Key benefits of starting a small business in Georgia
According to the Georgia Department of Community Health, Georgia is ranked #1 within all 50 states as the place for business. Let’s look at some of the reasons why.
So what are the benefits of starting a small business in the state of Georgia? Not only are there an amazing number of resources available for entrepreneurs launching a new business and businesses looking to relocate to the Peach State, but newcomers are welcomed with that warm Southern hospitality.
If Georgia is on your A list for starting a small business, here is what you need to know to move Georgia to that coveted first position.
Clearcut definition of small business in Georgia
One of the things that frustrates entrepreneurs when seeking great locations for a new small business would be how difficult it can be to define what constitutes a small business in various states. This is not the case in Georgia because new laws passed in 2021 define small businesses as having 300 or fewer employees and total annual revenue at $30 million or less. However, they break it down even further.
This is important, for example, if you are wondering if you need to purchase Georgia workers compensation. You can look at all three tiers within that definition of small businesses to see where your company will fit in and that is your starting place for the kinds of insurance you will need to carry, of which Georgia workers compensation is but one.
Emphasis on equity, diversity and inclusion
This is something else you might not expect in one of the traditionally labeled “conservative states.” Georgia is extremely proud to have launched their Diversity in Entrepreneurship with a focus on women, veterans, youth and minorities of all kinds. This is vital in today’s business landscape because consumers are, to put it plainly, fed up with the Good Old Boy system and the status quo.
The only way to grow our economy is through innovation, and Equity, Diversity and Inclusion is the true path to innovation. To put it another way, innovation is fueled by the diversity of input from all cultures and walks of life. If you are looking for a state ripe for growth, it would be Georgia.
Free resources available online
Finally, there is one other key touchpoint when considering Georgia to launch your new small business. There are several free resources listed on the Georgia Department of Administrative Services websites with links to free resources offered by such prestigious institutions as the Georgia Institute of Technology, Georgia Tech.
In fact, opening a business in any state can be a daunting prospect but with free resources available online and clearly listed contact numbers on each site, you are not left floundering in the dark. The key to success is always rooted in being well informed, and that’s something Georgia is proud to offer – the right information for all your business needs.