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U.S. Consultations on Development and Growth of SMEs for Georgia

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Enterprise Georgia visits 1776 DC business incubator

CLDP, in cooperation with Enterprise Georgia, the Entrepreneurship Development Agency of the Ministry of Economy and Sustainable Development of Georgia (MOESD), hosted four days of U.S. Consultations in the Washington, DC metropolitan area on the growth and development of small and medium-sized enterprises (SMEs) for Georgia. Enterprise Georgia was created in March 2014 in response to the low profitability of SMEs in Georgia, which represent nearly 99% of all businesses in Georgia. The goal of the program was to bolster Enterprise Georgia's institutional capacity to support the development of the Georgian SME sector by addressing specific requests with targeted assistance and consultations; provide Enterprise Georgia with the necessary tools at both the policy and implementation levels to effectively promote economic development in Georgia through comprehensive technical support for  SMEs; and engage in an open discussion between Georgian and U.S. counterparts on sharing best practices to promote the development and growth of both small and minority owned and operated businesses.

The consultations included meetings, comprehensive discussions, and site visits with the U.S. Small Business Administration headquarters and district offices, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and Economic Development Administration (EDA), the Presidential Ambassadors for Global Entrepreneurship (PAGE) Initiative, the U.S. Export Assistance Center (USEAC) Baltimore Office, the Maryland Corridor Region Small Business Development Center (SBDC), the DC MBDA Business Center, the DC Women's Business Center, the George Washington University Office of Entrepreneurship, the State of Maryland Office of International Trade and Business, the House Committee on Small Business, the Honeywell Technology Experience Innovation Center, the Latino Economic Development Center, M&T Bank, and the business incubator 1776 DC. Through these consultations, the Georgian delegation had an opportunity to discuss the mission, structure, and services provided by these organizations in order to strengthen Enterprise Georgia's ability to provide financial, education and technical support to SMEs, which will in turn increase the number of effective, successful and sustainable SMEs in Georgia. A more competitive and sustainable SME sector will sput Georgia's economic growth and increase the ability of Georgian businesses to compete in the global market.

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