Jordan is becoming 'a hub of entrepreneurial energy'

AllWorld Network co-founder Deidre Coyle said Sunday that Jordan is becoming “a hub of entrepreneurial energy”. Coyle was speaking during a celebration for announcing the findings of the AllWorld Network in ranking the Kingdom’s fastest growing private companies founded by “aspiring Jordanian entrepreneurs”. AllWorld Network is an international organisation that seeks to find and scale “all the growth entrepreneurs of the emerging world” to create an information system and network of growth entrepreneurs, according to its website. The network announced the “Jordan Fast Growth 30”, which ranks 14 Jordanian companies based on their three-year growth rates and lists 18 others as “Start Ups to Watch”. The 32 companies were officially credentialed as “Allworld Entrepreneurs” on Sunday. The “Jordan Fast Growth 30” includes the fastest growing private companies from any industry that previously applied to the network. Applicants completed a detailed survey of their business strategy and operations and provided audited statements or an audit letter to verify their revenues, according to the network. An AllWorld report on the rankings states that “the power of the Jordan30 is that for each company that succeeds, all of Jordan shares in that success”. “What truly distinguishes the Jordan30 is the dominance of knowledge-based companies, with Jordan achieving the AllWorld [number] one spot for a creative economy,” the report added. The top ranking company in growth was Jeeran, “the largest website in the Arab world that caters to user-generated material”, with a three-year revenue growth rate of 300 per cent, followed by Amani Tours (202 per cent) and Amman Consulting Engineering and Planning Office (196 per cent). In total, the 14 ranked companies’ average growth rate stood at 133 per cent ($3,260,194), according to the AllWorld report. The 32 companies provide employment for 1073 employees in total, with an average of 36 for each company, creating 501 jobs between the years 2006 and 2008. According to the report, the largest number of the companies work in the e-commerce and web services field (19 per cent), followed by communications, consumer goods and scientific services, with each accounting for 13 per cent. The “Jordan Fast Growth 30” is part of the “Arabia Fast Growth 500” that will be announced in November at the Arabia 500 Awards and Global Summit, scheduled to be held in the Kingdom, according to the AllWorld Network.