- Entrepreneurship in Georgia is not as developed as it is in many other countries
- There are not many good resources devoted to encourage Entrepreneurial activities in Georgia
- FDI is very low
- Georgian law and tax structure does not encourage Entrepreneurship, in fact it discourages doing business the legal way
- Until year 1998, if a business paid all the legal taxes and government obligations, the financial outflow would be higher than the revenues.
- Competition is very unfair. If a business has good government relationships, taxes and legal payments become lower or even eliminated, which puts the competitors at a disadvantage.
- Legal paperwork to set up a business is relatively easy and cheap. It can be done in about a month and costs approximately $900.
- Because of the corrupt justice system, there is low legal protection, unless there is a high ranked government official involved.
- Even though the freight is cheap to Georgia, customs duties are complicated. It acts almost as a separate government body. Unless one is prepared to give bribes, it’s time consuming to move the goods through the legal way.
Venture Capital & Funding