Georgia's Position Improved in SME Policy Index-2020 by OECD

Georgia has been promoted in all 12 categories in the SME Policy Index - 2020 published by the Organization for Economic Cooperation and Development (OECD) since the previous report that was published in 2016. 

"From an already strong position, Georgia has made further progress since 2016 by adopting a more strategic approach to small and medium-sized entrepreneurship development through targeted initiatives. The adoption of the SME Development Strategy 2016-2020 and respective action plans, the improvements made to entrepreneurial learning and women’s entrepreneurship, the continued simplification of business registration, and the increase in e-government services have drastically improved the operational environment for SMEs."

"Going forward – and with a view to seizing all the opportunities offered by the Deep and Comprehensive Free Trade Area with the European Union – the Government of Georgia should prioritize the creation of level-playing-field conditions for enterprises of all sizes and provide for more-efficient enforcement of contracts and competition law. Moreover, strengthening the support provided to exporting SMEs (including targeted financing tools) would be of crucial importance – as would expanding the links between foreign direct investment and domestic businesses beyond pilot projects, to further attract quality FDI and increase the competitiveness of Georgian SMEs," reads the report. 

SME Policy Index scores for Georgia, 2020 vs. 2016. Screenshot from the report

Assessing the Implementation of the Small Business Act for Europe is a unique benchmarking tool to assess and monitor progress in the design and implementation of SME policies against EU and international best practices. It is structured around the ten principles of the Small Business Act for Europe (SBA), which provide a wide range of pro-enterprise measures to guide the design and implementation of SME policies. This report marks the third edition in this series, following assessments in 2012 and 2016.

Full report available here 

By Ana Dumbadze