Over 20,000 new business ideas registered for ‘Produce in Georgia’

Over 20,000 new business ideas have been registered for the Micro and Small Business Promotion program of the state program ‘Produce in Georgia’.

During the first stage of the business registration process which was announced from May 15 to May 30 of this year, more than 20,000 online applications have been registered,” announced Georgia’s Ministry of Economy.

Once all business ideas were registered, a special commission started sorting out the best business ideas.

About 5,000 authors of the best business ideas will go through special trainings on entrepreneurship and designing a business plan.

The Micro and Small Business Promotion component was added to the ‘Produce in Georgia’ program in 2015. It aims to support the creation of new businesses in Georgia, as well as expand and further support existing businesses throughout the country.

Within ‘Produce in Georgia', a total of 3,205 projects of 4,909 beneficiaries were supported in June 2017 alone.

The total cost of these projects was 29,155,007 GEL (about $12,112,693/€10,869,739*).

As a result, about 8,000 people got jobs in Georgia.

*Currency conversions reflect National Bank of Georgia values as of today.