SMEs Should Keep Moving Forward to be able to Transition
Lebanese SMEs have been seeing boosts in sales by the local community, despite the economic conditions.
As a key engine for growth, Lebanon’s national vision should be focused on fostering the creation of vibrant and globally competitive SMEs. Such initiatives contribute to employment opportunities and high value-added economy.
Disregarding of their profit margins growing SMEs cannot achieve strategic growth by sustaining their businesses on the local market. The purchasing power of the local currency will not only limit the business potential to expand but also threats its sustainability.
How to Address These Gaps?
Individuals and SMEs are invited to:
- Create unique, high-quality, back-to-the-roots products that can compete and/or penetrate international markets.
- Request the support of the Lebanese Government and global international bodies to activate export conventions facilitate access to capital and leveraging Lebanese missions abroad to allow SMEs to transition to larger corporations thus effectively overcoming growth barriers.
- Improve market standards to meet international criteria and grow trade volumes through the provision of professional training and information to ensure sales and profitability.
- Assist individuals and SMEs in providing technology upgrade and free advisory services through governmental and international programs.
- Support local businesses by sustaining social media platforms and encouraging websites such as Watani to facilitate SMEs commercial connections and achieve growth by leveraging market intelligence.
The Solution SMEs are Looking for
With a solid planning a long term strategic vision and a proper execution, Lebanon has a tremendous opportunity to thrive again and renew its economy. Lebanese entrepreneurs have consistently proven over the years their ability to excel in different spheres with their high education, savoir-faire and resilience thus we shall rise again.
Quoting Martin Luther King Jr. – “If you can’t fly then run. If you can’t run then walk. If you can’t walk then crawl, but whatever you do you have to keep moving forward”.
To find out more on how you can contribute visit https://watani.store/donation/
