EU4BUSINESS IN ARMENIA

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.

Looking for support?

News/Press

In the fly - winners of the contest
The three winners of the hackathon aimed at generating innovative ideas for tourism in Armenia have been announced by the jury at the Vanadzor Technology Centre (VTC) in Armenia’s Lori Region, at the end of an event supported by the EU-funded SMEDA...
tourism hackathon
A hackathon aimed at generating innovative ideas for tourism was launched on 7 April at the Vanadzor Technology Centre (VTC) in Armenia’s Lori Region, supported by the EU-funded SMEDA project for support to SME development in Armenia, in partnership...

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...
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...
With funding from the European Union under the EU4Business initiative, the European Bank for Reconstruction and Development (EBRD) has helped an Armenian IT company to introduce Information Security Management Systems in accordance with international standards, leading to a soaring growth in exports. Under its Advice for Small Businesses (ASB) programme, the EBRD supported VOLO LLC, an IT...