The Role of SME Sector in Georgian Economy
AbstractThe purpose of the paper is to investigate the economic role of Small and Medium Enterprises (SMEs) in Georgian economy to define the perspective of their development. This issue has a special meaning for transitional countries, which are developing their growth policy. To see the picture Georgia’s short statistical review has been done as well as survey was carried out. The main result of the investigation is that, despite SMEs make a considerable number of business enterprises in Georgia, they have occupied insignificant segment of Georgian economy according to their contribution into the main macroeconomic indicators - turnover, output, value added, national income, etc. Even a share of number of employed in this sector is less than that in European countries. SME sector is economically low efficient because productivity of labor of employed person is two – three times lower than that in average in the country. The survey identifies a lack of clear government SME’s program as a key concern of SME sector development in Georgian.