Latest news with #JEDCO
Yahoo
10-07-2025
- Business
- Yahoo
Jefferson Parish announces creation of design district
JEFFERSON PARISH, La. (WGNO) — Jefferson Parish officials announced the creation of a design district in Old Jefferson Tuesday, July 8. According to Jefferson Parish Economic Development Commission officials, the area is already home to various design-related businesses. The Jefferson Parish Council approved the formation of the district in June. It is centered around Jefferson Highway and extends from River Road to Earhart Expressway between Monticello and Brooklyn Avenues. Louisiana Red Cross mobilizes to help Texas flood victims, urges volunteers to join effort Officials said this designation enables property tax incentives, provides access to capital through JEDCO and encourages long-term investment by design businesses of all sizes. Karin Nelson, owner of Design Center New Orleans, approached JEDCO with the idea to officially designate the 230-acre area as a hub for design. JEDCO rallied support for the project by adding it into Jefferson 2025, Jefferson Parish's long-term economic development strategy plan. Flood Fight efforts paused in New Orleans for high-water season 'Louisiana has a lengthy and rich design history and we are surrounded by a vibrant design community,' Nelson said. 'With the designation of this design district, the goal is for Old Jefferson to become a design destination, attracting new businesses of all kinds to support and help our talented designers grow their companies.' Officials said the council is scheduled to ratify the area as an Economic Development District, which will allow property owners within the district to access property tax abatements through the Restoration Tax Abatement by day with Super BUCK Moon by night for Thursday Judge Seeber bridge to fully close for repairs: DOTD Walmart recalls about 850,000 water bottles after 2 people blinded Three fall into water at Glacier National Park while taking photo: rangers Iconic cereal maker WK Kellogg selling to Ferrero for $3B Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-06-2025
- Business
- Yahoo
Making room for more downtown parking
A vacant building in downtown Jacksonville is being demolished to make room for additional downtown parking. The structure located at 214 E. Rusk, known as the former Oncor building, is owned by the Jacksonville Economic Development Corporation. Demolition work, performed by the DEAA Corporation, began Thursday, June 5. According to DEAA Corporation employee Ezra Chamberlain, the work would – in good weather – take about two to three weeks to complete. With the rains continually interrupting work, it may take considerably longer. Westbound traffic is reduced to a single lane while the demolition work is in progress. DSC_0841.JPG Westbound traffic on Rusk Street/U.S. 79 is reduced to a single lane while demolition crews are working. JEDCO President Shane Pace said Frank Dobrovolny, who owns Dobrovolny Law Firm next door, will expand his business somewhat and the remainder of the space will become city parking. Pace said JEDCO is currently working towards an agreement with Dobrovolny to sell the portion of the property he wants for his expansion. Once the agreement and Dobrovolny's building plans are finalized, JEDCO can begin leveling, pouring asphalt and striping the remainder of the property for parking. Pace estimates a 90-day period for completing the project. An estimated dozen spaces will eventually be opened as free public parking.
Ammon
16-03-2025
- Business
- Ammon
Microfinance in Jordan: Challenges and opportunities for emerging entrepreneurs
Raad Mahmoud Al-Tal Small and medium-sized businesses (SMEs) are important for the Jordanian economy, helping to create jobs and encourage innovation. However, financing is a major challenge for entrepreneurs. These businesses make up about 95% of all businesses in the country and employ around 60% of the workforce. Yet, they only contribute about 30% to the GDP, and their share of national exports is less than 10%. Microfinance has become an important tool in addressing this challenge by providing financial services to individuals and businesses that struggle to secure funding. Microfinance institutions (MFIs) in Jordan, such as the Microfund for Women and JEDCO, offer loans, savings, and insurance services to people who may not have access to traditional banks. These services help new entrepreneurs start businesses in areas like agriculture, retail, and services, creating jobs and boosting economic growth. Recent reports show that microenterprises in Jordan provide about 60% of the country's total employment, making microfinance a key tool for strengthening the economy and promoting inclusive growth. Even though microfinance is important, it faces several challenges in Jordan. A major issue is limited access to capital. Microfinance institutions offer small loans, but the amounts are often too low, and interest rates can be very high. This makes it hard for small businesses to grow. Additionally, many microfinance institutions have their own capital problems, limiting the funds available for lending. Another challenge is the lack of collateral. Many microfinance clients, especially low-income entrepreneurs, do not have assets to use as collateral for loans, making it riskier for lenders and leading to higher interest rates or hesitation to lend. Without collateral, it is difficult for many microenterprises to get loans, limiting their ability to grow. On top of financial problems, many entrepreneurs in Jordan lack financial knowledge. Without understanding how to manage money, borrowers may misuse loans or struggle with repayments, which affects their ability to build sustainable businesses. This lack of financial knowledge not only makes loans harder to use properly but also increases the chances of defaulting, which weakens the microfinance system. Moreover, the process of getting microfinance in Jordan can be difficult due to bureaucracy. Although the government has made progress in supporting small businesses, getting loans often involves long procedures, lots of paperwork, and delays that can discourage entrepreneurs from seeking funding. These bureaucratic issues make it even harder for microfinance institutions to help emerging businesses. Despite these challenges, there are several opportunities to improve microfinance in Jordan. One of the best opportunities is to expand digital financing. With the rapid growth of digital technology, digital platforms for microloans can make the loan application process easier, lower costs for microfinance institutions, and help entrepreneurs, especially in remote areas, get access to capital. This innovation could connect lenders and borrowers more effectively and improve financial inclusion. Another opportunity is to improve financial literacy programs. By offering training and workshops to entrepreneurs, microfinance institutions can help borrowers manage their loans better, create business plans, and make smarter financial decisions, which will improve the success of small businesses. Additionally, more government and institutional support is needed to improve microfinance in Jordan. The government can reduce rules that limit microfinance, create policies that encourage it, and set up systems that make it easier for people to get funding. Public-private partnerships can help expand microfinance services, provide loan guarantees, and support programs that train entrepreneurs. Building trust between microfinance institutions and borrowers is also key to success. Institutions can build trust by offering fair terms, transparent processes, and clear communication about loan conditions, which will create long-lasting relationships between lenders and entrepreneurs. In conclusion, microfinance in Jordan offers a valuable opportunity for emerging entrepreneurs to access the financial services they need to grow their businesses. However, for the sector to reach its full potential, challenges like limited access to capital, lack of collateral, and the need for better financial education must be addressed. By embracing digital financing, expanding government support, and building trust between borrowers and lenders, Jordan can strengthen its microfinance sector and support a new generation of entrepreneurs. With the right policies and strategies, microfinance can be the key to boosting economic growth, reducing unemployment, and ensuring the long-term success of businesses in Jordan.
