OPPORTUNITIES AND CHALLENGES OF STATE-SUPPORTED SMALL AND MEDIUM-SIZED BUSINESS DEVELOPMENT IN GEORGIA

The small and medium-sized business sector is one of the most important pillars of sustainable economic development, ensuring regional economic stability, employment growth and the introduction of innovations. In the Georgian context, the development of small and medium-sized businesses is linked to both structural economic transformation and the socio-political stability of the country. Despite the fact that in recent years the state has activated its policy of supporting small and medium-sized businesses and launched various support, financing and technical assistance programs, this sector still faces many systemic and practical challenges, the solution of which is critically important for achieving sustainable development. The paper discusses the opportunities for small and medium-sized business development and the barriers and challenges they face in Georgia. The programs implemented with state support and their impact on the economic and financial activity of small and medium-sized businesses are analyzed. Although ongoing state-supported programs to some extent stimulate businesses to find the necessary financial and technological resources, they still fail to ensure the establishment of an economic system necessary for large-scale and inclusive development.