The Lebanese Perception of the Impact of Small & Medium Enterprises (SMEs) on the National Economy

Abstract

Over the years, Small and Medium-Sized Enterprises (SMEs) have been very significant to the economic development of most developing and developed countries. It is a major form of business and a major employer with a strong positive impact on the economic growth and labor market in Lebanon.

This paper researches the impact of SMEs on the Lebanese labor market and Lebanese economy. Furthermore, the importance of SMEs, and the challenges facing the sector and makes recommendations as to how to resolve these challenges.

The data was collected through a questionnaire, and several literature, publications and reports.

Based on past researches and studies there is a relation between SMEs and job creation in addition to the vital role they play in a nation’s economy.

This is a basic study to show the impact and importance of SMEs. Recommendations are made for governments to encourage the entrepreneurial spirit and in collaboration with banks to facilitate access to credit to ensure the growth, development and continuation of SMEs. Furthermore, owners and employees of SMEs should be provided with a skill acquisition program to boost their skills, and to ensure the development of both employees and the business.