13 / February / 2023 : 12-42
Challenges facing small and medium-sized businesses in Armenia
Small and medium-sized businesses in Armenia face a range of challenges, including limited access to financing, high taxes, corruption, and bureaucratic obstacles. The country's small market size, geographical isolation, and dependence on a few key sectors also present challenges for entrepreneurs.
Furthermore, the COVID-19 pandemic has exacerbated these challenges, with businesses facing reduced demand, disrupted supply chains, and increased costs associated with health and safety measures.
Despite these challenges, small and medium-sized businesses in Armenia have demonstrated resilience and innovation, leveraging digital technologies and developing new business models. The Armenian government and non-governmental organizations provide support for small businesses through policies and initiatives, financial support, and training and mentorship programs.
Overcoming these challenges requires a collaborative effort between government, businesses, and civil society, to create an environment that supports entrepreneurship, innovation, and sustainable economic growth.
Published on 13 / February / 2023 : 12-42
Published by
Liana Aloyan
Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.
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