Closing of the First Stage of Entrepreneurship Program for Displaced Persons from Nagorno-Karabakh

On July 14, the Republican Union of Employers of Armenia held the closing event of the first group within the Entrepreneurship Education Development Program for Displaced Persons from Nagorno-Karabakh.

The program aimed to enhance the business skills of the people forcibly displaced from Nagorno-Karabakh and to provide them with consulting support for taking practical steps toward starting their own businesses.

As a result of the intensive training sessions, which started on June 18, participants had the opportunity to acquire essential theoretical and practical knowledge necessary for starting, managing, and ensuring the sustainable development of a business. They became familiar with the fundamentals of entrepreneurship, principles of financial planning, market analysis methods, and the main requirements of Armenia’s legal and tax framework for business operations. They also learned how to develop business plans, calculate cost price, design pricing strategies, use financial management tools, understand budgeting structures, and apply informational and analytical sources. In addition, participants gained insight into potential sources of financing, including grants and investment opportunities.

The trainings were delivered in an interactive approach, combining theoretical knowledge with hands-on assignments and applied case studies.

The courses were conducted by experienced specialists: Mr. Mihran Tadevosyan, RUEA Board Member, economist and finance specialist; and Soghomon Mirzoyan, RUEA Board member, President of the Association of Financiers of Armenia, financial expert, PhD in Economics.

At the program’s closing ceremony, Lilit Adamyan, Executive Director of the Republican Union of Employers of Armenia, welcomed the participants. She emphasized that the purpose of this initiative was not only to provide fundamental knowledge in entrepreneurship but also to expand self-employment opportunities and foster the development of new business initiatives among forcibly displaced people from Nagorno-Karabakh. Lilit Adamyan also noted that the Union is committed to supporting participants in the practical implementation of their business plans and will consistently continue to contribute to the social and economic integration of displaced persons by supporting new enterprise establishment, entrepreneurial skill development, and economic inclusion.

Mihran Tadevosyan highlighted the strong engagement and active participation of the beneficiaries, stressing that through the program they not only acquired valuable practical skills but also took their first steps towards launching their own businesses. Participants were able to present their business ideas and received individual consultations from the trainers. As a result, several business projects were developed, some of which demonstrate strong potential to evolve into viable and sustainable enterprises.

Mr. Vladimir Ćurović, Senior Employers’ Specialist of the ILO Decent Work Technical Support Team, also joined the event online to greet the participants and hear their feedback. He underlined the importance of the program’s main concept — creating opportunities for decent living conditions, strengthening social solidarity, and fostering the economic reintegration of the population displaced from Nagorno-Karabakh.

The participants expressed their gratitude to the organizers, stressing that the program was not only an opportunity to gain new knowledge but also a new starting point for bringing their ideas to life and building sustainable businesses.

The program will continue with new training phases soon to be launched, expanding to include beneficiaries from the regions, aiming to broaden the geographical reach of the program and provide access to entrepreneurship education to a wider group of people.

It should be noted that the program is being implemented with the support of the International Labour Organization (ILO) within the framework of the initiative to promote formalization in Armenia.