Jordan Times
15-03-2025
- Business
- Jordan Times
Microfinance in Jordan: Challenges and opportunities for emerging entrepreneurs
Small and medium-sized businesses (SMEs) are important for the Jordanian economy, helping to create jobs and encourage innovation. However, financing is a major challenge for entrepreneurs. These businesses make up about 95% of all businesses in the country and employ around 60% of the workforce. Yet, they only contribute about 30% to the GDP, and their share of national exports is less than 10%. Microfinance has become an important tool in addressing this challenge by providing financial services to individuals and businesses that struggle to secure funding. Microfinance institutions (MFIs) in Jordan, such as the Microfund for Women and JEDCO, offer loans, savings, and insurance services to people who may not have access to traditional banks. These services help new entrepreneurs start businesses in areas like agriculture, retail, and services, creating jobs and boosting economic growth. Recent reports show that microenterprises in Jordan provide about 60% of the country's total employment, making microfinance a key tool for strengthening the economy and promoting inclusive growth. Even though microfinance is important, it faces several challenges in Jordan. A major issue is limited access to capital. Microfinance institutions offer small loans, but the amounts are often too low, and interest rates can be very high. This makes it hard for small businesses to grow. Additionally, many microfinance institutions have their own capital problems, limiting the funds available for lending. Another challenge is the lack of collateral. Many microfinance clients, especially low-income entrepreneurs, do not have assets to use as collateral for loans, making it riskier for lenders and leading to higher interest rates or hesitation to lend. Without collateral, it is difficult for many microenterprises to get loans, limiting their ability to grow. On top of financial problems, many entrepreneurs in Jordan lack financial knowledge. Without understanding how to manage money, borrowers may misuse loans or struggle with repayments, which affects their ability to build sustainable businesses. This lack of financial knowledge not only makes loans harder to use properly but also increases the chances of defaulting, which weakens the microfinance system. Moreover, the process of getting microfinance in Jordan can be difficult due to bureaucracy. Although the government has made progress in supporting small businesses, getting loans often involves long procedures, lots of paperwork, and delays that can discourage entrepreneurs from seeking funding. These bureaucratic issues make it even harder for microfinance institutions to help emerging businesses. Despite these challenges, there are several opportunities to improve microfinance in Jordan. One of the best opportunities is to expand digital financing. With the rapid growth of digital technology, digital platforms for microloans can make the loan application process easier, lower costs for microfinance institutions, and help entrepreneurs, especially in remote areas, get access to capital. This innovation could connect lenders and borrowers more effectively and improve financial inclusion. Another opportunity is to improve financial literacy programs. By offering training and workshops to entrepreneurs, microfinance institutions can help borrowers manage their loans better, create business plans, and make smarter financial decisions, which will improve the success of small businesses. Additionally, more government and institutional support is needed to improve microfinance in Jordan. The government can reduce rules that limit microfinance, create policies that encourage it, and set up systems that make it easier for people to get funding. Public-private partnerships can help expand microfinance services, provide loan guarantees, and support programs that train entrepreneurs. Building trust between microfinance institutions and borrowers is also key to success. Institutions can build trust by offering fair terms, transparent processes, and clear communication about loan conditions, which will create long-lasting relationships between lenders and entrepreneurs. In conclusion, microfinance in Jordan offers a valuable opportunity for emerging entrepreneurs to access the financial services they need to grow their businesses. However, for the sector to reach its full potential, challenges like limited access to capital, lack of collateral, and the need for better financial education must be addressed. By embracing digital financing, expanding government support, and building trust between borrowers and lenders, Jordan can strengthen its microfinance sector and support a new generation of entrepreneurs. With the right policies and strategies, microfinance can be the key to boosting economic growth, reducing unemployment, and ensuring the long-term success of businesses in Jordan. Raad Mahmoud Al-Tal is head of the Economics Department – University of Jordan- [email protected]
Zawya
25-02-2025
- Business
- Zawya
Saudi Exports, Jedco sign deal to enhance bilateral ties, share expertise on non-oil exports
Amman: The Saudi Export Development Authority (Saudi Exports) signed a memorandum of understanding (MoU) with the Jordan Enterprise Development Corporation (JEDCO) in Amman on Monday. Under the MoU, Saudi Exports and JEDCO seek to enhance relations between Saudi Arabia and Jordan and exchange expertise on developing non-oil exports. The MoU was signed on the margins of the Saudi-Jordanian Business Forum.
