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.