The tools of success: new souvenir production business established with EU support

Artak Petrosyan in his workshop

Artak Petrosyan is a skilled craftsman who carves wood, particularly furniture in the city of Vagharshapat, in Armenia’s Armavir region. In August 2017, he started his own business after start-up training from an EU-funded project.

Petrosyan took part in the ‘Successful Start’ start-up business support programme organised by the ‘Boosting Competitiveness of regional SMEs’ project, co-funded by the European Union under its EU4Business initiative, and implemented by the Small and Medium Entrepreneurship Development National Centre of Armenia (SME DNC) and its partner organisations.

Thanks to the financial and consulting support provided by the project, Petrosyan was able to buy specialised wood carving equipment and tools that made it possible for him to start producing souvenirs.

The entrepreneur now produces wooden cups, dishes, boxes and other types of souvenirs with traditional decorative elements, made of high-quality walnut and pear wood, hand crafted with unique and unusual designs.

Artak Petrosyan sells his production in Vernissage, a special handicraft market in Yerevan, in the small souvenir shops in Vagharshapat, through restaurants and also for individual orders.


Boosting Competitiveness of Regional SMEs is a project funded by the EU under its EU4Business initiative. The project works to boost the competitiveness of regional SMEs and to create employment opportunities in the Armenian regions of Lori, Syunik and Armavir, focusing on the sectors of food-processing and tourism. It promotes the development of entrepreneurship by creating favourable conditions for start-ups and strengthening the capacity of local SMEs, while also providing relevant skills to job seekers, and developing local capacity to encourage the further promotion of economic development initiatives.