Small and medium-sized enterprises (SMEs) are the backbone of Lebanon’s economy and this important sector is expected to get a significant boost following the launch of an Advice for Small Business (ASB) Programme launched recently in Beirut with the support of the European Union and the European Bank for Reconstruction & Development (EBRD).
The ASB programme in Lebanon will support small and medium-sized enterprises (SMEs) with business advisory services to boost their performance and sustainability, enhance their creativity and help foster innovation, competitiveness and create jobs as well as ultimately increase their chances of accessing the finance they need to grow. In Lebanon SMEs constitute over 90 per cent of the private sector, representing the backbone of the economy. Offering support to this sector is a priority for the EU and the EBRD and in the country.
The advisory programme links SMEs with local and international consultants to help them become catalysts for growth in their local economies. Business advice covers a range of areas including strategy, marketing, operations, quality management, energy efficiency, financial management and others. The EBRD also carries out training programmes for local consultants to strengthen their capacity and improve the range and quality of advisory services.