Some Elementary Problems of Business Running in Georgia


  • Teona Maisuradze International Black Sea University
  • Ilyas Ciloglu International Black Sea Ubiversity
  • Giorgi Bagaturia International Black Sea University



Bankruptcy Reasons, Business, Debt, Management, Management Principles, Own Capital, Practice, Scope of Business, S tartup, Theory


The purpose of this paper is to identify some trivial reasons of bankruptcy of business in Georgia. One of the main reasons of existing failures is business startups are related to lack of knowledge of business principles and of the negligence of their usage in practice. There is analysis of the existing problems of the people, which lost their property because they took a loan from the bank and (mostly) from private money lenders without any real justification.
The analysis shows that in spite of well-known, simplest requirements for successful business activity most of Georgian business beginners have ignored them. The paper shows that to avoid failure and bankruptcy of business is possible only on the basis of deep and broad study of the real conditions of business activity and gives several practical advices for business startups. The paper also offers short program of business education in order to assist business beginners to get acquainted with the most elementary knowledge of business activity.

Author Biography

Teona Maisuradze, International Black Sea University

Ph. D. Candidate and invited lecturer, Faculty of Business Management, International Black Sea University, Tbilisi