Tbilisi (GBC) - At a meeting of the Tbilisi Municipality Government on April 15, Tbilisi Mayor Kakha Kaladze announced that, by the decision of the capital's government, the pilot program for the "Support of Micro and Small Businesses" will be developed into a full-scale project and expanded. He said that as a result of the change, the financing limit for each entrepreneur will increase from 20,000 GEL to 50,000 GEL.

“Last year, we launched the pilot programme for micro and small business support, which generated considerable interest and achieved significant results. The City Economic Development Service has been monitoring the activities of entrepreneurs supported through the programme, and this oversight has shown that the programme’s effectiveness and results are undeniably positive. Based on these findings, we have decided to develop the pilot into a full-scale project, expand its scope, and increase the available funding. Last year, the financing limit per entrepreneur stood at 20,000 lari. This year, co-financing will rise to 50,000 lari,” the Mayor stated.

He noted that last year, just under 50 micro and small entrepreneurs were selected and supported under the programme.

“Those entrepreneurs were able to procure the equipment and machinery they required. In the selection and assessment of beneficiaries, preference will be given to candidates who have an active enterprise and can present a credible, constructive plan and vision for the development of their business. The co-financing proportions are structured as follows: up to 5,000 lari — 90% covered; from 5,000 to 20,000 lari — 85%; from 20,000 to 30,000 lari — 80%; and from 30,000 to 50,000 lari — 70% covered by the municipality,” Kaladze said.

He added that the programme would proceed, recognising its vital role in promoting business growth and generating new employment opportunities.

“The support provided under this programme helps existing businesses to grow further, raises their competitiveness, and, through our combined efforts, strengthens local production. I am confident that a great many people will benefit from it. Applications will be opened in the near future, and we will keep the public informed of the relevant dates,” the Mayor said.