LCPS Videos
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Jul 18, 2022
Local Stakeholders and Necessity-Driven Entrepreneurs: A Missing Link? Solutions for a Stronger Local Entrepreneurial Ecosystem
In 2021, the Lebanese Center for Policy Studies (LCPS) conducted a detailed study on NDEs in three rural areas in Lebanon. Findings have revealed numerous challenges facing NDEs, particularly in light of the multiple crises the country is undergoing. Citizens willingness to incur risks associated with investing, launching, and managing NDEs is tied to their trust in government efficacy and community commitment. NDEs, like any other entrepreneurial ventures, need to be studied in a local context, as local entrepreneurial cultures and local institutions can form the infrastructure to influence growth dynamics and exploit opportunities emerging for NDEs.
In this webinar, we look into: 1) multi-stakeholder roles to tackle the challenges confronting NDEs and the essentials to boost a vibrant local entrepreneurial ecosystem in rural areas, 2) discuss the role of networking institutions and business incubators, and 3) highlight the sustainable digital tools that are imperative for bridging the gap between NDEs and the local governments, as well as the role of several local institutions: organizational, sectoral, and regulatory. Such a bottom-up approach can help reform and improve bureaucratic and regulatory frameworks to better design an efficient ecosystem that encourages entrepreneurs and facilitates their local growth.