Project Name : The National Self-Employment Program “Inhad”
- CBJ , ABJ, IRADA
The national program for self-employment “Inhad” enables youth, between ages 18-45 years old, to establish their own SMEs through providing them with technical and financial support in addition to networking them with the ecosystem. The program budget is JD100M allocated from the Central Bank of Jordan (CBJ) and is lent as concessional loans through commercial and Islamic banks. The loan amount ranges between JD5k to JD250k and is guaranteed by the Jordan Loan Guarantee Company (JLGC) up to 85%. The program has the Business Development Center (BDC), UNICEF and IRADA-MoPIC as its technical arms to train youth on entrepreneurship and conduct feasibility studies.
The program process starts with applying to “Inhad” through its website www.inhad.jo, which is an ongoing process. The application then goes through three stages of filtration; (1st) initial screening (2nd) scorecard assessment (3rd) technical interview, which takes a period of 14-20 days.
The accepted applications are transferred to JLGC for credit check to ensure applicant’s legitimacy to take loans, which takes a period of 7 days.
- Following that, participants join training sessions (15 days) as follows :
- Capacity Building, Introduction to Entrepreneurship Workshop (3 days)This training is considered the initial phase to introduce entrepreneurship concept and social entrepreneurship to guarantee the readiness of selected youth and observe performance of selected beneficiaries and how serious they are.
- Capacity Building on Entrepreneurship (6 days) This training consists of 6 Training Days, which aims to build the capacity of the participants through enhancing their behavioral and entrepreneurial competencies , by end of the workshop each participant will improve the following competencies: 1. Opportunity Seeking and Initiative . 2. Persistence. 3. Fulfilling Commitments. 4. Demand for Efficiency and Quality. 5.Taking Calculated Risk. 6. Goal Setting. 7.Information Seeking. 8. Systematic Planning and Monitoring. 9. Persuasion and Networking. 10. Independence and Self-Confidence.
- Access to Finance (5 days)
This workshop aims at introducing the basic financial culture and how to practice it for non financial entrepreneurs who owns SMEs. It will support their application experience in diagnosing financial status and introduce them to challenges and competitiveness advantages they have. This will be reflected positively on their major functions which is expanding their profit, increase their fortune and support their capability of gaining funds.
4- Legal awareness (1 day)This one-day session aims to get entrepreneurs familiar with the law (commercial, labor, taxation…) and complying to it to give the entrepreneur and his/her business best protection.After concluding the training, IRADA will be responsible to conducting feasibility studies, which needs 45 days per study. Participants are then ready to apply for funding through a shared electronic platform with banks. Banks need 20-60 days to decide on funding and execute projects. That is, process timeline from application to execution is nearly 90-120 days. However, applicants who are identified to be qualified shall pass the technical part and apply for funding directly through the fast track.Once loans are provided and businesses registered, youth and women beneficiaries will receive refresher trainings (bootcamp).
- 1st Module
- Day One: Empretec Refreshing session (5 Hours)The course will give the participants a practical tool that will help to assess their strengths and weaknesses and let them distinguish the traits of the 30 behaviors they have practiced since they completed the workshops. The refreshing course will encourage the participants to turns behaviors into habits and apply them to their business development.
- Day Two: Cash Flow Management & Loan Payments Management (5 Hours). The session will cover how to manage business cash flow in a practical way using a financial tool by discussing and analyzing many different scenarios which could help participants in preparing for the future and tackling any problems with cash flow and this will be linked with how to manage loan payments in a collaboration between Financial & Legal experts who will be available for open discussion based on any questions related to the discussed scenarios. At the end of the Bootcamp, each participant will be asked to use the financial tool and fill it with his business financial data and share it with us to be used in the mentorship.
- Day Three: Sales, Marketing and Networking (5 hours) .The session will equip the beneficiaries with digital marketing skills, they need to grow their presence online and compete, learn how to increase sales and break-even also will have the chance to understand the art of networking and Meet up with other beneficiaries where they might have a sort of collaboration
- 2nd Module
Beneficiaries will be conveyed throughout the 3-day Bootcamp through “know-how” interactive sessions, brainstorming, practical cases, networking opportunities as follows:
- Day One: We empower the participants to put the right vision with the right passion and motivation, then we discussed their marketing and sales strategies in addition to “V2MOM” process which stands for Vision, values, methods, obstacles, and measures.
- Day Two: Each participant is being coached one to one on how to strategically plan for his/her business for the first year, calculate monthly incomes and outcomes, effectively market his project or product, understand the tools needed to measure his success in a monthly or yearly basis. Participants are being developed in the business mentality and being qualified to understand how to manage their business effectively. The measurement helped the participants to measure the profits, income, manufacturing, and labor if needed. Finally assigning the right expert/s for his/her project needs and Inhad team will work on introducing them to the ecosystem and help in developing business linkages between them.
- Nationality :Jordanian.
- Age: (18-45).
- Established business with less than 5 years old / Business Idea.
- Passing the filtration process including focus interview.
- All over Jordan