We're working to break the cycle of unemployment and poverty in rural Armenian communities that have been devastated in the global economic crisis by supporting entrepreneurs and new business creation.
What is the issue, problem, or challenge?
In the rural areas targeted by this project, over one-third of Armenians live below the poverty line and 1 in 4 is without a job. Outdated technology and infrastructure, and a workforce that lacks necessary education and skills, prevent economic growth. People have no access to job training or business financing. Without these tools, the rural poorâ€”particularly womenâ€”remain unable to re-build their economy and break this cycle of poverty.
How will this project solve this problem?
This project creates jobs and income, bringing hope and lasting change to rural Armenia. We help people gain the skills and credit needed to realize their tremendous potential in industries where they offer a competitive advantage. Entrepreneurs receive management training, guidance as they develop business plans, and financing to launch their businesses. A project website provides resources for anyone with computer access. We provide training for employees and ongoing mentoring to owners.
Potential Long Term Impact
We will help launch over 100 new businesses in rural Armenia and provide job training for over 100 people. This will create over 150 new jobs â€“ 30% of them for women. In the process, the rural economy grows and communities are revitalized. Our project has a holistic approach: we are training the workforce in necessary skills, investing financial capital, and building new infrastructure. These actions are creating a sustainable rural economy and improving lives for generations of Armenians.
Total Funding Received to Date: $2,843
Remaining Goal to be Funded: $12,157
Total Funding Goal: $15,000