Recommendations for expanding small and medium enterprises || Newspapers (Arabic)

Endeavour organized a session yesterday to discuss existing opportunities for expansion of small and medium enterprises and the steps necessary to develop an environment that is conducive for entrepreneurship.
The event was attended by the head of the UNDP projects unit at the Ministry of Trade and Commerce Zeina Al-Khouri, Printworks founder and CEO Jad Khouri, Strategic Decisions Group in Europe and Middle East CEO Mazen Skaff, and Tarek Saadi Endeavor CEO, in addition to media representatives and experts in the field of business and economics.
Participants discussed the difficulties facing the growth of these enterprises despite the increasing and unprecedented availability of financial support to the creation of new enterprises during the past few years.  Participants also recommended a number of steps that need to be considered during planning phase namely focusing on consolidating tangible and immediate markets at the inception phase of any project before moving into expansion to new markets as well as the importance of continuously looking for new talents and making sure that there are sufficient provisions for increasing capital before the need for such an action arises.  Participants also discussed the difficulties faced when looking for financing especially given the limited responsiveness of local banks particularly when enterprises are in their early stage and may pose risks for investors.  As such, banks were invited to allocate more money to small and medium size enterprises.  Participants also reviewed the important role of the private sector in supporting the growth of small and medium enterprises and a recommendation was made to seek ways of building partnerships with the private sector.  The government was also invited to extend efforts to work more collaboratively with the private sector in order to put in place successful development plans in all sectors.
In addition, the meeting reviewed new initiatives currently being taken by the Ministry of Economy and Trade in order to strengthen the growth and development of enterprises including the set up of an observatory of small and medium enterprises which will meet the demands of research and monitoring of these enterprises as well as other initiatives proposed by the Ministry of Labor to develop with selected institutions a number of appropriate business training programme, adapting the curricula of educational institutions with the long term needs of the market.  The Ministry of Economy is also looking into the possibility of proposing to the Cabinet the adoption of several incentives and tax waivers for small and medium enterprises and for encouraging Lebanese in the diaspora to invest in Lebanon.
Finally, the seminar concluded by suggesting a number of short term solutions to improve the situation of small and medium enterprises given the current economic slump in Lebanon.  Participants also called on the enterprises to try and expand to external markets particularly given the non conducive environment in the country.
Source: Al-Mustaqbal 18 March 2013