Simplifying Success: Armenia

This article describes the success of The Micro Enterprise Development Program (MEDI) in streamlining the process of business registration in Armenia. The article presents the following details of the program:

• Goal: to improve the enabling environment for small businesses in the region;
• Aims: to work with local and international partners to ensure:
  • Reliable access to financial services;
  • The strength of the business sector;
  • Improved lending;
  • Building an information network to establish greater transparency and curb corruption;
• Method: to engage in close collaboration with its stakeholders to develop a strong micro- and small enterprises (MSE) sector that will help create jobs for poor and very poor women throughout Armenia.

The article illustrates the success of the program through the story of Sylvia Elaryan, the owner of a micro-enterprise. It details:

• The inadequacy of information in Armenia;
• The corruption that Armenian citizens face;
• Sylvia's initial fear in registering her consulting business;
• Her access to knowledge on business registration procedures through a study of "The Entrepreneur's Roadmap" developed by MEDI.

The article presents:

• Details about the "Roadmap" and its use;
• Its efficacy in fighting corruption and impacting the development of the MSE sector in Armenia.

The article concludes by providing details of the Microfinance Investors' conference in Armenia, which aims to:

• Increase capital flow to the Armenian and Georgian MSE sector;
• Disseminate information about leading Armenian and Georgian MFIs.