We at the BSC Business Support Center believe that the development of the Armenian economy is assured with the enhancement of entrepreneurship, particularly of small and medium businesses. BSC seeks to support start-up businesses by sharing 22 years of experience providing guidance to clients, including young entrepreneurs who have received targeted consulting to help build their businesses.
In the framework of the joint project Start-up Business Support by the SME Development National Center of Armenia (SME DNC), the United Nations High Commissioner for Refugees (UNHCR), the United Nations Industrial Development Organization (UNIDO) and the US Agency for International Development (USAID), BSC conducts a one-month training for the project beneficiaries. The participants have the opportunity to take part in trainings on business planning and management, entrepreneurship, marketing, state registry procedures, taxation, accounting and other topics. As a result, they become acquainted with the peculiarities of the Armenian business environment and acquire skills necessary to start a business. With the support of BSC consultants the participants develop their business plans, which are later presented to representatives of SME DNC and partner organizations. Consultants conduct individual consulting sessions with each participant, deeply studying the business and the particular sector of industry. The most viable business plans are selected and financed with low-interest loans. BSC is also responsible for consulting and mentoring participants in the process of establishing businesses.
As of July 2015, 133 participants have received certificates of participation in the Start-up Business Support project trainings, and 51 of them have been selected for financing. In the course of six months the latter have received consulting and support on business management and development by BSC specialists.