Entrepreneurship is a critical enabler for socio-economic change and sustainable development as it creates new jobs, generates economic growth and brings about the production of new innovations.
Within communities, job creation allows wider social circles (such as towns and cities) to grow and thrive. Insights from an Endeavor research report (2018) show that communities with fewer jobs and entrepreneurial opportunities tend to get trapped in decline. It states:
‘Entrepreneurs play a critical role in cities and nations as they create new jobs, generate economic growth, and spread the development of new innovations. When local entrepreneurship communities are productive, their cities and regions are more likely to thrive, but when entrepreneurship communities struggle, cities and regions can become trapped in decline’.
Entrepreneurship is therefore a timely tool for Jordan given its sluggish economic growth and unemployment levels.