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.
For entrepreneurial activates to succeed in Jordan, the YEA recognizes the need for it to act as an advocate for certain legislative change on a national, consumer oriented, mercantile mindset into a productive, creative mentality, which must become the basis for economic growth.
The YEA was created to cater to specific needs for young businesspeople that either own their own businesses or hold senior executive positions in a company. Since establishment, the association generated over 150 active members representing all sectors of the economy.
The association’s 9-member Board of Directors meets regularly to formulate and approve policy as well as develop an annual program of work specifically targeted toward responding to the needs of YEA members.
The YEA strives to create an entrepreneurial and leadership culture as the cornerstone of national economic development.
The Young Entrepreneurs Association was established in November 1998 as a non-profit organization with the mission of creating outstanding young entrepreneurs through idea exchange, fellowship, education, training and advocacy, to enhance entrepreneurs’ skill level allowing them to compete in the global economy.