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Challenges made by the pandemic in Georgian business and Opportunities to overcome them

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Manana Kharkheli

Doctor of Economics Associate Professor of TSU ORCID iD: https://orcid.org/0000-0001-6776-6324 E-mail: manana.khakheli@tsu.ge

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Mikheil Makasarashvili

PhD student, Invited Teacher at TSU ORCID iD: https://orcid.org/0000-0003-0539-761X E-mail: makasarashvilimikheil@gmail.com

Keywords: COVID-19; Atypical crisis; business; Growth rate; Falling rate.

Abstract

Peer review method: Double-Blind

Accepted: February 03, 2022

Published: April 04, 2022

Original scientific article

DOI: https://doi.org/10.52340/tne.2022.17.1.01

The paper work talks about the great negative impact of the pandemic on Georgian business. If in the period 2013-2019, before the pandemic, business in Georgia was developing significantly, in 2020, after the pandemic, it began to fall. This was especially the case in small businesses, where turnover (98.9%), output (99%), financial performance (99%) and employment (85.4%) decreased compared to 2019. Due to anti-pandemic restrictions, 49,446 jobs were lost in small businesses, with the same number of people joining the already large army of unemployed for an indefinite period.

In such a situation, the unemployed need protection. The author of the article shares the opinion of other scientists that it is time to introduce unemployment insurance in Georgia. He also supports the opinion of other Georgian scientists (V. Papava, V. Charaia, L. Sachaleli and others) that the atypical crisis caused by the pandemic needs special study, that it is time for a new understanding of economic policy, adaptation to a new, pandemic reality. In order to implement the ISO-9001 standard in small businesses, etc.

References:

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The New Economist N1, (2022), Vol 17, Issue 1

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Published Date:

11/04/2022