In today’s time, business entities envision the possibility of a global expansion. Entrepreneurs have reckoned that domestic business is alone not sufficient to sustain and thrive in the intensely competitive world of global business. In this connection, Georgia, the Eurasian country deserves a special mention. The country, with its rich history and culture, has emerged as a viable global business destination in the last few years. There are a number of reasons why international financial agencies have upheld the credibility of Georgia as a promising investment destination. No wonder, entrepreneurs today are keen to establish a business footprint in this Caucasian land. Do you wonder why you should invest in Georgia? To find the reasons that explain the popularity of this destination, continue reading below.
1. Geographic location- Georgia is blessed for being at a location that is marked with strategic significance. The country is nestled at the cusp of Eastern Europe and Western Asia. With Russia to its north and Azerbaijan to its east, Georgia has considerable access to an expansive market. Furthermore, the Black Sea to the east makes the country a major player in the maritime trade of the region. Investors today are taking advantage of this strategic location to gain maximum ROI on their various business projects in Georgia.
2. Ease of business- To start a business in Georgia, business owners face negligible to no hassles. Absence of red tapism has reduced corruption in this region. Furthermore, the prevalence of single-window clearance has encouraged entrepreneurs to invest in Georgia. In the global ease of doing business index, the country has been claiming a favorable position for some time now. In fact, it has fared better than the neighboring countries in terms of a nurturing a positive business climate.
3. Skilled and cheap labor- Manpower is the cornerstone of any successful business. In this regard, Georgia meets the expectations of global businesses to a great extent. The country houses a young and skilled workforce. Added to that, business administration happens to be the most sought after career choice amongst the young generation. It does not end here. The labor costs in Georgia are way cheaper when compared to the costs prevalent in other commercial capitals of the region. Needless to say, cheap labor costs entice entrepreneurs into investing heavily in various business sectors of this country.
4. Free trade flow- When discussing the favorable business set up in Georgia, one cannot overlook the decisive role played by its pro-business governments over the years. The country has signed favorable trade treaties with individual countries of the region and with significant trade blocs such as the European Union (EU). These business-friendly measures have lowered the export and import costs considerably. On top of that, the country is an active member of WTO, which empowers Georgia to globalize its trade while adhering to international norms.
Conclusion- Georgia has become an attractive investment destination in recent times. This write-up has discussed the factors that have created a favorable business climate in the country. By investing in Georgia, you can help your company achieve ROI and be competitive. However, to realize any business expansion, you can seek consultation from a reputed agency that will guide you at every step of investment.