What are the Challenges that SMEs have Faced During the Financial Crisis in Lebanon?(Pages 926-936)
Dr. Racha Mohamad Arab Ghayad1,*, Dr. Mohamad Ali Hamdan2 and Mohammad Hammoud3
1Associate Professor, Head of Finance Department, Faculty of Economic Sciences and Business Administration, Lebanese University, Lebanon.
2Associate Professor, Head of Marketing Department, Faculty of Economic Sciences and Business Administration, Lebanese University, Hadath, Lebanon.
3Faculty of Economic Sciences and Business Administration, Lebanese University, Lebanon.
Small and Medium Size Enterprises have a crucial part in every economy. They account for the majority of businesses worldwide. They provide the main source of employment and are major contributors to value creation across all sectors. Studies have been made to measure the impact of problems that SMEs' performances suffer from. This study is conducted to show the effect of the challenges SMEs face in Lebanon, focusing mainly on their performance. The methodology of this paper includes several previous studies and a survey questionnaire in order to study how Lebanese SMEs' owners perceive the different challenges that they face and their impact on their business. The findings showed that most SMEs lack financial resources due to their inaccessibility to financial capital especially during the last three years. We concluded that employees' salaries have an effect on performance while entrepreneurial skills and business obstacles do not affect profitability.
Challenges, SMEs, Lebanon, Performance, financial resources.
How to Cite:
Dr. Racha Mohamad Arab Ghayad, Dr. Mohamad Ali Hamdanand Mohammad Hammoud. What are the Challenges that SMEs have Faced During the Financial Crisis in Lebanon?. [ref]: vol.20.2022. available at: https://refpress.org/ref-vol20-a105/
Licensee REF Press This is an open access article licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.