The road of the small business

Hovhannes Hakobyan

Nune Ireyan started the business of making jewelry from flowers by accident. 7 years ago she bought an earring, for which she had paid quite high, but then she realized that she could make it herself.

At first it was just a hobby, because journalist Nune had a permanent job and was more relaxed doing this one. After some period of time she realized that this could be the main way to earn money.


Nune has changed several professions, working as a journalist, video editor, social media marketing specialist. However, the main goal is to be engaged in own production and to develop it.


Unfortunately, the official statistics do not provide complete data on the SME sector.This gap is somewhat filled by the analysis of the Business Support Office funded by the European Bank for Reconstruction and Development. This organization published "The role of SMEs in the Armenian economy. 2020 ", the report, according to which 82209 SMEs operated in Armenia in 2020, of which 76615 (or 72% of active taxpayers) are very small companies, 4570 (or 4% of active taxpayers) are small companies, 1024 (or 1% of active taxpayers) - medium enterprises.


Nune Ireyan mentions that promoting a small business in Armenia is a difficult task, there is little support from the state, and you have to invest all your time and money to be able to succeed, besides, you need to produce quality and really different products. 


The Global Entrepreneurship Monitor (GEM) examines the level of entrepreneurship and features in different countries. In 2019 Armenia also participated in the survey for the first time among 50 countries. According to the Report, in 2019 a high level of entrepreneurship has been registered in Armenia. One in five adults is involved in a start-up business. Moreover, 28% of the population of Armenia is engaged in any business (both beginners and established), with this index Armenia is 6th out of 50. The study of the sectoral structure of entrepreneurship in Armenia although shows that according to the productivity of entrepreneurship, Armenia is in the last position. Unlike 2019 In the majority of countries surveyed, entrepreneurship in Armenia is concentrated in two main sectors - agriculture and trade․


Levon Chadryan has been producing bags for many years․ He says he has a main profession, but does not get enough income․ According to The Global Entrepreneurship Monitor the most common motivation for starting a business among Armenian entrepreneurs (both start-ups and established ones) is "earning a living because there is no work", that is, people start a business out of need, not out of a clear goal. With a clear goal of "changing something in the world", Armenia is in the lowest places compared to other countries.