Gov’t pledges to support new businesses in regions

Every stakeholder will be entitled to receive up to 5,000 GEL financial aid as a grant from the state., 31 Jul 2014 - 14:00, Tbilisi,Georgia

The Georgian Government has announced a new public project to establish small businesses in every region of Georgia.

At an Economic Council meeting today, Deputy Minister of Economy and Sustainable Development Ketevan Bochorishvili presented the new project.

Under guidance of Prime Minister Irakli Garibashvili, who initiated the project, Bochorishvili told meeting participants how the project could enhance a person’s life and livelihood by giving them financial support to establish their own business.

"This project will mainly affect people who do not have financial resources and skills to start entrepreneurship before,” she said.

The new project aimed to establish small enterprises in all regions of Georgia. Every stakeholder will be entitled to receive up to 5,000 GEL financial aid as a grant from the state. In addition, stakeholders will receive educational and informational support to establish and develop small enterprises.

"In two to three years viable companies will be able to expand their activities. Also it is very important that the project is implemented in economically deprived regions,” Bochorishvili added.

"The program aims to increase economic activity in Georgia’s regions so in the first stage it will cover all sectors, fields and directions. These will be agriculture and industrial directions, as well as development of service-oriented activities.”

The program will consists of two parts – access to funding, small grants scheme and access to education and skills improvement. Bochorishvili said the state’s relationship with the budding business would not cease once the grant had been received.

"Throughout whole time [the state] will monitor the entrepreneur’s activities and [we] will support them. This is important to ensure that the project is properly implemented and has the prospect of expanding,” the Deputy Minister said.

The resolution was adopted at the Economic Council meeting.

The project will launch in September and will be a part of the state program Produce in Georgia.