JEDCO holds information session for SMEs

AMMAN — The Jordan Enterprise Development Corporation (JEDCO) on Sunday conducted an information session on its “Enhancing Service SMEs to Export” programme on its premises in Amman.

The programme envisages to support service SMEs in exporting, with a total cost of JD1 million, a statement from the corporation said.

JEDCO’s CEO Bashar Al Zoubi said that a review of a previous programme which was launched to support the service sector showed that it exceeded its target and increased the rate of exports and number of job opportunities.

Zoubi pointed out that the Enhancing Service SMEs to Export, which began receiving applications on January 2, aims to support 40 local SMEs operating in the tourism and hospitality, administrative, financial and legal consulting, training, healthcare, energy, engineering and architecture services and information technology sectors in all governorates, according to the statement.

The programme will offer financial and technical grants to build administrative and production capacities to enhance exporting procedures. The maximum value of each grant is JD25,000, 40 per cent of which supports administrative capabilities, while grants will cover 50 per cent of the total project costs, the statement said.

Zoubi stressed that the programme is expected to enhance confidence in the local service product both internally and externally, provide access to exporting services to new markets, implement a group of B2B sectorial missions and network with export support bodies, increase the added value of products and services to beneficiary companies and increase the number of jobs by 240, with expected export sales of JD8 million.

The CEO indicated that to be eligible, an SME must be a legal entity in Jordan (registered at the Ministry of Industry, Trade and Supply) be at least two years old, operate in the services sector and be totally owned by the private sector with a valid professional licence.

The SME must have a minimum of one and a maximum of 250 employees, and it should be financially solvent to cover its share of the total investment cost, with export activity during one of the past three years at least and an English website, he continued.

Zoubi said that JEDCO will implement other information sessions in cooperation with Jordan Chamber of Commerce on Tuesday and with Int@j on Wednesday in order to introduce the mechanism of applying for technical and financial support from the programme and respond to inquiries from attendees.

JEDCO is the national umbrella for economic enterprise development in Jordan, inclusive of start-ups and entrepreneurship.  JEDCO supports the developments of these enterprises and strengthens their competitiveness, in addition to facilitating access to financing.  It also seeks to promote and enable policies that create a more suitable environment for business growth, according to the statement.