Georgian Business Association hopes to improve business climate
Despite the economic crisis and difficulties that have developed in Georgia because of the coronavirus pandemic, business is optimistic, according to a study by the Business Association of Georgia (BAG).
The Business Association of Georgia was founded in 2009 and unites more than 70 leading companies of the country: banks, gas station chains, pharmacy chains, construction companies, communications companies, as well as large supermarket chains.
According to the study, in the first quarter of 2021, compared to the previous fourth quarter of 2020, the business climate index, which is a combination of the current state of the business and expectations, improved significantly.
During this period, representatives of the Association's member companies improved their assessment of both the current situation and expectations.
Despite the improvement, the current situation remains negative. At the same time, the business maintains positive expectations, which have significantly improved — by 34 points.
In the study, BAG member companies are divided into four sectors: trade, services, industry, and construction.
In the first quarter of 2021, the BAG business climate indicator is positive for all sectors except construction. This is due to a negative assessment of the current situation in the construction sector. The current situation is also negatively assessed by the trade and services sectors. However, it should be noted that in the first quarter of 2021, compared to the fourth quarter of 2020, the assessment of the current state of the business improved in all sectors except construction.
In the first quarter of 2021, business expectations for the next six months are positive for all sectors. During this period, particularly optimistic sentiment was observed in the services and trade sectors, which should be associated with the gradual easing of restrictions imposed at the end of 2020.
Employment Barometer
A year ago, 80% of construction companies planned to cut workers, but today none of them plan to do so.
In addition, 28.9% of the surveyed companies believe that in the second quarter of 2021, compared to the first quarter of 2021, they will increase the number of employees, and 9.6% think that they will reduce them. Most companies — 61.5% - are not going to change the number of employees.
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Georgian Business Association hopes to improve business climate
Despite the economic crisis and difficulties that have developed in Georgia because of the coronavirus pandemic, business is optimistic, according to a study by the Business Association of Georgia (BAG).
The Business Association of Georgia was founded in 2009 and unites more than 70 leading companies of the country: banks, gas station chains, pharmacy chains, construction companies, communications companies, as well as large supermarket chains.
According to the study, in the first quarter of 2021, compared to the previous fourth quarter of 2020, the business climate index, which is a combination of the current state of the business and expectations, improved significantly.
During this period, representatives of the Association's member companies improved their assessment of both the current situation and expectations.
Despite the improvement, the current situation remains negative. At the same time, the business maintains positive expectations, which have significantly improved — by 34 points.
In the study, BAG member companies are divided into four sectors: trade, services, industry, and construction.
In the first quarter of 2021, the BAG business climate indicator is positive for all sectors except construction. This is due to a negative assessment of the current situation in the construction sector. The current situation is also negatively assessed by the trade and services sectors. However, it should be noted that in the first quarter of 2021, compared to the fourth quarter of 2020, the assessment of the current state of the business improved in all sectors except construction.
In the first quarter of 2021, business expectations for the next six months are positive for all sectors. During this period, particularly optimistic sentiment was observed in the services and trade sectors, which should be associated with the gradual easing of restrictions imposed at the end of 2020.
Employment Barometer
A year ago, 80% of construction companies planned to cut workers, but today none of them plan to do so.
In addition, 28.9% of the surveyed companies believe that in the second quarter of 2021, compared to the first quarter of 2021, they will increase the number of employees, and 9.6% think that they will reduce them. Most companies — 61.5% - are not going to change the number of employees.
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