The Jordanian economy, like so many developing economies, has relied heavily on government spending- a fact that created a private sector unable to develop viable companies capable of encountering the challenges brought about by globalization.
Entrepreneurship has not been part of the Jordanian business culture although 70 percent of the Jordanian population is less than 30 years of age representing vast untapped economic resources. Thus, a new business mentality and new generation of entrepreneurs beyond the traditional inherited business philosophy of local industries is needed in order to claim a greater share of the regional and international export markets.
Emanating from this need, a group of young Jordanian entrepreneurs, worked under the auspices and guidance of the Friedrich Naumann Foundation, on the establishment of the Young Entrepreneurs Association (YEA) since December 1997.
The association was officially established in November 1998 as a non-profit organization dedicated to promoting and encouraging Entrepreneurship in Jordan and educating Jordanian businesspeople on the social and economic value of non-conventional ideas…read more