14 New Business Plans...
Presentation of business plans of the SME Development National center’s “Successful Start” start-up business support program participants took place in city of Vanadzor, Loriregion on 31st of October 2017. Program ...
14 New Business Plans Were Presented by Start-ups in Vanadzor with the Support of EU-funded Project

Presentation of business plans of the SME Development National center’s “Successful Start” start-up business support program participants took place in city of Vanadzor, Loriregion on 31st of October 2017.

Program participants have improved their entrepreneurial skills and knowledge on marketing, management, production and financial planning and obtained relevant business skills. All eight participants have elaborated and presented their own business plans.

14 out of 18 participants presented business plans, which included the following business ideas: wooden souvenir, dried fruit, 3D chocolate, cookies, chicken egg, bread, production, guest house, anti-cafe, fast food court and coffee machine, tourism development, and catering.
 

The program is implemented in the framework of the EU-funded “Boosting Competitiveness of Regional SMEs” project. The trainings were delivered by the highly qualified trainers of the “Davoyan” LLC.

The main criterion for participation is a realistic and clear business idea, which should be innovative and have the potential for growth and new job creation. The target sectors of the program are food processing and tourism.
The program implies a comprehensive approach, which is the combination of financial and non-financial instruments. In the first phase of the “Successful Start”, the start-ups are participating in the entrepreneurship training and under the guidance of the consultants are developing their own business plans.

The most viable business ideas will have an opportunity to apply for financial support. The preferential loan conditions are: 5 million AMD, 10% annual interest rate, up to 5 years. The SME DNC of Armenia provides 100 % loan guarantee. The start-ups can apply also for grants up to 2 million AMD in case of creation of new sustainable jobs.

A follow up guidance and coaching are provided to start-ups along the way of their business development and growth.