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Armenian-owned small business grows with help from the EU-funded Business Advisory Services

By EBRD  Press Office

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A €5 million contribution from the European Union is helping the EBRD’s Business Advisory Services (BAS) to deliver business advice and consultancy services to micro, small and medium-sized enterprises (MSMEs) in Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine. Such businesses are the main drivers of economic growth and job creation. The EBRD’s BAS, launched in 1995, assists individual enterprises to engage with local consultants on specific projects with a rapid payback. Additionally, BAS carries out market development activities to develop the capacity of MSMEs and local business advisory providers.

In Armenia, the BAS Programme brings best business standards and improves MSME management skills such as planning, production, quality control and marketing, thereby making them more competitive and able to attract external financing.

One of the beneficiaries is SUNFOOD LLC, an importer and wholesaler of ready-made and semi-cooked food products, hygiene and household products, located in Kotayk province. BAS Armenia has assisted the company to implement an automated corporate management information system (CIS), and to develop a website.  The CIS is customised to Armenian legislative requirements and helps the company to find solutions management, financial and tax accounting, production and warehouse operations.

SUNFOOD LLC also produces napkins and liquid soaps from imported ingredients.

The company is opening a supermarket in Yerevan’s “Charbakh” area, where scan-coded cash counter sales are interconnected with the corporate information system. A BAS consultant installed the system in the company’s office. System users were trained, data entry was facilitated and consultancy was provided in such areas as trouble shooting. The consultant also developed a web site for the company. The project was supported by BAS and the company co-shared the project cost. The project has contributed to SUNFOOD LLC becoming more efficient in managing generated income and expenditures, effectively controlling accounting and operational issues and facilitating reporting processes across its operations.

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