The vast majority of businesses in Armenia are SMEs. They are responsible for nearly 80% of all jobs in the country. Despite this, they make up only 27% of Armenia’s GDP. EU4Business works to build a conducive business and investment environment to help SMEs reach their full potential. Programmes improve access to finance and new markets, target women entrepreneurs and SMEs working in green energy and also encourage social entrepreneurship. EU4Business is part of the EU’s wider efforts in the country which make it one of Armenia’s main economic partners.



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Success stories

The economic development of any country can be correlated to the equal development of its regions. Armenia is no exception. Once a gym and now a modern business centre, the Sevan Innovative Business Centre has already become a hub for new business ideas and initiatives in Sevan, a popular Armenian resort town located in the eastern province of Gegharkunik. Helping the SMEs, especially young...
With support delivered by the OECD under the EU4Business initiative , Armenia and Ukraine have improved their statistical systems and started to produce internationally comparable indicators on the structure and performance of the SME sector. This will allow Armenian and Ukrainian governmentsto implement appropriate policy measures to support SME development and monitor their impact on the SME...
Art Lunch , an Armenian enterprise providing food, catering and hospitality services, has been able to move to e-marketing model that increased turnover by 78% and improved sales by 31% with EU4Business support through the EBRD’s Advice for Small Businesses programme. In turn, the company has been supporting Armenia by providing food to 1,500 COVID patients and individuals who have become...