The EU4Business project for ‘Boosting competitiveness of regional SMEs’ in Armenia is launching its ‘Successful Start’ programme aimed at start-ups, SMEs that have been in business for the last three years, and job seekers in business managerial positions, in the regions of Armavir, Lori, and Syunik.
The targeted sectors of the programme are food processing and tourism.
The ‘Successful Start’ programme is being rolled out by the Small and Medium Entrepreneurship Development National Centre (SME DNC), jointly with the European Union and the Ministry of Territorial Administration and Development.
In the Armavir region, the programme will be available in following cities and communites: Armavir, Vagharshapat, Myasnikyan and neighbouring communities.
In the Lori region, the programme will be available in following cities and communites: Alaverdi, Stepanavan, Vanadzor and neighbouring communities.
In the Syunik region, the programme will be available in following cities and communites: Sisian, Goris, Kapan and neighbouring communities.
The programme includes: training, information, professional consulting and financial support components.
By participating in the programme, start-ups and acting SMEs will improve their entrepreneurial skills and will obtain knowledge of marketing, management, production and finance planning and relevant business skills.
During the programme, with the guidance of experienced professionals, start-up businesses will first develop their own business plan, then embark on its implementation.
The most viable business ideas receiving the highest appraisal will have an opportunity to apply for financial support through grants for the creation of new jobs of up to 2 million AMD, and loans through partner banks of SME DNC under the following conditions:
• amount - 5 million AMD,
• annual interest rate - 10%,
• period – maximum 5 years,
• collateral – SME DNC Guarantee 100% .
To register in the Armavir region, click here for full details.
To register in the Lori region, click here for full details.
To register in the Syunik region, click here for full details.
About the project
Funded by the European Union, the EU4Business project for ‘Boosting competitiveness of regional SMEs’ in Armenia works to boost the competitiveness of regional SMEs and to create employment opportunities in the Armenian regions (marzes) of Lori, Syunik and Armavir, focusing on the sectors of food-processing and tourism. It promotes the development of entrepreneurship by creating favourable conditions for start-ups and strengthening the capacity of local SMEs, while also providing relevant skills to job seekers, and developing local capacity to encourage the further promotion of economic development initiatives.