Armenian winery finds new markets and increases sales with EU4Business support

EU NEIGHBOURS. An old Armenian winery found new markets and increased its clientele thanks to an EU-funded programme. The success story was shared on the EU4Business website.

When the company Voskevaz decided to expand to new markets, they applied for the EU programme Advice for Small Businesses, which is implemented by the European Bank for Reconstruction and Development.

The wine company received help from a consultancy on strategic planning, product expansion, product and investment plan development, expansion to foreign markets, and financial modelling. With EU4Business support, Voskevaz sales increased by 21%, annual turnover grew 22%, and exports jumped 18%.

Learn more about how to apply for similar funding on the EU4Business website.