General Info
SME Development National Center of Armenia - mandate
“Small and Medium Entrepreneurship Development National Center” Fund (SME Development National Center of Armenia) was established by Government of Armenia in 2002. SME Development National Center is authorized to provide state support to small and medium entrepreneurship (SME) in the country. The support is provided through implementation of annual SME State Support Programs with resources allocated from State budget.
SME Development National Center of Armenia is governed by Board of Trustees headed by the Minister of Economy.
SME Development National Center of Armenia carries out its activities through the well developed network of regional branches and representative offices covering all marzes of Armenia coordinated by the central office in Yerevan.
Since 2002 thousands of SMEs benefited from various support programs designed for start-up and operating companies.
SME Development National Center of Armenia’s activities are targeted at:
• Ensuring a dialogue between SMEs and state
• Increasing efficiency and competitiveness of SMEs
• Ensuring availability of business development services for SMEs
• Expanding the financial opportunities for SMEs
• Promoting innovations and R&D activities of SMEs
• Assistance for establishment of new SMEs
• Supporting internationalization of SMEs’ activities
Technical and Financial Assistance Programs
| Technical assistance | Financial assistance |
| • Provision of information on all the aspects of doing business in Armenia • Provision of business consulting and training • Sales promotion • Supporting Start-ups • Supporting R&D activities |
• Provision of Loan guarantees • Equity financing • Seed capital • Partial subsidizing of credit interest rates |
SME Development National Center of Armenia provides its services mainly through specialized private companies selected by tender procedures. Services provided to SMEs are co-financed by SME Development National Center.
Enterprise Europe Network hosted by SME Development National Center of Armenia
Starting from 2008 SME Development National Center is hosting Enterprise Europe Network Correspondence Center in Armenia.
The Network offers support and advice to businesses across Europe. The Enterprise Europe Network is made up of close to 600 partner organisations in more than 40 countries, promoting competitiveness and innovation at the local level in Europe and beyond.
Based on “no wrong door” concept Enterprise Europe network serves as a “one-stop shop” for SMEs providing free of charge information and practical advice on market opportunities, European legislation and policies relevant to a company or sector. Enterprise Europe Network helps SMEs to find suitable business partners using its business and technology cooperation database, provides information on tender opportunities and international networking.
International Cooperation
SME Development National Center of Armenia actively cooperates with number of international and foreign organizations developing and implementing joint support programs. Joint programs are implemented with UNDP, UK DFID, JICA, and OSCE.
Financial Resources
More than 1.6 billion AMD has been allocated from state budget for the implementation of 2002-2008 state support programs and about 20 thousands start up and operating SMEs have received support. Budget allocations are increasing year by year. (in 2002 they have made 20 mln, in 2003 - 250 mln, in 2004 - 234 mln, in 2005 - 300 mln, in 2006 – 350mln, and in 2007- 400 mln AMD).
