Why be an entrepreneur?

The Lebanese have a very well developed entrepreneurial culture, and they are known in Africa, the United States, Europe, Latin America and of course Lebanon for their entrepreneurial initiative. There are a number of reasons to start a business in Lebanon:

- A need for independence self-employment, wealth creation, creativity and technological development all fuel the boom in entrepreneurship.

- Lebanese people have a good instinct for transforming risks into opportunities.

- Human capital is the country’s primary added value.

- With literacy above 90% and a post-secondary enrolment rate of 54%, young Lebanese university graduates form a competitive talent pool from which to draw.

- Lebanese entrepreneurs are ambitious, tireless and energetic and invest fully in their projects.

- The country’s free market economy, sophisticated banking system and available qualified labour force are valuable motivators, further reinforced by the existence of real opportunities on the Lebanese market.

- The privatization of certain public companies and the need to modernize others has opened up a broad range of business opportunities.

- Considerable investment opportunities are also appearing in respect of the development of the oil and gas discovered in the country’s regional waters.

- Moderate tax levels, an expanding infrastructure, favourable terms for investors and a lack of restrictions on moving capital over Lebanese borders: starting new business in Lebanon is certainly a very appealing prospect!

- According to a World Bank report released in 2012, founding a company in Lebanon entails an average of five steps that take nine days to complete, compared with an average of 8.2 steps spread over 20.9 days for the Middle East & North Africa region.

 

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