On June 27, presentation of the “Global Entrepreneurship Monitor: Armenia National Report 2024/2025” was held in Yerevan. It’s one of the most prestigious and comprehensive research platforms in the field of entrepreneurship, which has been collecting and presenting 500+ indicators every year since 1999, recapitulating comprehensive data and analysis from 100+ countries around the world. Thus, the report elaborates on the trends in entrepreneurship development, the current challenges, as well as the potential of entrepreneurial ecosystems, at the local and global levels.

Armenia joins this prestigious initiative for the second time. The first time was in 2019, when 49 other countries joined the report. In 2024, 51 countries were involved in preparation of the Global Entrepreneurship Monitor Report, including a number of developing countries such as Kazakhstan, Ukraine, Belarus, Egypt, Jordan, and countries with developed economies - the USA, Canada, Germany, the United Kingdom, Austria, Norway, etc.

This year, just like in 2019, the Global Entrepreneurship Monitor: Armenia National Report 2024/2025 was prepared by Ameria Management Advisory Services, the Armenian partner of the Global Entrepreneurship Monitor.

Armenia’s involvement in the Global Entrepreneurship Monitor 2024 research allows for significant comparison both with the findings of the Armenia National Report 2019 and with different countries, including the Eastern Europe+ group of countries, where Armenia belongs by virtue of its regional affiliation.

The Global Entrepreneurship Monitor 2024 research embraces more than 161,000 adult respondents from 51 member countries and the opinions of more than 2,400 industry experts from 56 countries.

Data collection in Armenia comprised individual interviews with 2,000 adults (aged 18-64) and 37 industry experts. Individual interviews were held in April-June, 2024.

The Armenia National Report is composed of 8 chapters that present the overall entrepreneurship level in the country and distribution across different population groups and economic sectors. The report addresses the attitude towards entrepreneurship and entrepreneurs, the motivation to start a business, the impact of business on the economy, informal investments, business exit processes, the use of artificial intelligence and digital tools in business, as well as the general entrepreneurial environment in Armenia.

A number of engrossing findings stated in the national report are particularly important to consider when developing future strategies and policies. Thus, for example:

· In 2024, Armenia maintains a high level of entrepreneurship, perceiving entrepreneurship as a desirable career (ranking the 1st in the Eastern Europe+ group and 5th among 51 member in 2024 Global Entrepreneurship Monitor),.

· The respect for entrepreneurs among the public and the positive feedback in the media remains at a high level.

· The need remains the main motivation for entrepreneurship but the desire to build wealth as the main motivation for entrepreneurship has increased significantly, especially among young people and urban residents.

· In Armenia, 44% of all early-stage entrepreneurship and 53% of established businesses are sole proprietorships.

· Women’s entrepreneurship, unlike men’s, is relatively underdeveloped.

· Among the entrepreneurial environment indicators, entrepreneurship education was rated the lowest by the experts.

· The use of digital technologies and artificial intelligence is still at a low level, especially among established businesses.

The message of the Deputy Prime Minister of the Republic of Armenia Mher Grigoryan regarding the report reads: “Release of this report is well-timed - it gives an impartial and comprehensive assessment of the standing of entrepreneurship in Armenia and presents our progress within the global context”.

In his speech, Tigran Jrbashyan, partner of Ameria CJSC, Director of Ameria Management Advisory Services, mentioned: “The report findings clearly evidence that entrepreneurship in Armenia needs a broader policy vision – one that goes beyond financial support and focuses on education, digital inclusion, and structural incentives promoting business scalability, innovation, and lasting survival”.