Business Growth Activity

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Business Growth
Business Growth
Fact Sheet

BACKGROUND 

Jordan has yet to unlock fully the potential of the small and medium enterprises that drive its economy. As the COVID-19 crisis has decimated private sector employment and small and medium enterprise revenues worldwide, these challenges take on a new urgency today. Small and medium enterprises must create new and permanent jobs in order for Jordan to combat its rising unemployment rate. However, financing limitations, institutional barriers, and social norms impede the potential for small and medium business growth. Rising fiscal deficits leave the Government of Jordan with limited flexibility to respond to these challenges. Instead, an approach driven by the private sector is required to support these enterprises to improve operational and management practices, access growth capital, overcome institutional barriers, and participate in broader reform efforts.  

PROJECT OVERVIEWS 

The USAID Business Growth Activity will enable Jordan’s small and medium enterprises to improve their productivity and competitiveness, create new jobs and innovations within a range of sectors, and advance Jordan towards a more prosperous, resilient, and inclusive future. Through a series of evidence-based interventions, the Business Growth Activity will support these enterprises with direct firm-level assistance and broad-based capacity building programs to mobilize millions in capital, and address constraints through advocacy and public-private dialogue that complements USAID’s policy reform initiatives. The activity strives to allow growth-oriented small and medium enterprises to reach new markets and buyers, increase collaboration along value chains, and improve efficiency and quality to meet demand. The activity will empower these enterprises to access tailored and competitively priced debt, equity, and new hybrid financial products to operate within a more responsive business environment better informed by public-private dialogue and advocacy. This will allow small and medium enterprises to engage women, youth, and persons with disabilities, and increase sales, exports, and broad-based job creation.  

EXPECTED OUTCOMES  

  • Benefit hundreds of firms, including start-ups, small, and medium sized enterprises.
  • Increase employment within beneficiary firms by at least 20 percent. 
  • Support at least a 35 percent increase in sales and a 30 percent increase in exports among beneficiary firms. 
  • Facilitate at least $70 million in new debt and equity financing for Jordanian businesses. 
  • Provide small and medium enterprises with a platform to advocate for growth-enhancing policy reform at various levels. 
  • Create jobs and increase economic opportunities for women, youth, and persons with disabilities. 

Last updated: June 15, 2022

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