Summary 

The purpose of this paper is to improve the analysis of the financial stability of enterprises and identify the key factors affecting the establishment of the sustainable growth trend of enterprises (except the financial sector) in Georgia. 

The subject of the study is the financial positions and financial results of the analytical enterprises.

The first and second categories of joint-stock companies of Georgia and limited liability companies were selected as the research objects. Ten enterprises in total.

The research methodology includes methods of economic and statistical analysis, factor analysis and ratio analysis.

The results of the study are as follows:

• Solvency and investment ratios are below the norm in most analytical enterpriseს;
• Low profitability of enterprises. The Georgian Railway and the Stock Exchange have suffered losses for the last three years.
• The reinvestment coefficient is negative in the seven analysis firms, indicating that production has declined instead of increasing. If such a situation persists between 2019 and 2020, the mass dismissal of staff will begin;

Based on the research are elaborated the following recommendations:

- Complete and regular financial analysis by enterprise management;

- Factor models of financial stability indicators presented on a regular basis are used by enterprise management to mitigate risks and effectively manage them;

- Establish a tradition of economic science and business collaboration in Georgia through joint practical conferences, seminars and students internships.