Authors: Fuad N. Al-Shaikh
Addresses: Department of Business Administration, College of Economics and Administrative Sciences, Yarmouk University, P.O. Box 566, Zip Code 21163, Irbid, Jordan
Abstract: This research aims to investigate the opportunities and challenges of entrepreneurial firms in developing countries, with particular reference to Jordan. Data was collected via a questionnaire developed following a review of previous studies. The analysis is based on the responses of 140 small firms operating in Irbid Governorate. Of responding firms, 26.40% are less than five years old. Most entrepreneurs are university graduates and below 40 years of age. The greatest challenges faced are lack of finance, high raw material prices, and high interest rates. Most entrepreneurs had no training before starting businesses. Entrepreneurs considered skills in finance, marketing, and preparing business plans the most desirable. Company age, size and entrepreneurs qualifications explain 33% of obstacles, i.e., the younger and smaller the company and the less qualified the entrepreneur, the more serious the challenges. Respondents believe firms should be supported to play their role in the country's development. Recommendations are made in light of results.
Keywords: entrepreneurship; developing countries; Jordan; challenges; opportunities; entrepreneurial development; entrepreneurs.
Journal for International Business and Entrepreneurship Development, 2013 Vol.7 No.2, pp.163 - 178
Available online: 17 Dec 2013 *Full-text access for editors Access for subscribers Purchase this article Comment on this article