Strengthening businesses, developing digital economies and building relations between entrepreneurs from the European Union and its Eastern partner countries are at the heart of the discussions at the 4th Eastern Partnership (EaP) Business Forum in Estonia on 26-27 October 2017.
The event brings together more than 450 business leaders, politicians and government officials from Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, Ukraine and the EU Member States. It is one of the key side events being held in preparation for the 5th EaP Summit that will take place in Brussels on 24 November 2017.
In Armenia, the EU assists companies with (1) funding, (2) training, and (3) export support to new markets through the EU4Business initiative. Since 2009, 268 billion AMD (€473 million) has been provided in total for 25,000 Armenian companies.
What kind of EU support is available for Armenian businesses?
- More access to finance:
- Loans for women-led businesses
- Micro credits for setting up or developing a small business
- Grants for innovation and high tech start-ups
- Stronger business skills:
- Tailored advisory services and technical support to companies – HR, IT, management structures, business models, etc.
- Training programmes to improve skills of entrepreneurs in key areas
- Tailored training and mentoring for women entrepreneurs
- Support to civil society organisations to generate income via social entrepreneurship
- Better access to new markets:
- Business advice and training for export-oriented companies
Who has already benefited?
- The ‘Ingredient Café’ received a grant from the EU to develop a new website. This brought 80% more customers. Now the café employs 12 people. More.
- The ‘Smart Construction’ company received funding from the EU to develop an IT system to manage its business better. As a result, Smart Construction increased its turnover by 123%. More.
- ‘Levart’s Food, Pizza and Sandwich Shop’ received a loan from the EU to expand to new premises. Now with two locations, turnover has doubled and four more people have been recruited. More.
