Small- and medium-sized enterprises (SMEs) are a key component of any healthy economy, and all the more so for Libya as it tries to diversify away from its overwhelming dependence on the energy sector.
It was therefore encouraging to see three exciting firms selected as winners of the Libya Diaspora Marketplace (LDM) entrepreneurship competition, which was sponsored by USAID and Western Union. The companies -- Halo Automotive, Noour, and Rawaabit -- will receive funding and technical assistance to help them grow their respective businesses, and Libya Business News wishes them every success.
Aspiring entrepreneurs will soon have another opportunity to try out new ideas at the Global Entrepreneurship Week (GEW), an international project designed to introduce young people to ideas about entrepreneurship. GEW Libya will be held from 18th to 24th November, hosted by Qatari-based Silatech in collaboration with the Libyan Bokra Organisation.
Libya needs new businesses, and creating an environment where enterprising men and women can prosper must be a priority for government at all levels.
