The majority of studies in the area of corporate bankruptcy detection are generally concerned with the analysis of corporate financial ratios. Except these who are only symptoms of the process of the decline. The desire to better understanding the processes of bankruptcy obliges us to broaden the domain of expertise of financial analysis and integrate aspects of a qualitative order, relating more to the modes of organization of the company in relation with its environment. The objective in this paper, aims to broaden the debate by identifying the determinants of the bankruptcy of Tunisian SMEs through the use of qualitative variables alongside quantitative variables for forecasting the failure of companies, using the analysis in the main component and discriminant analysis. This approach allows a better explanation of the risks of bankruptcy and a better identification of the precursor signs of bankruptcy. In operational terms, this research aims to make a contribution to all decision makers inside and outside the company. In fact, to offer a clear vision to forecasting techniques and to show the contribution of qualitative variables in terms of early detection of business bankruptcy.