RETROSPECTIVE OF THE DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESSES IN GEORGIA IN 2009-2023

Abstract

The article - “Retrospective of the Development of Small and Medium-sized Businesses in Georgia in 2009-2023” - is dedicated to the analysis of the activities of small and medium-sized enterprises over the past 15 years. During this period, the turnover of small enterprises has increased 25 times, production output 25.8 times, added value - 27.9 times, intermediate consumption 23.6 times, etc. Profits, wages, labor productivity, etc. have increased 3-6 times.

The same situation was noted in the average business. In the first 4-5 economic indicators, a 16-21-fold increase was also observed, while the remaining indicators increased, but not at such a high rate.

The number of registered and active enterprises, both small, medium and large, by sector showed that in 2023 the share of active enterprises in 4 sectors is 52-67%. These sectors are: healthcare, real estate activities, transport and warehousing, and information and communication.

The share of actually active small enterprises increased from 21.7% to 26.5% in 2019-2023, while the share of active medium-sized enterprises in Georgia increased from 17.9% to 20.8%.