Overview

Original Research

SMALL AND MEDIUM BUSINESS OPPORTUNITIES AND THE IMPORTANCE OF ITS SUPPORT IN GEORGIA

KHATIA UDESIANI 1, and SHOTA SHABURISHVILI 2.

Vol 18, No 04 ( 2023 )   |  DOI: 10.17605/OSF.IO/5P28E   |   Author Affiliation: Student of Doctoral Program of Business Administration. Ivane Javakhishvili Tbilisi State University. Tbilisi, Georgia 1; Doctor of Economics. Associate Professor. Ivane Javakhishvili Tbilisi State University. Tbilisi, Georgia 2.   |   Licensing: CC 4.0   |   Pg no: 1669-1673   |   Published on: 29-04-2023

Abstract

Small and medium-sized businesses are the driving force of the economy in the modern world. Small and medium-sized businesses are characterized by flexibility, innovation, and the ability to easily adapt to changes. Most importantly, SMEs have the potential to reduce unemployment and poverty. Due to the above reasons, governments are trying to encourage this sector by introducing various programs. The present study presents an analysis of opportunities for small and medium-sized businesses. Linear regression analysis established the relationship between the number of employees in small and medium-sized businesses and the gross domestic product. The paper presents recommendations for supporting and developing small and medium-sized businesses.

Keywords

Small and medium business; Gross Domestic Product; Economic Development; Poverty; Unemployment