Success stories

The IT sphere has grown to be one of the most important industries in Armenia, with its startups, tech entrepreneurs and innovators who believe in a high tech future. One Armenian startup has created the Triple-E Augmented Reality Platform, and is expanding its business to Europe and beyond thanks to the assistance provided by the European Union. Armenia is looking to IT to grow the economy...
Sitis is a Ukrainian company specialised in ‘1C’ enterprise control systems – a universal cloud and on-premise system for automating a company’s financial and wider operational activities. In this capacity, the company has acted both as a consultant for the European Bank for Reconstruction and Development’s (EBRD) business advisory service, and as a beneficiary of those same services,...
Armenia is well known for its unique cultural and creative heritage. In music, film, poetry and painting, Armenia has nurtured artists known the world over, and seen its creative potential flourish. Now, Armenian fashion designers have a chance to highlight their creative flair, thanks to the ‘ Support to SME Development in Armenia ’ (SMEDA) project, co-funded by the European Union in the...
Since 1992, Elselema has been producing all types of clothing, with a particular focus on uniforms, outdoor wear, as well as casuals and knitted products for men, women and children. It’s a family business which has grown to operate two factories – both employing up to 200 workers – one in Tbilisi, and one in Lanchkhuti to the West of the Georgian capital. The company is no novice in overseas...
With funding from the European Union under its EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has helped Ukrainian electrical manufacturer PromAvtomatika Vinnitsa to develop and ‘clean up’ the organisational structure of the business, leading to greater efficiency and flexibility. Since 2002, the company has been engaged in the production, sale and...
Hazelnuts are a major product for Georgian agriculture. As one of the country’s top 10 export commodities, they are a source of income for more than 50,000 farmers and dozens of processing facilities. The subtropical climate by the Black Sea shore offers particularly favourable conditions for their growth, luring international confectionary giants such as Ferrero to come to Georgia and invest in...
In an age dominated by information technologies, keeping people interested in reading is becoming a real challenge. Since books are still the best way of passing on knowledge, the only solution open to publishers is to move with the times and use the new virtual tools to add value to books. In the Republic of Moldova, the EBRD’s Advice for Small Businesses , which is financed by the European...
Ludmila Antonauskaya
Ludmila Antonauskaya is a perfect example of someone defying the stereotype that women and business cannot go together. She runs several companies, is one of the TOP 100 successful businesspeople in Belarus (No. 65, but the top woman on the list), and has raised two children. Her main business – a holding company called Polimaster – is among the world leaders in the field of equipment for...
Baia Abuladze
“Winemaking had always been our family business, but we used to make it for ourselves and not for commercial purposes,” says Baia Abuladze, a 24-year old winemaker from Obcha village in the Bagdati Municipality. “Then it became an interesting job for the younger members of the family and we took steps to turn our family’s tradition into a business.” That business was Baia’s Wine. Launched in 2015...
Thousands of Ukrainian entrepreneurs dream of becoming suppliers of large retail chains in order to have guaranteed business. Tetiana Yaremchuk managed this challenge, and is now working on delivering her products to the EU. Tetiana Yaremchuk meets the journalists at the station in the city of Dnipro, sitting at the wheel of a white jeep. Dodging numerous potholes, the diminutive businesswoman...