Touted as one of the primary axes for the salvation of national economies, SMEs and entrepreneurship have become one of the foundational drivers for the creation of economic value, source of innovation, employment, and wealth generation across the globe. In Lebanon, over 90% of enterprises currently active in the economy can be categorized as SMEs. Despite the significant attention Lebanese SMEs and entrepreneurs garnered over the past few years, leveraging this economic engine has been a series of independent efforts that have led to mixed results. However, as this study will show, Lebanon boasts all the right ingredients for success: educated entrepreneurs who seek to monetize opportunities, a sophisticated financial industry with global tentacles, talent with multinational experience, and unique capabilities that historically allowed Lebanon to outshine its expected fair share of the global economy. Yet, Lebanon still faces several challenges that impede reaping the full benefit of SMEs. Today Lebanon has a unique opportunity to galvanize all parties to work in unison towards developing SMEs and entrepreneurship as a new pillar of the Lebanese economy. This strategy document, while mandated by the Ministry of Economy and Trade, is meant to be a working roadmap for both the private and public sector entities in order to ensure the coherence of efforts to support and develop this undoubtedly vital element of the economy.