Celebrating Global Entrepreneurship Week 2020

Every November, the world prepares to celebrate the Global Entrepreneurship Week. Where innovators receive encouragement and support for the ideas they’ve turned into a reality and the work opportunities they created for members of their societies.

For 2020, we combined our efforts with the European Bank for Reconstruction and Development (EBRD), the European Union (EU), and Schema to offer female entrepreneurs a training program under the title of ‘Legal Knowledge and Finance Options for your Business’.

Due to the current social distancing restrictions brought about by COVID-19, the training program will be conducted online, and will focus on equipping female entrepreneurs and business owners with the legal knowledge needed for their business’ lifecycle; whether it’s in the startup stage, the growth stage or exit stage.

The training program for the startup category aims to improve legal knowledge and access to finance for female entrepreneurs in Jordan by addressing all aspects of the foundation stage that startups go through.

Starting with idea creation, developing a business plan and legal knowledge and ending with ways to obtain financing and advisory services. The training will also cover the steps and documentation needed for the registration process, licenses and permits, intellectual property rights, social security, health insurance, and other elements of importance for this stage.

The growth stage training program will shed light on the challenges that these businesses might face; it will help companies identify resources that will help them face these challenges and will expose them to existing networks that can assist them. Financing solutions available to them to grow and develop their businesses will also be discussed.

Moreover, given the importance of tax considerations and being aware of how contracts are formulated, a large part of the program will be devoted to addressing these topics, along with governance and compliance, intellectual property rights, import and export, and everything else these companies need to know about case management and litigation.

The training program will conclude with the exit stage, focusing on the reasons for ending operations, and clarifying the difference between closing a business and liquidating assets. One of the most crucial topics that will be addressed for this category is familiarizing participants with the obligations brought about from termination and closing their firms, and how best to manage them so as to avoid the ill-effects related to this stage. The training program will also cover alternatives to liquidation, bankruptcy and their implications.

At Bank al Etihad, we believe that Jordan is full of talented people who can shape the world around us, and we want them to be the best they can be. That’s why we’ll always champion business and enterprise, from young startups to seasoned entrepreneurs and provide them with the tools and support they need to succeed.