The Stepanakert office of the AUA-Turpanjian Rural Development Program (AUA-TRDP) recently held its 26th business training where seventeen participants learnt the basics of business management, marketing, and tax so they could write their business plans and then open their businesses.
The applicants presented different business ideas, including greenhouse, honey production, chicken farm, drug store, café, retail store, etc….
Upon approval of their business plans by the program jury and executive committee, beneficiaries will receive business loans with six percent (6%) annual interest rate from the program’s partner bank and will establish their businesses. The staff of the program will continuously support the beneficiaries with consultations and mentoring activities.
Smbat Baghdasaryan, AUA-TRDP beneficiary, rabbit breeding, Martakert town, Artsakh.
“I think this program is indispensable for those who have a business idea and want to start their own business, but do not have sufficient financial resources.
AUA-TRDP has distinct benefits. First, it offers free education, after which it provides low-interest loans and ongoing support and advice. ”
“I have gained a wealth of knowledge by attending AUA-TRDP educational courses. Before the classes, I did not realize that you need to calculate everything when doing business. Thanks to this training I can now make accurate calculations and manage my business more effectively. I think, the idea of accountability – the acknowledgment and assumption of responsibility for your actions – emphasized by AUA-TRDP, will help me a lot in my business since if you can do proper time management and be responsible, you will succeed. ”
Gegham Stepanyan, AUA-TRDP beneficiary, mulberry syrup production, Shoushi town, Artsakh.
“I think AUA-TRDP plays a very important role in Artsakh business development. Since today the provision of loans in Artsakh is limited, only AUA-TRDP offers loans with an interest rate as low as 6 percent, and reasonable payback period. The educational component is a precondition for the program’s success since business management knowledge and skills gained during the training reduce the risk of a failure”.
AUA-TRDP is open to anyone residing in rural areas of Shirak, Tavoush and Vayots Dzor regions of Armenia, Artsakh or Javakhk who wants to open his/her business.
The program guarantees microloans with 6 percent interest rate and a three year payback period. Loans are provided for any business idea except for stock-raising and husbandry.