Empowering Displaced People from Nagorno-Karabakh through Online Financial Literacy Courses

The second group of trainings within the Entrepreneurship Education Development Program for forcibly displaced people from Nagorno-Karabakh, implemented at the initiative of the Republican Union of Employers of Armenia, is currently underway.

At this stage, the trainings are delivered online, aiming to expand the program’s geographical reach and provide beneficiaries across Armenia with the opportunity to develop entrepreneurial skills.

From July 22 to 26, the sessions were led by Soghomon Mirzoyan, President of the “Association of Financiers of Armenia” NGO and an expert in the financial sector. The training topics focused on the fundamental principles of financial management in business, in particular: the structure and importance of financial planning, methods of calculating cost price, pricing strategies, and tools for determining the breakeven point of a business.

By completing practical exercises, participants were able to put their newly acquired knowledge into practice and discover how financial calculation tools can help minimize risks and support sustainable business growth.

The training was enriched with interactive discussions during which participants presented their business ideas and received personalized advice and valuable practical recommendations from Soghomon Mirzoyan.

In the upcoming sessions, participants will study business budget planning, market analysis, financing mechanisms—including grant programs and investment opportunities—as well as the fundamentals of the tax and legal framework related to entrepreneurial activities in Armenia.

It should be noted that the program is implemented with the support of the International Labour Organization (ILO) within the framework of the initiative “Building the Capacity of Constituents to Pre-empt the Informalisation of Work and Promote the Transition to Formality in the Context of a Refugee Crisis.”