The Armenia Support Fund exists to take on programs and projects of a strategic nature that support economic development and promote unity in Armenia and amongst the diaspora community.
Our efforts are always in response to a specific, identified need or situation. Thoughtful planning and pan-Armenian partnerships with organizations that share a similar mission are the backbone of our success.
The Armenia Support Fund is committed to responding to the most critical needs of Armenians in Armenia. Projects are both time sensitive and ongoing depending on the type of need that is being met. Currently, we are focused on ensuring a speedy economic recovery for Armenia by establishing long term revenue opportunities for businesses. Our e-commerce project, Shop Shouga, enables consumers around the globe to help rebuild Armenia by buying Armenian.
Since our founding in March 2020, the Armenia Support Fund has raised $50,000 to provide financial grants to Armenia-based small businesses. This project was directly in line with our mission to promote economic development in Armenia. With these funds, the Armenia Support Fund and it's donors provided support to 50+ small, family-owned business and was a life-line for business owners struggling as a result of COVID-19 and the Azeri conflict.
Shop Shouga, an Armenian Online Marketplace
As part of ASF’s efforts to help rebuild Armenia after the devastation caused by the Azeri conflict, ASF has once again partnered with Paros Foundation (501c) to build the first ever exclusively Armenian online marketplace platform. This e-commerce website launched on December 21, 2020 and is called, Shop Shouga ("shouga" meaning "marketplace" in Armenian). Shop Shouga helps businesses in Armenia sell overseas to diaspora communities and non-Armenians. Our team has handpicked and curated the product collection to ensure quality and value.
COVID-19 and the war have had a devastating effect on Armenia's economy and families that own small businesses. The pandemic ruined Armenia's flourishing tourism industry and the war has displaced many small-business owners. Now, more than ever, it is crucial that we encourage people to buy Armenian products. The Armenia Support Fund is committed to helping enable Armenia based small businesses to sell online internationally.
Short Term Impact
In the short term, this project will help Armenia based small businesses get back on their feet and keep their businesses running. The affects of this project will be felt immediately as it helps promote economic stimulus in Armenia.
Long Term Impact
In the long term, helping these family-owned small businesses will not only help Armenia's economy recover, but will help ensure these families remain committed to their businesses rather than abandoning them for economic reasons.
Armenia COVID-19 Small Business Support Initiative
In response to COVID-19, the Armenia Support Fund has partnered with The Paros Foundation (501(c)) to launch the Armenia COVID-19 Small Business Support Initiative. The purpose of this project is to raise funds to support the business-related needs of family-owned small businesses negatively impacted by COVID-19 in Armenia.
Since 2006, The Paros Foundation (501c) and it's donors have partnered to implement humanitarian, educational, cultural and development projects. In their almost 15 years of service, Paros has completed over 200 successful projects in Armenia and has raised over $7 million.
Are you a small business in Armenia looking to apply for an Armenia Support Fund Small Business Support Grant?
Thank you to our donors!
David & Margaret Magrublian
Globanet Consulting Services
Hovhannes Pashyan - Vav Plastics Inc
Chris & Richard Garsevanian
Tania Sarin Araradian
Small Business Grants Up To $2,500 USD
Funds will be distributed in the form of small business grants up to $2,500 USD (1.2M AMD). The Paros Foundation will manage the distribution of funds in Armenia to ensure funds are utilized as intended. Paros has relationships with trusted local vendors. In most cases, Paros will pay these vendors directly and ensure that fair rates are being received.
Family-Owned Business Support
We are committed to ensuring that grants are awarded to those who need it most. Most often, family-owned small businesses are hit the hardest, but are not always given easy access to financial relief. These are the businesses that need our support!
Focus on High Community Impact
Our goal is to ensure grants are awarded to businesses with the highest community impact. Businesses that are employing local workers and purchasing their goods from within Armenia will be prioritized as part of this effort. This will in turn ensure our donors' dollars have the greatest impact on the Armenian community in both Yerevan and Armenian villages.
100% Tax Deductible
Donations made through our partner organization,
The Paros Foundation, a 501(c) 3 organization, are tax-deductible to the fullest extent allowed by law. The foundation underwrites 100% of administrative costs, thus allowing all donor contributions to be allocated directly to the projects.
Yerevan & Villages
How to apply
To apply for a grant, small and medium sized businesses will need to meet the following criteria:
Must be properly register
Must be family-owned
Must employ less than 20 people
Must have had 2019 annual sales of under $200,000 USD (96.5M AMD)
Must have a specific business need that can be clearly articulated
Business-owners will apply for this grant via our website and will be required to provide proof of a legitimate business-specific need for funds. Each business under consideration will be required to attend a live interview with ASF and Paros before being chosen for a grant award.