Small Business Investment Opportunities in Georgia
Georgia is a small country that once was part of the mighty Soviet Union under the tight leash of the Russian centralized government, but after it gained its independence 26 years ago, the country slowly worked its way up as an independent state with its own government.
One of the biggest assets of Georgia is its geographical position as it lies between the continents of Europe and Asia on the Black Sea. Being between continents definitely encourages economic growth of a country and Georgia is on its path to become the regional hub for trading between Asia and Europe. The country is also surrounded by powerful neighboring countries like Russia, Turkey, and Azerbaijan which gives the country plenty of opportunities to spur its economy through good neighborly policies and bilateral agreements with the two strong economies.
Georgia’s 5 million population might not be big, but it is certainly enough to support economic development, especially because Georgia stands out as one of the most rapid developing economies in Eastern Europe. The main economic drivers in Georgia are sectors like agriculture, energy, transportation, real estate, tourism, etc.
The agricultural sector employs over half of the state’s labor force standing at incredible 53%, whereby the majority engages in the production of nuts, cucumbers, fruit, crops, tea, etc. When it comes to tourism, Georgia counts approximately million tourists on an annual basis. The tourism sector is very attractive in Georgia with a $313 million profit per year. Georgia is a promising country and has definitely multiple business opportunities for natives but also for foreigners. The World Bank ranked Georgia the 9th country when it comes to ease at doing business, which is great news for all those who are looking for opening a business in another country. What specific sectors are especially desirable is listed below.
Restaurants and Cafés
Georgia has very great locations at disposal for different types of establishments like Cafés and restaurants. Georgians enjoy socializing in public places, so it is a business that attracts many visitors. This industry is especially interesting to potential small business owners because it does not require a large substantial capital and it is easy to register such a business.
We have already mentioned that agriculture is very popular, but we have not said that a poultry farm ranks very high in terms of profitability. If you are interested in this idea, make sure to secure long-term and large-scale customers like hotels and restaurants who know to appreciate a loyal supplier.
The Pharmacy Industry and Wellness
This industry is not only thriving in Georgia but also elsewhere in the world. The profitable business pays off either way, so if you are lucky enough to have a license to practice, definitely consider opening your own pharmacy and wellness shop in Georgia. One advantage to do it in Georgia is the fact that there is not much competition which gives you the advantage to build up an endless client list.
Nursing Home for Senior Citizens
Georgia is a traditional country that is in transition, and the trend of nursing homes is growing since many old people want to enjoy their old days in an adapted setting peacefully. In Georgia, you can opt for urban as well as rural locations. This is an ideal opportunity for trained, licensed nurses.
There could not be enough dry cleaners even if one could be found on every corner. The dry cleaning industry is booming and represents a good opportunity for those who have a small start-up capital at their disposal. Georgia is also one of the places where dry cleaning services are highly in demand.
Tourism consultancy firms are always a good idea in places where tourism is one of the major economic sectors. Georgia offers lots of tourist sites, and some of them are even on the UNESCO Heritage List. An additional benefit is that you only need a tourism certificate that allows you to start your own small business. The certificate is easy to obtain, but a certain level of experience is also key.
The real estate sector ranks very high in Georgia as one of the biggest economic contributors. Real estate agents in Georgia make a small fortune thanks to the growing real estate industry. If you are interested in properties, beautiful homes, and marketing, this could be your thing. You can also opt for becoming a building contractor if you like. The thing is that you cannot go down in this business.
Fitness centers became an integral part of any nation in the world, no matter if we are talking about developed or developing countries, fitness centers have long waiting lists for membership which means that they are a well-oiled profit machine. If you are someone who is interested in health and sports, you should definitely think about running a fitness center in Georgia since the country could use additional fitness training facilities.