Unveiling the Resilience of Lebanese SMEs: The Effects of Multiple Crises on Its Performance

  •  Inaya Wahidi    
  •  Mourad Kertous    
  •  Samir B. Maliki    
  •  Henri Ayoub    


This paper addresses the impact of the multiple crises on Lebanese SMEs' performance. Little is known about the effect of the multiple crises in the Lebanese context, where SMEs have been significantly impacted. A descriptive-analytical method is used to analyze quantitative data based on 379 SMEs conducted by the World Bank between November and December 2020. Descriptive tests and the mean comparison (T-test) are used to analyze the data and understand the interaction between groups. The main results show that the business sector has no impact on SMEs’ performance. However, employees’ salary is the most relevant variable that affects SMEs’ performance. Salaries are reduced by 90.38% and positively affect liquidity and working hours changes but negatively affect clients’ demand, prices, and sales variation. It could be explained by the reduction of SMEs’ costs, working hours, and employees’ low motivation because of the low demand from the clients’ side. The liquidity is negatively affected by demand and prices, which reflect the low income of SMEs in times of multiple crises. To better understand and interpret the phenomenon of SMEs’ performance in times of multiple crises, we suggested a first model that reveals the effect of several factors on SMEs’ performance, which has barely been studied in the Lebanese context.

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