Abstract
Small and Medium Enterprises (SMEs) are crucial to economic growth, contributing significantly to employment and economic diversification. However, prior research inform us that in context of Qatar they face persistent financial risks, including market volatility, liquidity constraints, and regulatory uncertainty. Despite the critical role of risk management systems (RMS) in mitigating financial exposure, many SMEs lack structured frameworks for effective risk mitigation. This study explores the application of RMS in Qatari SMEs, leveraging the Resource-Based View (RBV) and Dynamic Capabilities Framework to examine how these firms develop resilience against financial uncertainty. A qualitative, interpretivist approach is employed, utilizing semi- structured interviews with SME owners and managers. Preliminary findings indicate a lack of formal risk management practices, with many SMEs relying on ad hoc strategies. This paper presents ongoing research and invites feedback to refine theoretical and empirical insights.