MBConś is a Georgia-based market research and business consultancy firm, with offices operating in Tbilisi and Batumi. The company assists its clients with evaluating the local market for a business endeavor to be successful in Georgia. MBConś is the official member of Georgian Farmers Association and a partner of Agricultural Project Management Agency.
Tell our readers a bit about your company and what services it provides to its clients, please.
MBConś is a business consulting company started in 2012, we are working with various business industries and offer our clients numerous services such as: raising capital, writing business/investment plans, financial modeling, market research and feasibility studies. We as well provide consultations at the start-up phase of business ideas to optimize them for becoming suitable to our market. In addition, at the commencement stage we offer our beneficiaries their historical financial analysis to measure the approximate capacity of funds that could be allocated from different institutions such as: banks, state programs and existing funds.
Do your services only cover the initial stages of the project, or do you continue assistance once the business is set up and functioning?
Our service is more tailored for the start-up phase, or during the business expansion, but we do have clients, that we helped to allocate funds and now after the launch of their business we give recommendations towards strategic decision making, doing their sales and financial analysis on a daily basis.
MBConś cooperates with Agricultural Projects Management Agency, which is the Ministry of Agriculture’s agency that provides affordable loans to agricultural start-ups. How far does your cooperation extend? Would you say MBConś can provide for its clients in this sphere more than other consulting firms would?
Under this state program, grants and subsidized loans are issued for agricultural factories. We are the contractors of the Agency for more than a year now and our competences are to provide market evaluation and business plans. The projects are directly forwarded to our company from the Agency and all the costs for the service are covered by them, so the beneficiaries are not additionally charged. In terms of the competition, I can say that we are the company that has the biggest number of Agro projects conducted so far. We as well have worked with the projects that are absolutely new and revolutionary for the Agro industry, such as: cultivation of rice and blubbery in Georgia. I think we have the most diverse portfolio among the local consulting firms.
MBConś portfolio is very diverse, indeed, with clients ranging from industries such as agriculture, energy sector, tourism and pharmaceuticals. Which area would you say is your company’s forte?
I would not say that there is a particular field that we concentrate on. Our service is universal and what we offer, the methodology of it, easily fits to any industry or product. The vast majority of projects conducted in Agriculture, Hotel industry and Manufacturing is due to the market tendencies and demand that exists because of the state support and interests of the foreign investors.
Foreign investment is one of main driving forces of the Georgian economy. How do you go about attracting foreign investors? Would you say MBConś has made a significant contribution to the local business activity in this regard?
At the initial phase of our consulting business, major part of our clients, were foreign investors whose interests were to invest in local hotel and restaurant businesses. By then, we had a major project of a 4-star hotel in Batumi, with investment potential ranging around 23 million USD. But since the governmental change and a shift towards state-supported programs in Agriculture and Manufacturing (where there are restrictions for foreigners to invest), the proportion of FDI’s has lowered. Today we still have several ongoing foreign projects. On a local level we already have contributed in opening of 12 new manufacturing factories around the country. In the near future they will all make a significant contribution to the local community and business activities in Georgia.
What would you say are the specificities of Georgian market that you find is often unfamiliar to foreign businessmen?
It is the banking system, permits and state regulations that foreign investors are most unfamiliar with. Our company, of course, provides them with solicitation towards settling these issues as well.
Learn more about the company on their website.
Prepared by Nino Gojiashvili
Editor at CBW.ge