A Turn-around Opportunity -Jordan’s National Strategy for Entrepreneurship Development and SME Growth
The Young Entrepreneurs Association in partnership with the Friedrich Naumann Foundation for Liberty organized an event in the Jordanian Economic Breakfast Series (JEBS) under the title “A Turn-around Opportunity -Jordan’s National Strategy for Entrepreneurship Development and SME Growth (2014-2018)” on the 7th of April 2015.
Ms. Hana Uraidi, Acting CEO for the Jordan Enterprise Development Corporation (JEDCO), was the keynote speaker, talking about Jordan’s National Strategy for Entrepreneurship Development and SME Growth (2014-2018).
Ms. Uraidi stated that 97% have fewer than 10 employees which is disproportionately high, compared to developed Countries. She mentioned that the vision for the national strategy is the Creation of an environment conducive for SMEs to grow and entrepreneurship to flourish in both urban and rural areas so they may contribute more fully to generation of jobs, economic wealth & social well-being.
Six barriers for the development of Micro, Small, and Medium Enterprises in Jordan Uraidi mentioned, which are: a weak entrepreneurial culture, lack of entrepreneurial and management skills and capacity, lack of access to financing, lack of innovation and technology adoption/development, limited market access, and legal, regulatory and administrative challenges>
Uraidi also presented the objectives of the national strategy which are: increase the rate of new business formation, including among university graduates and women, expand the number of high-growth and innovative SMEs, increase the number of SMEs benefiting from upgrading and quality enhancement programs, and facilitate access to business development services and financing in all governorates.
Around 90 guests attended the event which was concluded by a lively Q&A session.