In 2020, SMEs made up nearly all of Georgia's active businesses (99.6%). They provided jobs for 59.3% of the workforce, contributed 40.8% of the sector's revenue, and accounted for 58.0% (equivalent to GEL 25.2 million) of the sector's total output.
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 2022, 45 different projects were executed with a total budget exceeding EUR 341 million, resulting in support for 30,628 SMEs. These initiatives led to the creation of approximately 24,284 new jobs and a 18% growth in the overall turnover of SMEs in Georgia.
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