კონფერენცია

∘ Teimuraz Shengelia ∘
BUSINESS DEVELOPMENT PROSPECTS IN THE CONTEXT OF THE COVID PANDEMIC CRISIS

Summary

The coronavirus pandemic has affected business development in Georgia. In the spring of 2020, the country restricted: cargo transportation, municipal transport, property rights, the right to operate business, which led to significant changes in the business sector. Its turnover has decreased significantly, the number of products produced is also characterized by a sharp regression, the decline in demand is the most pronounced side effect caused by COVID-19, which has significantly affected the hotel and restaurant business. Late payments from customers and changes in consumer behavior have exacerbated the liquidity problem of companies, causing them to face serious problems in meeting existing obligations. Businesses that were unable to switch to an online format for goods and services were in danger of bankruptcy.

Anti-crisis measures taken by the government of Georgia, despite their significance, required a more serious and in-depth argumentation.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Teimuraz Shengelia ∘ BUSINESS DEVELOPMENT PROSPECTS IN THE CONTEXT OF THE COVID PANDEMIC CRISIS Summary The coronavirus pandemic has affected business development in Georgia. In the spring of 2020, the country restricted: cargo transportation, municipal transport, property rights, the right to operate business, which led to significant changes in the business sector. Its turnover has decreased significantly, the number of products produced is also characterized by a sharp regression, the decline in demand is the most pronounced side effect caused by COVID-19, which has significantly affected the hotel and restaurant business. Late payments from customers and changes in consumer behavior have exacerbated the liquidity problem of companies, causing them to face serious problems in meeting existing obligations. Businesses that were unable to switch to an online format for goods and services were in danger of bankruptcy. Anti-crisis measures taken by the government of Georgia, despite their significance, required a more serious and in-depth argumentation.