Legislative Challenges of Georgian Entrepreneurship and Business Competitiveness

Abstract

This paper examines the legal environment affecting entrepreneurship based on theoretical and practical examples, as well as identifies and analyses challenges based on the role of Georgia in international rankings and research on businessmen. Georgia belongs to the group of developing countries, where social problems are acutely on the agenda. A country with a gross domestic product of US$15.8 billion (US$4255.70 per capita), Georgia has great potential for rapid development through growth in entrepreneurship. Creating an attractive environment for businesses should therefore become an important agenda for the government. Based on quantitative research, 11,207 business entities in Georgia have been surveyed to examine the legislative challenges for businesses. The survey results revealed the need to improve the business regulation framework, facilitate institutional change in the business environment, and enact entrepreneurial legislative reform.