Haj Youssef, M, Harakeh, M, Hussein, H and Sayour, N (2024) Brief on Entrepreneurship in Lebanon Unlocking Potentials: Addressing Barriers and Empowering Entrepreneurs in Lebanon. Project Report. Elsevier, SSRN.

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Abstract

Lebanon's entrepreneurial landscape faces high operational costs, bureaucratic hurdles, and political instability, presenting significant challenges and opportunities. The MENA Entrepreneurship and Labour Market Survey (MELMS) highlights the need for better awareness and accessibility of support services among Lebanese entrepreneurs. Only 22% of men and 16% of women are aware of essential resources like financial aid, mentorship programs, and educational workshops. This gap underscores the necessity for targeted outreach, particularly for women, to promote gender equity in entrepreneurship. Despite these challenges, the survey reveals a strong entrepreneurial spirit in Lebanon, driven by a desire to innovate, create jobs, and contribute to economic development. Entrepreneurs are motivated by opportunity rather than necessity, with long-term aspirations for growth. However, many lack the necessary skills and resources to succeed, indicating the need for comprehensive training programs and increased access to startup capital. Key success factors for Lebanese entrepreneurs include access to funding, a supportive regulatory framework, and networking opportunities. Government efforts, such as the "Lebanon SME Strategy" and initiatives by the Investment Development Authority of Lebanon (IDAL), improve access to finance, market access, and regulatory reforms. Programs like Kafalat and Circular 331 by the Central Bank of Lebanon have significantly supported entrepreneurship, especially in high-growth sectors like technology and renewable energy. The socio-cultural context presents unique barriers for women entrepreneurs, who face gender norms and structural inequalities. Addressing these barriers through educational programs, community initiatives, and policy interventions is essential to promote gender equality and empower women entrepreneurs. To foster a thriving entrepreneurial ecosystem, Lebanon must integrate support services, financial mechanisms, and capacity-building initiatives. This includes developing innovation hubs, offering research and development incentives, and fostering public-private partnerships. Engaging the Lebanese diaspora for investment and mentorship, along with leveraging international support from organizations like UNDP, ILO, and the European Union, can further strengthen the ecosystem. Lebanon's entrepreneurial resilience, especially during economic crises, underscores the importance of supportive policies and initiatives. Aligning efforts across public institutions, the private sector, and international organizations can create a sustainable and dynamic environment for entrepreneurs, ensuring continuous improvement and driving sustained economic growth and global competitiveness.

Item Type:	Monograph (Project Report)
Subjects:	H Social Sciences > HF Commerce > HF5001 Business
Divisions:	Liverpool Business School
Publisher:	Elsevier
SWORD Depositor:	A Symplectic
Date Deposited:	16 Sep 2024 08:30
Last Modified:	16 Sep 2024 08:30
DOI or ID number:	10.2139/ssrn.4880172
URI:	https://researchonline.ljmu.ac.uk/id/eprint/24116

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