SMEs program conducts 666 feasibility studies in 5 months

shahennews

 A government program dedicated to supporting small, medium and micro enterprises (SMMEs) conducted in January-May of the current year about 666 feasibility studies for projects the investment value of which is estimated at about JD16 million.

Out of the total, 422 or 63 percent of these studies saw their respective projects established on the ground, providing jobs for 763 people at an investment value of JD7 million, according to Sami Olaimi, head of the central support unit at IRADA, an SMMEs-targeting Ministry of Planning and International Cooperation program.

In an interview with the Jordan News Agency (Petra), Olaimi indicated that a total of 338 projects received funding from third parties while 75 projects were self-funded, in addition to 9 projects that received grants, noting a decline in the value of grants extended to IRADA-sponsored projects.

Around 51 percent of established projects was in the commercial sector, followed by the services sector 24 percent, the agricultural and industrial sectors 12 percent and finally the tourism sector with 1 percent, according to Olaimi.

He explained that the IRADA program aims to sustain businesses and employment, motivate citizens to move towards self-reliance, and introduce them to investment in order to change preconceptions about business-doing.

Olaimi added that the program provides a package of advisory services to investors and business owners with the aim of ensuring the success and sustainability of their projects, in addition to coaching and training.