NEW REGULATIONS ENABLE HOME-BASED ENTREPRENUERS ACROSS JORDAN TO ACCESS FINANCING AND OTHER BENEFITS
Under the patronage of Prime Minister H.E Dr. Hani Al Mulki, today the United States Agency for International Development (USAID) helped launch an improved legal mechanism for home-based businesses Thanks to new regulations under the Buildings and Zonings for Cities and Villages., home-based businesses across Jordan can apply for and attain a vocational license, enabling them to operate as formal businesses, something available only to the Greater Amman Municipality before.
By minimizing startup costs and bureaucracy, the newly-passed legal mechanism for licensing home-based businesses will help businesses become part of the formal economy, enable them to sign legally-binding contracts, and gain access to finance from banks or other financial entities to help them grow and develop.
Held under the patronage of the Jordanian Prime Minister H.E Dr. Hani Al Mulki, the event announced the new regulations, which were developed over the last year with support from the USAID Jordan Local Enterprise Support Project (LENS) in partnership with a committee led by the Ministry of Industry, Trade and Supply, Ministry of Municipal Affairs, the Greater Amman Municipality and other government entities.
USAID Jordan’s Acting Mission Director Mr. Lewis Tatem welcomed attendees in his opening speech and emphasized the value of home-based businesses for their positive and sustainable impact on the economy and society as a whole. He pointed out that according to research funded by USAID Jordan, home-based businesses, when formalized, can contribute 10 million JOD directly and 40 million JOD indirectly to the Jordanian economy every year. The new regulations will have a positive impact on more than 12,000 home-based businesses in Jordan.
The United States government, through USAID, has provided foreign assistance from the American people to Jordan for more than 60 years.