Georgian-Israeli Business
10 Basic Business Conduct Standards

1. Local partner represents a country
Any mistakes or omissions in joint business with foreign investors affect credit of the country.

2. Georgia - one more country for investments
As the Eastern Europe is open for investments, investment offers from Georgia shall be more or equally attractive. Or otherwise, there will be other alternative.

3. Hospitality has no effect on business development
Good welcome of investors and hospitality does not effect the size of the share of the investor in the joint business.

4. Do not trust only verbal agreement in joint business
A key role in business plays not an oral agreement with a partner but a signed document. Each party remembers well the words of the other party and often forgets its own words.

5. Pragmatic approach to business is critical and most necessary
Due to differences between business cultures, identifying business with "Me" may abnormally complicate the situation. The situation is possible where the side excepts the quality of your product but not the product itself.

6. Learn terms
"I'll get 10 million" means "I’ll attract 10 million", or "I'll handle a 10 million credit" so do not run and buy expansive cars because there is still a long road to ahead thus this misunderstanding may cause a lot of problems, thus each statement need to be specified.

7. Do NOT promise 100%
Better to use the words "I'll look into it', "I will try to", because if you fail to keep your promise for 100%, the investor may accuse the local partner of bad faith and leave the country.

8. Do NOT blame others
If imported technology failed to meet your expectations it means that the market is not ready yet or you failed to operate the market properly as the same technology operates quite successively in other countries.

9. Do NOT Compare
The price of products is not the value of each component of this product. Price is formed through promotion, marketing, image, country and, finally, quality.

10. Money in Banks
It is wrong to seek a partner just for finances. Unfortunately, due to some differences between business cultures, settling the financial part is not a key to success. If you need only money it can be raised from banks.