LEAVINGSTONE: Our Revenues have Fallen By About 15%

"If we look at the 6-month period, our revenues have decreased by about 15% compared to the previous year," said Erekle Zurmukhtashvili, LEAVINGSTONE's director of operations management.

According to him, the stimulus package offered by the state also affected some companies working in the creative sector, in particular, they benefited from the interests of income tax, but according to Zurmukhtashvili, given that this sector depends mostly on human capital, if there will be further benefits introduced, it will have a positive effect on the business.

"In summary, if we look at the 6-month period, our incomes have decreased by about 15% compared to the previous year. The stimulus package for the economy, which was announced in the tax benefits section, also covered our sector in a way, I mean the benefits imposed in the income tax section to a certain extent, and not so much because of the specifics of our industry.

We understand that even more benefits mean that budget revenues will be greatly reduced, and because the budget already has a large deficit, it will be difficult to demand more, but if there are any additional benefits, it is still the most relevant part of our income tax, ”Erekle said. Zurmukhtashvili.

As for expectations, the LEAVINGSTONE Operations Management Director predicts that if there is no second wave of the pandemic, the market for the creative industry will be activated in the fall.