Why startups must head to Georgia ASAP

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Ushguli, Svaneti national park, Georgia

You must already know that working on a startup is pretty hard work. Firstly, you have to come up with a solution that can solve problems, then you have to work on it, make a business plan, surround yourself with the right people, become an expert with everything you need and also prepare for anything. Then, after all of this, starts the stage of bureaucracy: papers, signatures, and running from one state institution into another. If you live in a country where the “bureaucracy stage” ends in less than 10 days, you are lucky. However, if you feel a sense of reluctance to keep filling in your registration forms for more than a week, you must go to Georgia and start your business there.

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Easy registration

Georgia is a country where you can finish registering your business just in one day, just at one location and just with one simple application, or you can even do it online. You can register a profit-making business and you are free to choose from any of the following business types: Limited Liability Company, Joint Stock Company, Joint Liability Company, Limited Partnership, Cooperative, and Individual Entrepreneur.

Currently, according to the World Bank’s latest Doing Business Ranking, Georgia is the sixth most business-friendly economy in the world, the fourth easiest place to start a business and the second-best jurisdiction at protecting the rights of minority investors. You, as an entrepreneur, can easily choose the type of business and simply register it. Depending on the type of business, prices will vary up to 100 GEL (≈ 30$).

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Startup heaven

Georgia is located between Europe and Asia, which makes it an excellent location from where you can expand your export more and more, and also get investors from foreign countries. Besides that, Georgia is a very cheap place in terms of taxes and labour.

Also, for now, the Georgian government is intensively trying to replace services and products with digital ones. Digital services, payments, and products are becoming more and more popular, and are used more often than in recent years. This makes perfect timing for your startup to take part in the “technological and digital revolution of Georgia”. Especially if your industry or domain is one of the followings:

  • Enterprise solutions
  • Cloud tech
  • Agritech
  • AI
  • Cleantech

When Jan Van Bilsen, the International Financial Corporation’s regional manager, spoke to Emerging Europe, he mentioned that “A liberalized economy, a generally favourable business environment, a wealth of natural endowments, and a prime geographical location, combined with an extensive network of free trade agreements,” are main factors that make Georgia great place for startups and entrepreneurs to start a business.

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How to start moving to Georgia

Of course, it is really hard to establish in a new environment, especially if it is in another country. The best way to catch up with the local market and get new connections is to attend events, where people with similar interests gather. On such events, you can find potential partners, listen to other people’s experiences, understand the challenges that might seem to block your way, and moreover, you can also find investors.

There are several organisations that offer you some help with their events and network:

Georgia’s Innovation and Technology Agency’s (GITA) mission is to improve the ecosystem in Georgia, in order to help startups develop and grow. As for Touch Platform and Startup Grind Tbilisi, their goal is to educate, inspire and connect entrepreneurs. The events provided by these organizations give you a great opportunity to integrate into the Georgian business environment and get successful.

Get your work done and ready. Opportunities of the Georgian market awaits you.

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