession is not new.In Malaysia for example, we had recessions in 1988 and 1997.In the world context, there was Great Depression in 1930, Oil Crisis in 1973 and an Economy Depression during the President Obama Era in 2008.This study makes an effort to address the problem of escalating household debt and monetary instability year-round.The pandemic Covid-19, which resulted in the collapse of countless businesses and significant unemployment, worsens this situation even further.It demonstrates that the majority's income sources are not resilient.Initiatives by the Malaysian government to offer short-term incentives, including Bantuan Prihatin Rakyat, i-Sinar, and others, help people survive in the short term but do nothing to address their financial issues or lower household debt.This circumstance demonstrates how susceptible to unpredictable external environments and lack of resilience the primary sources of income are.This study makes an effort to look at the financial resiliency of independent business owners.