In a continuing effort to contribute to the development of a sustainable infrastructure of local business advisory services, The European Bank for Reconstruction and Development (EBRD) SME Finance and Development Group in Armenia and the European Union initiated SME Finance special three-day training on 26-28 October in Yerevan. Banks.am talked on this topic to SME Finance trainer Juan Gamecho.

- Mr. Gamecho. Could you please tell us about the upcoming training course? What is the main theme of the course and its objective? Who is the course intended for?

- The SME Finance course that we are delivering is intended for business advisers. These are individuals who have amassed significant experience in working with a wide range of different businesses across a broad spectrum of industries in Armenia. The main theme of the course is to provide training in finance to these advisers, so that they can potentially provide financial solutions to the development of SME’s in the country, including potential financing from EBRD.

- What are the main topics of the course?

- The course covers the analysis of key financial drivers in business. We will assess the composition and structure of a company’s financial statements, and use them to assess the financial performance of SME’s. We will also look at financial structuring solutions for SME’s comprising a mix of debt and equity financing. The course will culminate in the delegates presenting and recommending a financing project of an Armenian company, to a panel of EBRD bankers.

- Would you, please provide us some details regarding the course format? What the participants can expect?

- Well they can certainly expect a lot of hard work! The course is very intense because we need to bring the advisers up to speed with a holistic understanding of finance in only three days. The delegates will work in small project groups and will be required to work on the financial analysis of an Armenian food producer based on the information learned during the course. Although there will be a lot of work to cover, the aim is to make the course as interactive and as fun as possible. Learning in a relaxed environment is essential for effective training.

- This will be your first visit to Yerevan and first training for local consultants, what are your expectations?

- This will be my fourth training session with EBRD's Advice for Small Businesses unit so I have good experience of the high caliber individuals. I have already been very impressed with the biographies of the delegates attending the course and I am confident that the local consultants will be as good as the rest of their colleagues at the bank.

- Mr. Gamecho, how would you rate the potential of Armenia in terms of financial consulting market development?

- The Armenian economy has faced a number of challenges in recent years but the development of the SME sector in the country will provide the seeds for longer term growth and prosperity to the country. I am therefore confident that once economic recovery is firmly entrenched, firms will increasingly need the help of business specialists and financial consultants to help SME’s develop and grow.