DOI: https://doie.org/10.10399/NER.2025203976
Dr. Deepmala Baghel, Prof. Dr. Vijayalakshmi Iyengar
Keywords:family managed MSMEs, family-capital, entrepreneurial resilience, sustainable ecosystem, Covid-19, Bourdieu
This study examines the influence of family capital on the entrepreneurial resilience of Indian family-managed Micro, Small, and Medium Enterprises (MSMEs) during periods of crisis. Following the disruptive events such as the COVID-19 pandemic, family- managed MSMEs are employing resilience as a strategic approach to develop a crisis management ecosystem. The article conceptualizes entrepreneurial resilience as a socially embedded mechanism that relies on family capital, contributing to a sustainable MSME ecosystem. Drawing from Bourdieu’s theory of capital and entrepreneurial resiliency theory, we explore the interdependencies of the two crucial subsystems for entrepreneurial resilience: family and firm. A qualitative research of fifteen family-owned MSMEs suggests that cultural, social, and symbolic capitals enhance hardiness, resourcefulness, and optimism, leading to a sustainable entrepreneurial ecosystem to withstand the challenges of the Covid-19 crisis. This study provides a novel conceptual framework that synthesizes dimensions of family capital to examine entrepreneurial resilience. By incorporating a range of social indicators—such as familial trust, relational networks, and intergenerational commitment—the framework enables a multidimensional assessment of resilience at both the firm and ecosystem levels. This integrative approach offers a nuanced understanding of how family capital contributes to crisis management and adaptive capacity within resource-constrained environments.