Nine Percent of Jordan’s Entrepreneurs Create the Majority of Its New Jobs
Scaleup companies are creating job opportunities for thousands of Jordanians according to a new report released by Endeavor Insight.
Scaleups, defined as companies more than three years old with a minimum of 20 percent average annual employment growth, are critical to the economic and social development in Jordan. Utilizing World Bank data, the report found that these businesses represent just 9 percent of the country’s total number of firms but created 53 percent of net new jobs in the past three years.
The job creation impact of scaleups is certainly needed in Jordan. The country’s workforce is projected to grow by more than 330,000 people by 2020, the demand for new jobs has never been higher. A reported 200,000 people in Jordan are currently unemployed, a rate that is especially high among 15 to 24 year olds.
To download our full report on scaleups in Jordan and learn more about its methodology, click on the embedded link below.