Building Partnerships in Armenia
Many repats come to Armenia with the purpose of starting a business, and it's no surprise as to why. Armenia offers business owners many advantages to encourage entrepreneurs to open up shop in Armenia. Whether you want to open up a cafe in the city center of Yerevan, a bed and breakfast in the mountains of Lori, or even launch your own tech startup, we have put together a guide so you can know the ins and outs of starting a business in Armenia.
Understanding the Importance of Networking in Armenia
Among the most important aspects of doing business in Armenia is networking. For better or worse, Armenia remains a small environment of highly skilled professionals that are among the best in the world at what they do. Leaving the right impression is everything and gives you a chance to build trust, expand your community, knowledge share, and have access to new opportunities.
Thankfully, organizations like Repat Armenia are routinely putting on networking events, seminars, and conferences dozens of times a year. With Armenia gaining notoriety on the world stage as an up and coming hub for flourishing businesses, making and maintaining good connections is a great way to get a leg up on the competition. Some of these networking communities go beyond the borders of Armenia.
Key Industries for Business Partnerships in Armenia
Tech
There are a number of industries that are showing a demand for business partnerships. Chief among which is the tech industry. There is a constant need for every kind of professional growth in the IT sector, accounting for a significant portion of the GDP, and is the fastest growing industry in the country.
Tourism and Hospitality
Perhaps one of the more interesting and easily accessible industries to find your niche in is the Tourism and Hospitality business in Armenia. With more and more people finally finding Armenia on the map and adding it to their list of places to visit, there is a growing demand for bed and breakfasts, hotels, accommodations as well as tours, outdoor activities, and even events.
Perhaps one of the more interesting and easily accessible industries to find your niche in is the Tourism and Hospitality business in Armenia. With more and more people finally finding Armenia on the map and adding it to their list of places to visit, there is a growing demand for bed and breakfasts, hotels, accommodations as well as tours, outdoor activities, and even events.
If your superpower is event planning, rest assured there are many concerts, festivals, and outdoor activities that could use your expertise, what we call “the repat’s touch.” Perhaps you like to lead people on excursions through the countryside of Armenia, or maybe you prefer to buy some property and open up a spot for people to spend the night. In any case, there is a market for your business.
How to Identify the Right Partners for Your Business
The professional landscape in Armenia operates with a heavy emphasis on relationships. That being said, there are certain circles that will be more beneficial than others, luckily, these circles are easy to find.
The networking events put on by leading business in Armenia are often hubs where you can connect with a majority of the people you will be collaborating with and competing against.
For example, if you want to start your own media outlet in Armenia, you can go to the EVN Media Festival in May and speak with a prominent member of every major media and news source in Armenia. Even if you are planning on integrating your business to be a “competitor” to what already exists, don’t worry, business culture in Armenia encourages healthy competition and often knowledge sharing because there is an underlying idea of bringing up your colleagues so they push you to be better.
Top Networking Events and Platforms in Armenia
There are dozens of networking events in hosted in Armenia throughout the year, here are simply a few of them.
AGBU routinely holds events in Armenia and around the world often introducing heavyweight entrepreneurs and professionals to one another, inspiring many to join their ranks.
Repat Armenia routinely hosts networking events known as “Engage Armenia” and hosts these conferences globally. Repat Armenia has gone to 8 different cities in Europe and the Middle East. Holding events in the United Kingdom, Netherlands, France, Belgium, and Switzerland and one forum took place in Dubai in November; with 20 Imagine Armenia forums in key diasporan communities between 2013-2019 with over 100 speakers and 3,000+ participants.
The Armenian Businessmen Association publishes a list of events and conferences that repats, entrepreneurs and investors can participate in. You can find the conference that will suit your niche and even register on their website.
Mantashyants is known to be the largest Armenian business network in the world. You can get a handle on global business opportunities with job boards, news, and events being hosted around the world.
Impact Hub Yerevan routinely hosts events and calls guest speakers to come and speak, offering advice and insight on any sort of professional growth. Founded by repats, Impact Hub Yerevan even has youth programs for your children to start growing their professional futures in Armenia.
Doing business in Armenia is a fun and interesting albeit challenging process, but the help you get along the way offsets the natural difficulties that comes with starting your business. We look forward to seeing your enterprise flourish and we stand ready at Repat Armenia to help in any way possible.
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