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Reason behind small markets disappearing

Reason behind small markets disappearing
Reason behind small markets disappearing

Small markets have lately been disappearing and replaced by branded stores. According to Paata Bayarakhtar, Vice President of the Association of Young Financiers and Businessmen, large branded marketers have more working capital, they offer more products to consumers and have the opportunity to pay with credit cards.

"Commercial banks charge stores a certain fee for their own terminals. The percentage is high which means that small stores are not able to have terminals in their space", Bayarakhtar told Report.ge.

The Vice President of the Association of Young Financiers and Businessmen said the solution would be increasing competition in the banking sector. According to him, today the main contributor to the economy of the country are big business, which means that the economy of the country is not developing well. 70% of GDP in most European countries is formed by small and medium businesses.

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