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SME sector drives inclusive local economic growth, regional development, employment growth, and poverty reduction in districts․Sevan region, where most of the enterprises are SMEs operating in service, tourism, trade, food, and light industry spheres, is not an exception.
There is growing evidence that Small and medium-sized enterprises (SMEs) play an important role in the economic development of Armenia in general and local economies in particular. SME sector drives inclusive local economic growth, regional development, employment growth, and poverty reduction in districts․Sevan region, where most of the enterprises are SMEs operating in service, tourism, trade, food, and light industry spheres, is not an exception.
The development of SME sector has always been a focal point for both Sevan municipality and supporting organisations operating in the region. The results of different local SMEs’ development and needs assessments have shown sustained, but slow rate of business development. One of the main reasons for this slowdown is the lack of effective relationships, joint actions and cooperation between local businesses.
The project aims to strengthen the partnerships and cooperation of local enterprises creating a beneficial environment for sharing experience and information.
Actions in Brief
The project will establish a business center in Sevan, which will work to enhance local business cooperation, encourage experience exchange, and unite entrepreneurs under “one roof.” The structure of the center and the list of services will be determined through the participatory assessment of the SME needs during the first quarter of the project to ensure effectiveness. It is planned to have 15 co-working spaces for entrepreneurs (working desks, computers, printers, and other auxiliary equipment). The center will also have meeting rooms, training spaces, and conference halls with modern equipment. The center will bring together the SME community and organize thematic events that subsequently will lead to expenditure reduction, foster business contacts and experience exchange.
The highly qualified specialists of the Center will provide advanced, multi-faceted consulting support to more than 100 start-ups and existing businesses and around 200 job seekers both during and after the project.
Duration: 02/02/2018 – 02/02/2020 (24 months)
Total Project Budget: EUR 538,577
EU Contribution: EUR 480,000
Location: Sevan | Republic of Armenia
Implementing partners: Sevan municipality; Gegharkunik Chamber of Commerce and Industry.