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In Jordan, particularly its capital Amman, an entrepreneurial boom has breathed life into the region and drawn international attention. A growing number of Jordanians, as well as expats living in Jordan, are pursuing their own businesses and finding success in doing so. What can explain this rise of entrepreneurship in the country? Here’s a brief breakdown:
Internet Infrastructure
There’s no doubt that the Internet has been a major catalyst for start-ups across the globe – not just in Jordan. With Internet access, launching a business is as simple as building a website, and promoting that business is as simple as sharing content on social media.
Not all business ideas will thrive because of the Internet, but for those that do, the Internet is vital to their success. The fast Internet connections available within Jordan’s capital have made it the base for many entrepreneurs and start-ups that rely on the web to conduct business.
University Education
Jordan is home to a growing list of universities and institutes of higher education. The University of Jordan, the country’s oldest university and one of the most prestigious places of higher education within the Middle East, has cultivated a lot of young talent. Students from the University, as well as other institutes in the city, often stay in Amman after their studies to pursue their own businesses.
Political Stability
In a region where war and uprisings seem commonplace, Jordan, for the most part, has managed to stay out of the fray. Relative political and economic stability in the country has given its residents the confidence to pursue their business ideas. Starting a business always comes with an element of risk, and the fact that so many Jordanians are willing to take that risk speaks to the country’s relative stability. From a practical standpoint, tasks like applying for a business credit card or leasing office space are far easier in Jordan than within the crumbling infrastructure of its neighbours.
Non-profit Support
One of the most significant influences among the entrepreneur community in Jordan is the non-profit organisation Endeavor Jordan. The non-profit provides support for entrepreneurs, offering mentors, strategic advice and access to important networks of potential investors and collaborators.
The rise of entrepreneurship in Jordan makes it a key place to look for inspiration on how to improve other economies within the Middle East. Replicating Jordan’s success in neighbouring countries, however, could prove difficult without the necessary political infrastructure in place. One could also argue that the country’s relative lack of oil has been key to its success by driving competition and forcing its economy to diversify. In oil-rich countries like Saudi Arabia and Kuwait, the opportunities for entrepreneurial growth may be far less obvious.
[Featured image by http://www.flickr.com/photos/rnw/]