In terms of the density of women-owned small enterprises, Atlanta and the entire state came in second. According to LegalZoom, the Southeast actually has all five of the top cities.
According to the research, LegalZoom’s senior director of product advice, Allison DeSantis, stated that women-owned firms are among the small company economy’s fastest-growing segments.
Georgia’s average payroll and workforce size for women-owned small enterprises placed it in the center of the pack.
According to a statement from SBA Southeast Regional Advocate Mike Vallante, Georgia’s small company situation is solid and only going to get better. The entrepreneurial spirit of the locals, a welcoming and varied business environment, and the fact that Georgia draws entrepreneurs from other states where small business laws are too onerous and difficult for their companies to expand and succeed are all contributing causes.
According to SBA data, small business employment increased by 26% between 1998 and 2022, over twice national growth. According to SBA spokesman Lola Kress, Georgia is among the top five states for small business establishment.
A network of support
The Women’s Entrepreneurship Initiative is a program that helps local female entrepreneurs in their early stages by providing them with funding possibilities, alliances, leadership development, and strategic analysis. WEI claims to be the only municipality-funded accelerator of its sort in the country, with support from the City of Atlanta and Invest Atlanta.
WEI was established in 2015 with the goal of reducing some of the obstacles and difficulties that are specific to women entrepreneurs while giving them the resources they need to succeed. Jen Bonnett, vice president of technology and entrepreneurship at WEI, said that 90 alumni have graduated from the program, and their businesses have gone on to generate hundreds of employment.
According to Bonnett, Georgia has long been a fantastic state for women entrepreneurs.
The curriculum emphasizes on fundamental business abilities, such as capital raising, money management, sales, ethical hiring, and more.
“As they embark on their entrepreneurial journey, I’m developing meaningful programs to try and make their lives easier,” Bonnett stated.
A list of further women-focused, small business-supporting programs may be found on the WEI website. The Georgia Minority Supplier Development Council and the Russell Innovation Center for Entrepreneurs are two further organizations in the Atlanta region that assist business owners.
Additionally, Access to Capital for Entrepreneurs, a nonprofit Community Development Financial Institution with its headquarters in Georgia, has the Women’s Business Center. In order to support small businesses through financial education, the WBC has provided coaching, training programs, and other services to thousands of clients.
Links to resources for networking, finance, certification, and other help are also available on a state website.
According to Bonnett, Georgia has dominated the market for women-owned small businesses for a period of years, but the numbers have remained unchanged. A pushback against Diversity, Equity, and Inclusion measures is also hurting some programs for minorities and women.
Women who wish to get into Georgia’s small company market should network at local or online events, according to Bonnett.
“I think we need to step in and make sure we’re taking care of each other more than ever right now,” Bonnett added.
The Atlanta Journal-Constitution has launched a new series called AJC Her+Story that highlights female leaders, professionals, innovators, and artists. The goal is to create a community. Do you know of somebody the AJC ought to highlight in AJC Her+Story? Send us an email with your recommendations at [email protected]. Visit ajc.com/herstory to view all of our coverage of AJC Her+Story.
