On June 12, an interesting meeting was held at the Hilton Garden Inn, bringing together representatives from various business sectors. Shorena Kopaleishvili, the chairman of the Association of Georgian Virtual Zone Persons, also participated in this event. The meeting focused on several key topics relevant to the business community.

Topics Discussed

Latest Legislative News

Law of Georgia on Entrepreneurs:

Updates to the legal framework governing entrepreneurial activities.

Personal Data:

New regulations and guidelines for personal data protection.

Transport – Bus Stations:

Legislative changes affecting the operation and management of bus stations.

Innovations – Tax Changes:

Recent innovations and changes in tax policies impacting businesses.

Open Banking:

Introduction and implications of open banking regulations.

Alternative Sources of Financing

This segment explored various financing options available to businesses beyond traditional banking. Discussions included new financial instruments and investment opportunities, providing attendees with valuable insights into how they could secure funding for their ventures.

Business Guide Platform Overview and Future Plans

A significant part of the meeting was dedicated to an overview of the business guide platform and its future plans. This platform, created by the European Bank for Reconstruction and Development (EBRD), offers advice on managing small and medium-sized businesses (SMEs). The website was developed in collaboration with the UK Government’s Good Governance Foundation and is tailored to the specifics of Georgia, Moldova, and Ukraine. 

The platform aims to support SMEs, which make up the largest part of the business sector and are significant employers and contributors to value addition in these economies. However, SMEs often face substantial challenges.  To address these challenges, the EBRD launched this project to provide practical legal and business guidance, helping SMEs navigate financial difficulties and legal uncertainties. The goal is to enhance business effectiveness amidst complex challenges.

The platform’s content is meticulously adapted to the local market specifics and legislative requirements of Georgia. This was achieved with the help of partners like the “Investors’ Council” and “Invest in Georgia,” along with several local business organizations. The meeting highlighted how these resources could be invaluable for SMEs in Georgia, providing them with the necessary guidance to thrive in a challenging economic environment.

Overview of EBRD Projects

The final topic of the meeting was an overview of EBRD projects. This segment provided insights into ongoing and future projects aimed at supporting SMEs and fostering economic development in the region.

Conclusion

The meeting was a valuable event for the business community, offering crucial updates on legislative changes, alternative financing options, and resources available through the EBRD’s business guide platform. The discussions helped participants understand how to navigate the current business landscape and leverage available tools and guidance to enhance their operations and resilience.