ADVERTISEMENT
  • News
  • Technology
  • Culture
  • Entertainment
  • Sport
  • Travel
  • Music
  • More
    • Politics
    • Lifestyle
    • TV
    • Games
Thursday, November 30, 2023
  • Login
No Result
View All Result
NEWSLETTER
FINCHANNEL
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE
No Result
View All Result
FINCHANNEL
No Result
View All Result
Home Georgia

40% of Surveyed Companies in Georgia Suspending Expansion Plans

The FINANCIAL by The FINANCIAL
December 22, 2008
in Georgia
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter

The FINANCIAL — As the new “Business Optimism Study” of IFC suggests, 40% of the 400 companies surveyed in 6 big cities of Georgia, are postponing plans to expand because of August’s events. More than 40% are re-considering the decision to expand company operations in Georgia.

ADVERTISEMENT

IFC, a member of the World Bank Group, has presented the results of the “Business Optimism Study” to the Government of Georgia. “It will help identify the areas of the private sector which were most affected by August 2008’s events,” say IFC representatives.

 

RelatedPosts

Georgian PM:  “Pension was GEL 110 in 2012 and is now GEL 500.”

The double-digit economic growth in Georgia ended in 2023

Iran court sentences two journalists over role in 2022 riots

World Bank Launches Systematic Country Diagnosis Update to support Georgia’s Reform 

“According to the survey the number of employees has been decreased by 3.3 percent, a minor reduction is expected in the near future. On average 31 staff members were laid off in each company. Losses in terms of employment were slightly higher in Tbilisi, but regional enterprises have more pessimistic expectations. Salaries have decreased in more enterprises compared to those in which salaries have increased. In the following 6 months more enterprises predict increase rather than decrease of salaries,” said Irina Kokaia, IFC Georgia Business Enabling Environment Project Manager.

 

The highest plans for loan applications in the next 6 months are among finance sector representatives. In more than 75% of the companies the revenues have been decreased. Less than 2% of respondents replied that their revenues were increased as a result of the conflict. Decrease in revenues was most frequent in construction and transport industries. The majority of companies were expecting 16% growth in revenues, but as a result of the war revenues decreased by 23%.

 

IFC surveyed 400 enterprises in Tbilisi and six other large Georgian cities; Batumi, Kutaisi, Zugdidi, Gori, Poti and Rustavi. The surveyed companies were from the following sectors: Industry, Construction, Trade, Transport, Service and Finance.

Findings revealed that the conflict had a negative effect on the revenues of 77% of enterprises. According to the entrepreneurs surveyed, as a result of August’s events there was a 3.3 percent reduction of staff. 55% of entrepreneurs think that the revenues will not change in the next 6 months, while 33% believe that revenues will increase. 66% of firms expressed high or medium optimism about the short term business environment in Georgia, while 75% expressed optimism about the country’s business environment in the medium term.

 

On average, each enterprise anticipated 16% revenue growth, but in reality they experienced 23% loss. The main reasons were fall of demand for products during the conflict situation, saving money and delays in receiving new supplies. For these reasons 40% of companies surveyed postponed plans for expanding.

 

To date, the IFC Business Enabling Environment Project has conducted two national surveys of small and medium enterprises in Georgia and identified the main administrative and regulatory barriers to the development of the business sector. It has also helped the Government draft a Decree on Procedures for licensing of Natural Resources with the expected economic impact of USD 1.3 million. The project has trained 160 government officials, non-government and private sector representatives on improved regulatory procedures.

 

Written By Levan Lomtadze

 

 

ADVERTISEMENT
The FINANCIAL

The FINANCIAL

Since 2005

Related Posts

Verdict:  FactCheck concludes that Irakli Gharibashvili’s statement is FALSE
Georgia

Georgian PM:  “Pension was GEL 110 in 2012 and is now GEL 500.”

by The FINANCIAL
November 18, 2023
0

Resume: In 2012, the state pension was GEL 110-125 (for pensioners under the age of 67 it was GEL 110...

