Eight ways to boost your business in Armenia

How can my company get financial support?

EU4Business offers Armenian SMEs various means of financial support, including:

• Loans: In collaboration with local financial institutions, EU4Business provides loans with favorable terms. For instance, the European Investment Bank (EIB) has launched an extended scheme expected to unlock at least €250 million for SMEs across Eastern Partnership countries, including Armenia. Local partner banks facilitate EU-backed financial products, including ACBA Bank, Armeconombank, Ameriabank, AraratBank, and others.
• Grants: Targeted grants are available, especially for sectors like innovation, green energy, and women-led enterprises. 
• Equity: Equity funding for SMEs is available through the EU-Armenia SME Fund, managed by Amber Capital. Around $10 million has been committed by the EU and the EBRD to invest in local SMEs’ capital expenditures and expansion.

Sis Natural CJSC, a leading Armenian producer of natural juices, benefited from an equity investment through an EU-supported fund, enabling expansion into new markets.

Are there specific programmes for agriculture or food production businesses?

Yes, EU4Business places significant emphasis on Armenia’s agricultural sector through initiatives like Building Sustainable Apparel and Agribusiness Value Chains in Armenia, which aims to boost the competitiveness of SMEs in the apparel and agribusiness sectors by enhancing value chains and promoting sustainable practices. The project will be active until August 2026 – SMEs can address the International Trade Centre office in Armenia for more information. 

A young farmer from Berdavan, Gohar Aslikyan, established a cornel orchard equipped with hail protection nets and drip irrigation, with the support of the EU-funded Green Agriculture Initiative (EU-GAIA). Her initiative not only focuses on production but also includes an educational component for local youth and women, showcasing the effectiveness of innovative gardening approaches.

Where can I learn about exporting to the EU?

EU4Business offers comprehensive training programmes to enhance the export capabilities of Armenian SMEs.​

Building Sustainable Apparel and Agribusiness Value Chains in Armenia strengthens the export readiness of SMEs by improving competitiveness and supporting sustainable export growth in key sectors like agribusiness. The project will be active until August 2026 – SMEs can address the International Trade Centre office in Armenia for more information. 

Recognising the importance of meeting international food safety standards, EU4Business introduced a Food Safety and Quality Management Training programme in December 2024 aimed at agribusiness SMEs. The training covers certifications such as ISO 22000:2018 and BRC standards, crucial for accessing EU markets.

Are there tailored programmes for women entrepreneurs?

EU4Business is committed to empowering women entrepreneurs through:

• Mentoring programmes: Offering guidance to navigate business challenges (R2D Syunik: Recovery, Resilience, Development for Syunik, Three4ResilientArmenia: Fostering Sustainable Livelihoods, Business Growth, and Employment Opportunities for Displaced and Host Communities,  Building Sustainable Apparel and Agribusiness Value Chains in Armenia, SME Small Business Advise Facility). 
• Business development workshops: Enhancing skills in leadership, finance, and marketing (R2D Syunik: Recovery, Resilience, Development for Syunik, Three4ResilientArmenia: Fostering Sustainable Livelihoods, Business Growth, and Employment Opportunities for Displaced and Host Communities,  Building Sustainable Apparel and Agribusiness Value Chains in Armenia). 
• Access to finance: Providing financial instruments with favourable terms to support women-led businesses. For instance, the Women in Business Phase II project aims to boost women’s entrepreneurship by enhancing access to both financial and non-financial business development services across Eastern Partnership countries, including Armenia. EFSD+EBRD Guarantee for Armenia (via ACBA Bank): supports women-led SMEs by facilitating access to finance, know-how, and advisory services, while promoting long-term financing and product development in the local banking sector.

Pink Berry, a women-led ice cream shop in Yerevan, received support through the EU4Business Women in Business programme to redesign packaging, boost advertising, and improve financial planning. As a result, the business strengthened its market position and is now preparing to explore export opportunities.

Are there support programmes for IT and tech startups?

Yes, EU4Business actively supports Armenia’s tech sector through various initiatives:​

Supported under the EU4Business framework, the SAP Startup Factory by BANA initiative established a startup accelerator in Armenia, offering mentorship and resources to tech startups aiming to integrate into global markets. ​

The EU4Innovation East initiative directly supports digital innovation and tech entrepreneurship in the Eastern Partnership region, including Armenia. It aims to strengthen the startup ecosystem, enhance alignment with EU markets, and foster the growth of digital tech sectors. 

Founded by Nelly Davtyan in 2016, this Armenian IT company leveraged EU4Business support to establish connections in Greece, facilitating growth and innovation.

Where can I get legal support?

While EU4Business doesn’t directly handle business registration, it offers advisory services (providing guidance on legal frameworks, tax regulations, and compliance matters) and training programmes (enhancing understanding of the business environment and regulatory requirements). 

The Amida Medical Center benefited from EU4Business support, ensuring compliance with industry standards and enhancing service quality.

How can companies outside Yerevan get support?

EU4Business actively supports rural SMEs by offering targeted financing, advisory services, and training tailored to their needs. 

Programmes like the EU4Business-EBRD Credit Line help rural companies modernise equipment, adopt green technologies, and improve competitiveness.

R2D Syunik: Recovery, Resilience, Development for Syunik project focuses on the recovery and resilience of MSMEs, and supports green, small-scale infrastructure development in the Syunik region.

Three4ResilientArmenia: Fostering Sustainable Livelihoods, Business Growth, and Employment Opportunities for Displaced and Host Communities fosters business growth and employment opportunities for displaced and host communities in rural areas through training, incubation, and access to finance.

Beeography, a guest house in Vardablur, Lori region, received a €32,000 EU4Business grant to create a honey-tasting centre and promote eco-tourism rooted in Armenia’s beekeeping traditions.

Where can I learn about available support?

To make sure you don’t miss out on new funding, training, and events, you can:

• Visit the EU4Business Armenia country page: eu4business.am
• Subscribe to the EU4Business newsletter: https://eu4business.eu/ 
• Follow the EU Delegation to Armenia and GIZ Armenia on Facebook
• View ITC projects and Austrian Development Agency projects in Armenia 
• Explore the Eastern Partnership Trade Helpdesk to analyse export-related data
• Attend local events and info sessions organised by the Ministry of Economy, EBRD, and partner banks
• Join webinars or business community groups focused on EU-funded opportunities
• Subscribe to receive opportunities from EU NEIGHBOURS East

You can also check the EU4Business Projects page to find out which programmes are active in Armenia.