Entrepreneurial ventures provide hundreds of thousands of jobs in Georgia for both business owners and employees. Small businesses not only supply principal income for families, but they also meet unique needs for part-time employment, temporary employment, supplementary income, or, particularly for many young people, that first job opportunity. The innovation and creativity that entrepreneurs deliver to the marketplace appear in all types of businesses, and whether high tech or personal services, these engines of economic growth are found in every big city and small town across our state.
The University of Georgia Small Business Development Center (SBDC) is a resource available to help entrepreneurs. As an educational extension program of the University of Georgia, the U.S. Small Business Administration and our partnering institutions (Georgia State University, Kennesaw State University, Clayton State University, Valdosta State University, Georgia Southern University, and the University of West Georgia), the SBDC provides management training and one-on-one assistance to small business owners and prospective entrepreneurs.
Over the past five years, individuals who have sought assistance from the SBDC have created over 1,700 new businesses, added over 12,000 jobs, raised more than $842 million in loan and equity financing and generated over $9 billion in sales. According to the latest impact study, firms that have sought SBDC assistance experienced job growth of 12.8 percent versus the typical Georgia firm which increased employment by only 2.7 percent.
“Small firms and their distinctive offerings provide custom products and services that are otherwise unavailable, are a convenience for residents and visitors to our state and help create the community character and local charm defines our ‘hometowns.’”
We believe in the strength of small business and have produced a report to describe some of the impacts small businesses have in Georgia. Our annual Small Business and Its Impact on Georgia publication provides an overall perspective of Georgia’s small business environment and shines the spotlight on several noteworthy industries. Most importantly, the publication helps illuminate the contributions made by Georgia’s entrepreneurs on the economic well-being of all Georgia citizens.
You can view the publication by using the iframe below, or you can download the 2019 edition here.