February 2016: 50% surge in new businesses in Georgia

- Last year in Georgia the employment rate increased in rural areas while it dropped in towns, said Geostat. Photo by N. Alavidze/Agenda.ge
Agenda.ge, 11 Mar 2016 - 13:00, Tbilisi,Georgia

The number of new businesses registered in Georgia is on the rise, showing more investors are attracted to the favourable business environment Georgia has created. 

Business registration figures increased 50.5 percent in February 2016 compared to the previous month, said the National Agency of Public Registry.

Following the increase in monthly figures, February data showed business registration had also increased by 2.4 percent when compared to the same period of 2015.

In total 4,231 new business entities were registered in Georgia in February 2016. Of this, 97.7 percent were individual entrepreneurs and 4.3 percent were for other, profit-driven businesses or organisations.

Month-on-month the number of individual entrepreneurs increased by 48.1 percent and the number of for-profit organisations increased by 134.6 percent in February, said the Agency.

A positive trend was also observed when comparing data with the same period of 2015. Year-on-year February 2016 figures showed a 1.2 percent increase in the number of registered individual entrepreneurs and a 37.6 percent increase in the number of the for-profit organisations.

The monthly figures showed the majority of new company owners mostly chose to pursue individual entrepreneur and Limited Liability Companies. These two types of companies were selected by the majority (92.6 percent) of the 4,231 registered business entities in Georgia.

The Agency noted 2,055 individual entrepreneurs and 1,865 Limited Liability Companies were registered in Georgia last month. 

In total, 181 non-profit legal entities, 90 cooperatives, 26 foreign for-profit legal entities and 12 joint-stock companies were registered in February 2016, stated the Agency.