Interesting Findings on the Needs of Enterprises and Business Owners in Libya

TUNIS, Tunisia - July 6, 2021 - PRLog -- Expertise France has just released a field survey-based publication on the profile of Libyan enterprises, business owners and managers and on their needs for business knowledge, business information and business support services. It is based on a large survey of members of Chambers of Commerce from all over Libya conducted online on a voluntary basis in 2020. Five hundred sixty-eight enterprises participated in the survey and provided valuable insights.

This dedicated publication presents results, key observations, and operational recommendations for international donors and development aid implementers. It provides critical information for enhancing ongoing technical assistance projects and shaping the upcoming technical assistance to Libya. The results showed that only 24% of Libyan start-ups are profitable, 27% are operating without profits, and 49% are stressed and struggling. The difficulty in the procurement of funds, the instability of the local currency exchange rate and the unclear policies applied by the authorities are some of the challenges mentioned obstructing business growth.

This publication (https://documents.eu4psl.org/2021-06/expertise-france-pro...) takes place within the framework of the project EU for Private Sector in Libya, financed by the European Union and implemented by Expertise France. EU4PSL aims at supporting business education, entrepreneurship, access to finance and at improving institutional support to Libyan enterprises.

The survey is rich in findings and insights. It sheds light on the reality of the Libyan private sector and itself constitutes a must read for any development aid project in the wider economic and social sphere in Libya.

"This survey is an important initiative, a tool towards better understanding the economic profile of the private sector in Libya. This insightful study will be of great help for both the international community, but most importantly the Libyan institutions in shaping policies and programs that give solution to the real needs of the private sector in Libya, thus paving its way for a more active participation in the process of economic transformation '', said Sandra Goffin, Head of Cooperation, at the European Union Delegation to Libya.

Expertise France aims at sharing more knowledge and practical data on the existing situation of the private sector and SMEs in Libya through their "Practical Survey Series" publications. This series will provide an important source of valuable information to help build an actionable baseline for enhanced policies and relevant support to business and economic reforms thus contributing to the development of the private sector in Libya.