Georgia to promote small business

The World Bank has carried out research in Georgia interviewing representatives of around 300 medium, small and micro businesses. 63% of those interviewed stated that they started their own business due to the fact that they could not find any other job. The majority of founders of medium and small companies have a technical education (31%).

The typical age of those who start small and medium business is over 40. There are a small number of such businesses, which have no employees but the owner. There are many entities registered in Georgia, however, not all of them continue their activities as many of them stop functioning even in the first year of existence.

The new Georgian administration plans to establish a small business development agency. It will be involved in identifying the problems medium- and small-sized businesses face in Georgia. There are several reasons for the problems in this direction, including low qualifications and experience, lack of substantial information, unequal competition, entry of low quality imported production in the country, etc.