Read more
The double-digit economic growth in Georgia ended in 2023

The double-digit economic growth in Georgia ended in 2023

November 18, 2023
Grief, Technology and Revolution: A women, and youth led revolution in Iran

Iran court sentences two journalists over role in 2022 riots

October 22, 2023
Majority of public believes high-level corruption is common in Georgia

World Bank Launches Systematic Country Diagnosis Update to support Georgia’s Reform 

October 22, 2023
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Jeff Schwartz on Emergence and Evolution of Private Debt Markets

Jeff Schwartz on Emergence and Evolution of Private Debt Markets

October 18, 2023
mobile-banking.jpg

The experts at Symple Lending discuss how rising interest rates are make paying down credit cards more difficult.

September 6, 2023
Subway® and Wissol Group Partner to Expand Subway’s Presence in Georgia

Subway® and Wissol Group Partner to Expand Subway’s Presence in Georgia

November 8, 2023
EasyJet to fly to London from Stockholm Arlanda

The London Diplomatic List, Addresses, Contacts & Working Hours

January 23, 2023
Tegeta Holding won two nominations in the Corporate Sustainability Award Competition

Tegeta Holding won two nominations in the Corporate Sustainability Award Competition

October 23, 2023
Thalidomide: Australia gives national apology to survivors and families

Thalidomide: Australia gives national apology to survivors and families

November 29, 2023
Find out how the Levelling Up Home Building Fund can support you

Find out how the Levelling Up Home Building Fund can support you

November 29, 2023
The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

November 29, 2023
2023 Atlantic hurricane season ranks 4th for most-named storms in a year

2023 Atlantic hurricane season ranks 4th for most-named storms in a year

November 29, 2023
Renting ‘need not be a poor relation to home owning’, says report

Hud and Sensus Bureau Report New Residential Sales in Oct 2023

November 29, 2023

Popular Last 24h

  • WashingtonUSA

    FHA Announces 2024 Loan Limits, Empowering Homebuyers Amidst Rising Home Prices

    45 shares
    Share 18 Tweet 11
  • “Your assets are protected”

    17 shares
    Share 7 Tweet 4
  • Thalidomide: Australia gives national apology to survivors and families

    16 shares
    Share 6 Tweet 4
  • The experts at Symple Lending discuss how rising interest rates are make paying down credit cards more difficult.

    602 shares
    Share 241 Tweet 151
  • HUD Awards $25 Million to Public Housing Agencies to Expand More Housing Choices for Families

    15 shares
    Share 6 Tweet 4
  • The London Diplomatic List, Addresses, Contacts & Working Hours

    1629 shares
    Share 652 Tweet 407
  • Alejandro Betancourt López Credits Social Media With the Success of Hawkers

    45 shares
    Share 404 Tweet 253

LATEST POSTS

Thalidomide: Australia gives national apology to survivors and families

Thalidomide: Australia gives national apology to survivors and families

November 29, 2023
Find out how the Levelling Up Home Building Fund can support you

Find out how the Levelling Up Home Building Fund can support you

November 29, 2023
The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

The planet added another record-breaking month to 2023, with October ranking as the warmest October in the 174-year global climate record.

November 29, 2023
2023 Atlantic hurricane season ranks 4th for most-named storms in a year

2023 Atlantic hurricane season ranks 4th for most-named storms in a year

November 29, 2023
Renting ‘need not be a poor relation to home owning’, says report

Hud and Sensus Bureau Report New Residential Sales in Oct 2023

November 29, 2023
HUD Awards $25 Million to Public Housing Agencies to Expand More Housing Choices for Families

HUD Awards $25 Million to Public Housing Agencies to Expand More Housing Choices for Families

November 29, 2023
WashingtonUSA

FHA Announces 2024 Loan Limits, Empowering Homebuyers Amidst Rising Home Prices

November 29, 2023
US military aircraft with six aboard crashes off Japan island

US military aircraft with six aboard crashes off Japan island

November 29, 2023
This Is Spinal Tap’s Long-Awaited Sequel Will Be Filmed In 2024

This Is Spinal Tap’s Long-Awaited Sequel Will Be Filmed In 2024

November 29, 2023
Food price inflation continues to be at historically high levels, despite falling to 10.1% in October 2023.

