Georgian Hospitality Fund Established to Support Small and Medium Businesses

The Georgian Hospitality Fund has been launched to assist small and medium-sized businesses in the hospitality sector facing economic challenges due to the country’s unstable environment.

Founded by Vakho Kandelaki and Anna Koshadze, the fund aims to help businesses continue operations and retain employees despite declining visitor numbers and financial hardships. The initiative is supported by donations, with the Bank of Georgia being the first contributor, providing 400,000 GEL.

The fund has set specific eligibility criteria for businesses seeking assistance. To qualify, companies must have been operating for at least two years, be VAT payers since 2023, have an LLC status, and an annual turnover of no more than 1,000,000 GEL. Applications will be accepted until March 30, after which the fund's commission will evaluate the needs of each business and determine the level of financial support required. The assistance amount will be between 2% and 5% of the company’s annual turnover.

For transparency, the list of beneficiary businesses will be published on the official website, www.ghfund.ge, along with the names of donors, unless anonymity is requested.

The fund emphasizes the hospitality sector’s crucial role in Georgia’s economy and calls on large businesses to support small enterprises through social responsibility initiatives.