In the 21st century, Georgia’s turbulent period has come to end following the Rose revolution in 2003 which revolutionized the country and implemented major democratic and economic reforms aimed at integrating Georgia into the North Atlantic Treaty Organization (NATO) meanwhile growing increasingly close to the European Union (EU) and the United States.
Currently, Georgia is considered as one of the best countries in ease of doing business and ranked 9th in the World Bank’s “Doing Business 2018”, the fourth easiest place to start a business and the second-best jurisdiction at protecting the rights of minority investors. Moreover, as one of the safest countries in the Eastern Europe Georgia has the lowest crime rate and corruption in the region. Over the past decade, Georgia has been committed to its growth and constantly improving the investment climate as the country is open for foreign investment, the state has also been liberalizing trade through free trade agreement while facilitating the startups and businesses to flourish in the country. The main economic drivers in Georgia are sectors like agriculture, energy, transportation, real estate, tourism, etc..
Top 10 Small Business Ideas for Georgia
Agriculture in Georgia is a profitable business with vast tracts of fertile lands, this sector employs over half of the state’s labor force standing. Specifically, poultry farming in Georgia ranks very high in terms of profitability. If you are interested in this business, make sure to secure long-term and large-scale customers like hotels and restaurants who know to appreciate a local supplier.
Georgia has fascinating locations across the country for different types of establishments with great views and great customer potential in tourist places. With low start-up capital and drive to deliver excellent services starting cafés or restaurants in Georgia is an excellent decision as Georgians enjoy socializing in public places, so it is a business that attracts many visitors. This industry is especially interesting to potential small business owners because it does not require large substantial capital and it is easy to register such a business.
3.Tourism Consultancy Services
Georgia is a gateway to many Central Asian countries offering tourism consultancy services are always a good idea in places where tourism is one of the major economic sectors. Georgia offers lots of scenic tourist sites, ski resorts, beaches and some of them are even on the UNESCO Heritage List. An additional benefit is that you only need a tourism certificate that allows you to start your own small business. The certificate is easy to obtain, but a certain level of experience is also key.
4.Old People’s Nursing Home
Another thriving and profitable business that can be established in Georgia is old people’s nursing home. Even though Georgia is a traditional country that is in transition, and the trend of nursing homes is growing since many old people want to enjoy their old days in an adapted setting peacefully. Once you are trained as a nurse and you have your license, then you should consider starting your own old people’s nursing home. One good thing about this type of business in Georgia is that you can set up the business in both the urban and rural area and it will still thrive.
5.Pharmacy and Wellness Shop
If you are a trained pharmacist and you have a license to practice, then you should look at starting your own pharmacy and wellness shop. The truth is that pharmacy and wellness shop is one of the businesses that can survive in any part of the world. Although the pharmacy industry is highly regulated in Georgia, the fact remains that it is highly profitable. One advantage to do it in Georgia is the fact that there is not much competition which gives you the advantage to build up an endless client list.
6.Restaurant and Bar
Starting a restaurant and bar is yet another highly profitable business that an entrepreneur can set up in Georgia with ease. If you know you have all it takes to set up this kind of business with experienced cooks, bartenders, and wait staff, then it will be to your advantage to start your own restaurant and bar business by investing in Georgia. All you need to do is to ensure that your restaurant and bar are well located, advertised and you will surely attract enough clients per time.
If you are a trained lawyer and you want to become your own boss, you should consider establishing your own law chamber. The truth is that there are loads of people you can render legal services to in Georgia. Just ensure that your legal services are affordable to a larger percentage of the population.
8.Dry Cleaning Service
Starting a dry cleaning service is yet another small scale business that an entrepreneur can set up in Georgia with little or no stress and with low start-up capital. If you are looking to start a small scale business in Georgia, then you should consider starting your own dry cleaning service. It is indeed a profitable business, especially if you are aggressive with your marketing.
Fitness centres became an integral part of any nation in the world, no matter if we are talking about developed or developing countries, fitness centres have long waiting lists for membership which means that they are a well-oiled profit machine. If you are someone who is interested in health and sports, you should definitely think about running a fitness centre in Georgia since the country could use additional fitness training facilities.
10.Real Estate Business
The real estate industry is considered to be one of the major contributors to the economy of Georgia and it is still growing. Real estate agents in Georgia make a small fortune, if you are interested in properties, beautiful homes, and marketing, this could be your thing. There are many ways an investor can participate in this industry; you can come in as a building contractor or as a real estate agent. The bottom line is that in whichever way you intend coming into the industry, you stand the chance of making huge gains.
Lastly, the fact that Georgia is one of the best places to start a business it makes it very encouraging for entrepreneurs to set up their own businesses. Take a look through the top 5 five things you need to know before starting your business in Georgia, then make your choice and get started. If you don’t want to go through the stress of incorporating the business, obtaining permits, and legal licenses for your business in Georgia. Our team is expert in delivering professional business incorporation services in Georgia to entrepreneurs from all over the world. If you still have a query, do feel free to contact us –we’d be glad to assist.
Do I need an industry license in Georgia if I have an LLC?
You need an industry license in Georgia if you have an LLC.
Can I get a Georgia business license online?
Yes, one can get a Georgia business license online.
Does a sole proprietor need a business license in Georgia?
There isn't a requirement in Georgia for sole proprietors to acquire a general business license. However, depending on your business type, one needs other licenses and permits to operate in a relevant way.
Do I need a business license for a rental property in Georgia?
Owners of any number of units of residential and commercial rental properties must have a business license.