Jrbashyan: Family business and generational change are becoming an important trend in Armenia

YEREVAN, April. /ARKA/. Growing motivation for family businesses was recorded in Armenia from 2019 to 2025, and this process is becoming a key trend for the entrepreneurial environment, said Tigran Jrbashyan, Director of Management Consulting at Ameria and Head of the National Team at the Global Entrepreneurship Report.

In an interview with CivilNet, he noted that the country is entering a generational change phase, when company founders begin to gradually hand over the reins of their businesses to a younger generation of managers.

Generational Change as a New Stage

According to Jrbashyan, the growing role of family businesses is linked precisely to the transition to a new generation of owners and managers.

"This is a very important trend that we must all begin to understand, as we are entering a generational change phase. This will become an obvious and natural phenomenon, as the generation that created this business gradually matures and attempts to pass on its business,” he noted.

At the same time, he estimates that government agencies have not yet fully grasped the scale and impact of these changes.

“Generational change brings with it both opportunities and challenges,” said Jrbashyan.

New Competition in the Market

At the same time, the expert believes that the established businesses in Armenia are facing a new type of competition in the form of younger, more aggressive businesses entering the market.

According to him, as the transition from “childish” businesses to a more mature entrepreneurial model continues, the problems and challenges faced by established companies intensify.

“As we transition from “childish” businesses to more mature businesses, problems and challenges arise that are faced by established businesses. As a result of the failed institutional system, the main drivers of these businesses were not in market relations. The key here was what kind of protection you had, how much you could pay or conceal your taxes," Jrbashyan noted.

Transition to Market Entrepreneurship

As Jrbashyan emphasized, the factors for business success in Armenia have changed significantly in the last 5-10 years. According to him, branding, costing, innovation, and marketing campaigns are playing an increasingly important role.

"Over the last 5-10 years, the right brand, the right costing, innovation, and marketing campaigns have played a key role in business success, and this area has begun to develop very actively," he said.

According to the exper, Armenia is only now transitioning to full-fledged market entrepreneurship.

"We are only just beginning to transition to market entrepreneurship, as previously there was a distorted entrepreneurship," Jrbashyan stated. He also emphasized that Armenia has a strong position in terms of business initiative.-0-