Before deciding to start a business in the United States, carefully analyze the advantages and disadvantages each state offers. Those with high credit ratings are attractive, which is why at Hispanic Entrepreneurs we'll tell you why you should open a business in Georgia.
The goodness of Georgia
This state is located in the southeast of the United States territory. It borders Tennessee, North Carolina, South Carolina, the Atlantic Ocean, Florida, and Alabama. It has a rich history from the civil war and a calm climate in winter.
It also boasts attractive natural sites to visit, such as Stone Mountain and national parks like Amicalola. Housing is affordable, and a significant percentage of the population is Hispanic or Latino . It's known as the Peach State for its extensive forests of pine, magnolia, and peach trees.
Its cities and rural areas have experienced remarkable economic growth even in pandemic. These characteristics make it ideal for living, but beyond what it offers?
Why open a business in Georgia?
It has long maintained a high credit rating. It is home to major multinational corporations such as Coca-Cola, Equifax, and UPS . These companies work with the government and universities to attract entrepreneurs.
It also has a group of incubators and accelerators that support technology and information in startups.
Georgia Tech supports the incubators of AT&T, Cisco, and Coca-Cola, and the Savannah College of Art and Design supports Gulfstream's. The Hispanic Chamber of Commerce, with over a thousand members, is also based in the region. Furthermore, it provides a positive ecosystem for startups.
The cost of living is lower than the national average and skilled labor is proliferating. Various sectors generate business opportunities. Aerospace, food processing, automobile industry stand out. As well as the manufacture of metals, technology area, bioscience, energy, digital media, fintech, entertainment software, among others.
Opening a business in Georgia means having an international presence, as it has over 3,000 plants serving more than 50 countries. Thanks to its airport, four ports, and the most extensive transportation network in the country, it is one of the largest exporters.
It should be noted that its ports include Savannah, the fourth largest in the USA. In addition, it has distribution centers for companies such as Ikea, Heineken and Target- These factors make it an important nucleus of the global economy and a mecca for business in the northern hemisphere.
Real estate experts consider this state a great investment opportunity . Moreover, it's a constantly growing tourist destination. It was even named by Travel + Leisure as one of the top 50 travel destinations. In addition, the airport in its capital, Atlanta, is the busiest in the world.
Let's not forget that Area Development indicated that it was chosen as the best state to do business in 2021 for the eighth time in a row. While, according to the WalletHub analysis, it is the second best state in the USA to start a business in 2021. The study of the latter was based on the business environment, access to resources and business costs.
SUBSCRIPTION open a business in Georgia
Entrepreneurs in Georgia, beyond having a beneficial environment for business, have a favorable tax climate.
The state offers incentives such as tax credits for businesses wishing to establish themselves within its borders . A new business may benefit from exemption from local property tax. If located in the business zone, it will enjoy reductions in occupancy taxes, inspection fees, regulatory fees, and other charges.
Furthermore, it offers additional assistance for women, veterans and minorities. Likewise, the government encourages young entrepreneurs with the granting of resources to children and adolescents.
So there are many resources for small business owners. Focus your gaze on cities like Atlanta, Savannah, Macon, but also Dalton, Waycross, Doraville, Alpharetta and LaGrange. Keep in mind that in Georgia, a small business is considered to be one that receives less than $ 30 million in gross revenue per year. Or the one with fewer than 300 employees.
Governor Brian Kemp assured that they will continue working to provide more jobs and opportunities. This was said during the inauguration of Amazon's robotics installation in October.
"Thanks to our nation's leading workforce development efforts, resilient job creators and a business-friendly environment, Georgia is emerging from the global pandemic with unprecedented economic momentum," Kemp told the media.
This assertion is backed up by the numbers. In the last fiscal year, Georgia set records . It registered nearly $11 billion in new investments, a 46% increase compared to 2020. Additionally, 33.439 jobs were created, exceeding the previous figure by 5%. This demonstrates that this region has a competitive business environment and workforce for starting a business.
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