RUEA Successfully Completed The Second Round of Training Sessions for Displaced People from Nagorno-Karabakh
.jpg?token=80b730adb590be12fd3902f4f799a0f7 "RUEA Successfully Completed The Second Round of Training Sessions for Displaced People from Nagorno-Karabakh")
On August 9, the Republican Union of Employers of Armenia (RUEA) successfully completed the second round of training sessions under its Entrepreneurship Education Development Program for forcibly displaced people from Nagorno-Karabakh.
The program is designed to strengthen business skills and support participants in starting their own enterprises by combining theoretical knowledge with practical tools for building competitive, sustainable, and profitable businesses.
The second stage was delivered online to broaden access and ensure participation of beneficiaries living in Armenia’s regions. From July 15 to August 9, participants attended 12 thematic sessions covering the full business planning cycle—from structuring and drafting business plans to financial forecasting and budgeting. They also studied the legal framework for business registration, legislative requirements, and procedures, as well as the strengths and challenges of small and medium-sized enterprises in different economic environments.
In addition, the training provided participants with practical knowledge on financial planning principles, profitability analysis, cost calculation methods, break-even point determination, and pricing strategies. Sessions also addressed financing opportunities, capital sources, and effective models of cooperation with financial institutions.
The courses were led by experienced experts: Mihran Tadevosyan, economist and financial expert, RUEA Board Member, and Soghomon Mirzoyan, PhD in Economics, financial expert, “President of the Association of Financiers of Armenia” NGO, and RUEA Board Member.
Participants expressed their appreciation to the organizers, highlighting that the program served as both a valuable source of knowledge and skills and a springboard for transforming their ideas into successful, long-term enterprises.
By the end of the program, 13 out of 24 participants successfully developed and transformed their ideas into concrete business plans, clearly demonstrating the course’s real-world impact and practical value.
The program is ongoing, and building on its success, the program has already entered its third phase in a hybrid format. The initiative is implemented with the support of the International Labour Organization (ILO) as part of the national program promoting formalization in Armenia.
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