Today, the fishing industry poses long-term sustainability problems, especially in the Mediterranean, the Black Sea, Southeast Pacific, and Southwest Atlantic which ignore sustainable catch levels. This study examines how family-owned small and medium-sized enterprises (SMEs) in the fishing sector approach sustainability practices in the context of the Blue Economy. With fishing industries facing long-term sustainability challenges, particularly in regions like the Mediterranean and the Southwest Atlantic, the need for responsible resource management is crucial. The Blue Economy concept, which emphasizes economic growth, social inclusion, and environmental sustainability, aligns with the UN's SDG 14 for marine conservation. However, despite the importance of sustainability, many SMEs, which represent 99% of firms in the OECD area, show less commitment to these practices compared to larger companies. The research investigates how family SMEs in the COSVAP Fishing District of Western Sicily implement sustainability measures. Using qualitative data gathered through semi-structured interviews, the study identifies three managerial approaches to sustainability: ‘sustainability as a threat,’ ‘sustainability with compromise,’ and ‘sustainability as an opportunity.’ The findings indicate that only firms adopting the ‘sustainability as an opportunity’ approach fully integrate economic, social, and environmental sustainability. In contrast, businesses with the ‘sustainability as a threat’ approach ignore sustainability, while those with ‘sustainability with compromise’ prioritize short-term profit over comprehensive sustainability. The study highlights the heterogeneity of sustainability approaches among family SMEs and suggests that companies and policymakers collaborate to foster a more sustainable future. Practical implications include encouraging SMEs to transition to the ‘sustainability as an opportunity’ mindset and involving more firms in sustainability-oriented projects.
