Recommendations for supporting SMEs in Lebanon

The Lebanon Small and Medium Enterprise Conference (LSMEC 2017) organized by Synergies Events (October 17 and 18) pressed the need to accelerate support to SMEs at the level of public and private sectors. Recommendations issued at the end of the conference called for the following: Adopt and support the ministry of economy and trade’s strategy in strengthening SMEs; facilitate the procedures for starting up new companies and reduce associated government fees and basic costs; bolster partnership between the private and public sectors; remove bureaucratic obstacles; foster Lebanese banks and financial institutions to develop a comprehensive approach for provision of an all-inclusive package of financial services; upgrade financial infrastructure to expedite loans across the legal and operational areas; encourage innovation in marketing and the promotion of SMEs products, and finally, exercise an effective management of human resources in terms of recruitment, training and entrepreneurship. (Al Mustaqbal, October 19, 2017)

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