Jordan’s Business Growth Scene: An Inside Look at the Most Effective Activities
Jordan, a small country in the Middle East, has emerged as a hub for businesses in recent years. The country has steadily grown in the fields of technology, innovation, and entrepreneurship, making it an attractive destination for investors and startups. This article will delve into the most effective activities driving business growth in Jordan.
Government Support for Business Growth
The Jordanian government has designed policies to create a favorable environment for business growth. The government has adopted initiatives that have helped to transform Jordan into a knowledge-based economy. For instance, the Jordan Economic Growth Plan has outlined the importance of innovation and technology in driving economic growth and the development of the country.
Additionally, the government has provided tax incentives and reduced bureaucracy for entrepreneurs and investors. For instance, new businesses receive a tax holiday for the first five years. Moreover, the government has established a one-stop-shop to streamline business registration and licensing, making it easier for investors to set up businesses in Jordan.
Access to Capital
Access to finance is essential for startups and small businesses. That’s why Jordan has developed a vibrant financial sector, with several banks and investment companies providing funding for businesses. Furthermore, Jordan has ventured into crowd-funding, a relatively new concept in the region. Crowd-funding platforms like Liwwa have provided a crucial opportunity for startups to access finance.
Business Incubators
Jordan has a thriving business incubation scene, with several programs designed to nurture startups and help them grow. Zain Innovation Campus (ZINC) is a leading business incubator in the region. ZINC offers startups office space, mentoring, and networking opportunities, among other services. In addition, Oasis500 is another leading business incubator, with several successful startups under its belt.
Investment in Innovation and Technology
Jordan’s investment in innovation has paid off significantly. Accelerators and incubators such as Oasis500 and ZINC foster innovative startups with cutting-edge technology. Jordanian startups have developed solutions that are critical to industries such as healthcare, agriculture, and energy.
For instance, in the energy sector, Orange Solar System designs and installs solar systems for homes, offices, and factories. In healthcare, altibbi.com provides an online medical consultation platform. The platform has transformed healthcare delivery, especially in rural areas where access to healthcare is limited.
In conclusion, the Jordanian business growth scene has witnessed tremendous growth in recent years. The country’s favorable business environment, access to capital, thriving business incubation scene, and investment in innovation and technology have contributed significantly to this growth. Investors and entrepreneurs looking for an attractive business destination should consider Jordan.
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