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.