EU4Business Countries Georgia

Georgia

As of 2023, SMEs continue to dominate Georgia’s business landscape, accounting for nearly all active enterprises. Small businesses contribute 17.9% of total turnover and 29.3% of total production, while medium-sized businesses account for 15.3% and 24.6%, respectively. Together, SMEs provide jobs for 59.6% of the workforce, reaffirming their crucial role in the country’s economic growth.

The country has simplified procedures and regulations, making it attractive for entrepreneurs. However, Georgia's SME sector still grapples with challenges such as limited access to financing, job skill mismatches and low job creation, restricted export activities, and limited innovation and research spending.

The EU has been actively supporting SMEs in Georgia through the EU4Business program. In 2023, 50 different projects were executed with a total budget exceeding EUR 308 million, resulting in support for 39,072 SMEs. These initiatives led to the creation of approximately 36,973 new jobs and a 12.8% growth in the overall turnover of SMEs in Georgia.

Results in 2023

To meet such challenges, the EU has been actively aiding Georgia SMEs via the EU4Business Initiative. In 2023, the initiative funded 50 diverse projects with a total of over EUR 308 million, benefiting 39,072 SMEs. Together, the projects generated around 36,973 new jobs and drove a notable 12.8% increase in the total turnover of SMEs in Georgia.

€308mln

total budget of EU support

projects

39,072

SMEs supported

40%

women owned

36,973

new jobs created

€204mln

extra income generated by EU-supported SMEs

data for georgia
2023

If you want to find out more about EU4Business in Georgia, check out the local website

https://eu4business.ge