The program implemented by The Entrepreneurship Development Agency, under The Ministry of Economy and Sustainable Development of Georgia, promotes the activation of the regional population. By the Financial assistance the regional residents get the opportunity to initiate their own business, while the consulting component provides to raise an awareness from the business doing aspect.
As Entrepreneurship Development Agency – the first institution in Georgia mandated to facilitate private sector (and in particular SMEs) development, It is notable, that according to last data 5 313 projects have been supported and by the co-financing more than GEL 38 mln has been granted, that includes 8 412 beneficiaries.
The initiation to support the Micro and small entrepreneurs is implemented within the state program “Produce in Georgia” under the Entrepreneurship Development Agency.
The main aim of the program is to develop micro and small businesses by supporting the business entities and developing the regional markets. The project also aims to increase the incomes of the inhabitants and implementation of the program within economically deprived regions. In general, supporting the SME’s projects are aimed to improve the social conditions of the regions and the overall economic welfare of the country;
The decrease within the economic disparities between the big cities and regions can be detected based on the implementation of the program, which will have positive impact on a number of factors, including:
- Increase the competitiveness of regional businesses;
- Reduced migration of population from the region (to the city or abroad)
- Implementation of modern business practices within the region;
- Diversification of Regional Products;
- Increased demand on local products;
- Creation of additional working places;
The person who will have the opportunity to enroll within the program has to be an adult (18 years old), a citizen of Georgia, not a public Officer, nor an employer of Entrepreneurship Development Agency nor his/her relative, does not have overdue of tax obligation and has expressed the commitment to register as a tax paying physical person after the successful triumph within the competition of business plans.