Food price inflation continues to be at historically high levels, despite falling to 10.1% in October 2023.

November 29, 2023

LATEST INTERVIEWS

Lighting the path for sustainability in Georgia

Lighting the path for sustainability in Georgia

by The FINANCIAL
August 14, 2023
0

Toyota Plays a Crucial Role in Contributing to Georgia’s Zero Emissions Challenge

Toyota Plays a Crucial Role in Contributing to Georgia’s Zero Emissions Challenge

by The FINANCIAL
July 12, 2023
0

ESG stands for Environmental, Social, and Governance

ESG stands for Environmental, Social, and Governance

by The FINANCIAL
July 12, 2023
0

“EU membership might attract European banks and other financial institutions to enter Georgia”

“EU membership might attract European banks and other financial institutions to enter Georgia”

by The FINANCIAL
May 15, 2023
0

Main risks facing banks in 2023

Main risks facing banks in 2023

by The FINANCIAL
May 15, 2023
0

‘Russia cannot be treated as a reasonable and reliable trade partner

‘Russia cannot be treated as a reasonable and reliable trade partner

by The FINANCIAL
February 13, 2023
0

We should increase our joint efforts to assist the growing tech sector here in Georgia

We should increase our joint efforts to assist the growing tech sector here in Georgia

by The FINANCIAL
February 13, 2023
0

‘Georgia has much to offer to UK investors

‘Georgia has much to offer to UK investors

by The FINANCIAL
February 13, 2023
0

Newsletter

ADVERTISEMENT

GET IN TOUCH

E-mail your company news at:

news (at) financial.ge Letters to the Editor: editor (at) finchannel.com

Local Marketing contact:

(+99532) 2252 275 | 76 EXT: 1 (+995 558) 03 03 03 (mobile) marketing (at) finchannel.com

Requests from abroad:

(+99532) 2252 275 | 76 EXT: 7 (+995599) 96 52 52 Email: zviadi (@) finchannel.com Contact video editor: E-mail: video (at) financial.ge

Postal address: 17 Mtskheta str. Tbilisi, Georgia 0179 The FINANCIAL

RESOURCE

  • Work at the FINANCIAL
  • ePaper
  • Advertise in The FINANCIAL
  • Access ePaper
  • Guest posts
  • Contributed articles
  • AmericanStockNews
  • Coupon Codes
  • GLOSSY MAG
American Culture Center
ACC Partner

GUIDEBOOK

  • Meet our team
  • Invest in Georgia
  • Become contributor
  • Archive

FOLLOW US

  • Facebook
  • Twitter
  • Google+
  • Youtube
No Result
View All Result
  • Home
  • Business
    • BANKS
      • GeoBanks
    • Finance
    • Insurance
    • Markets
    • Pharmacy
    • Press Releases
    • RealEstate
    • RealEstate
    • Finance
    • Insurance
    • Banks
      • GeoBanks
    • Markets
    • Press Releases
    • Personal Finance
  • World
    • America
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Europe
    • Georgia
      • Media
    • Ukraine
    • Americas
    • UK local news
  • Travel
    • Hotels in Georgia
    • Tours in Georgia
  • Videos
    • Promos
    • Soundslides
    • TheClinics
    • TheHoteliers
    • TheUniversities
    • TheHoteliers
    • TheClinics
    • TheUniversities
    • BestWorkplaces
    • Soundslides
    • Promos
    • Banking Forum
      • Promos
      • Soundslides
      • TheClinics
      • TheHoteliers
      • TheUniversities
  • Opinion
    • Editorial
      • Analysis
      • GORBI
      • OP-ED
      • VISA Editorial
    • Analysis
    • Gorbi
    • Book reviews
  • Tech
  • Interview
  • People
    • CityLife
    • Health & Beauty
      • Coronavirus
    • LifeStyle
    • Employment
      • MyCareer
    • Education
    • Media
    • Celebrities
  • Oil&Auto
    • Auto
    • Energy
  • EN
    • EN
    • GE

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.