Business Awards 2016 reveals best small companies in Georgia

Out of 523 competitors the Business Awards 2016 revealed the 7 best ones. Photo by TBC Bank., 18 Nov 2016 - 11:49, Tbilisi,Georgia

The country's annual Business Awards have revealed seven small companies as winners of 2016.

One of Georgia’s largest banks, TBC Bank, and telecommunication company Geocell announced the seven winning small companies out of 523 competitors at today's awards ceremony in capital Tbilisi.

Winners of the Business Awards 2016 were:

  1. Small Business of the Year – White Studio
  2. Innovative Business of the Year - Biochimpharm
  3. Tourism Business of the Year - Barbarestan
  4. Georgian Product of the Year - Badagi
  5. Agro Business of the Year – BPC (producing wild rosehip juice)
  6. Business of the Year – Zeta Camping
  7. People’s Choice – Educational organisation Kings

TBC Bank and Geocell aimed to promote and support the development of small and medium-sized businesses (SMEs) in Georgia. For this purpose they invited small companies that were registered in Georgia before 2016 with an annual turnover below 10 million GEL (about $4 million/€ 3.80 million*) to compete for this year's awards. 

'Success is Contagious' was the slogan of the Business Awards 2016. Photo by Georgia's Ministry of Economy's press office.

Since the application process opened on June 21, 523 SMEs applied to the competition and yesterday the seven winners were announced.

Georgia’s Minister of Economy Dimitry Kumsishvili attended the business awards ceremony. He believed the event would further motivate successful businesses to achieve more.

To develop our country’s economy it is important to increase the number of small and medium-sized businesses in the country. Today SMEs make up a 21 percent share in Georgia's Gross Domestic Product (GDP), while in developed European countries it is over 70 percent,” said Kumsishvili.

When speaking at the awards ceremony the Minister spoke about the activities of the Government that supported SMEs in Georgia. As an example he named the Start-up Georgia state program, which will help over 4,000 small-time entrepreneurs to receive financing.

*Currencies are equivalent with the latest National Bank of Georgia exchange rate.