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Micro and Small Enterpreneurship Project to Continue with New Terms from August 20

Ministry of Economy and Sustainable Development Agency within “Produce in Georgia” continues micro and small entrepreneurship support added new components.

The share of participants will rise up – the share of beneficiary group is defined by at least 50 percent of the amount of financing, while it amounts 20 percent with new terms. The maximum amount of financing is increased and instead of 15,000 GEL, it is 20 000.

Aim of the program: diversification of regional business; Creation of new jobs in the regions; Establishment of modern entrepreneurial culture in the regions; Reducing economic migration;

Support: Financial support for launching business or expansion reasons; Technical support through trainings / seminars and individual consultations.

The grant capacity: up to 20,000 GEL per entrepreneurial entity with 20% participation by the beneficiary (those who already have a 50% share of micro enterprise component).

Repeated financing: In case of repeated funding of existing beneficiaries, only successful startup financing (50% participation) will be implemented;

Beneficiary: citizen of Georgia who at the time of completion of the application will be an adult;

Scope:The program is implemented throughout Georgia, except for Tbilisi;

Duration of the program: 14 months (grant will be issued within 6 months (November-December 2018) from completion of the application and the monitoring will be carried out by September 2019);

Priorities: Intellectual Services; Female entrepreneurship; Startup; Business implemented in rural areas;

Limitations: primary production of agriculture;

The grant amount: will be issued only for the purchase of basic means. The Beneficiary is required to submit the relevant procurement document;

Implementation: implementation will be carried out through contractor organizations;

Stages:

  • Business ideas competition;
  • Training in General Entrepreneurship
  • Business Plans Contest
  • Contract agreement;
  • Enrollment of the contribution amount;
  • Transfer of grant amount;

Micro and Small Business Support Component of the Agency “Produce in Georgia” promotes the activation of the regional population by promoting their business. By providing financial support, the residents of the region have the opportunity to start their own business, and the existence of a consultative component will ensure that individuals are interested in doing business.

As of 2015-2018, within the framework of the “Produce Georgia” Agency, 5 313 ​​projects are supported, with the total volume of investments up to 50 million GEL. In addition, 22 949 474 GEL has been issued for 8 412 beneficiaries. The project is implemented in all regions of Georgia except Tbilisi.