Resources for Entrepreneurs

12 hours ago

Ben Young,

I’ve always preferred to shop at small businesses. The isolation of the pandemic left me longing for the contact I took for granted at the small shops I frequented. And with respect to Fortune 500 companies, small businesses are the backbone of Georgia’s economy and part of the character of its different communities.

Incentives to support small businesses can help address centuries of policies that have isolated minority communities and trapped them in poverty through obstacles to entrepreneurship and employment. In Georgia, the rate for Black, Hispanic and Native Americans living in poverty (approximately 16% to 18%) is nearly twice that of white and Asian people (approximately 9%).

Small business incentives can also help formerly incarcerated people – who are 40% more likely than their non-incarcerated peers to pursue entrepreneurship, according to a study at the Wharton School at the University of Pennsylvania, because their records can prohibit job opportunities.

Georgia is not only the best place to do business; it’s near the top for starting a new business, according to WalletHub. That’s due to low taxes, favorable business policies and the Georgia Quick Start Program through the Technical College System of Georgia. Many TCSG schools have programs to support small businesses, like Atlanta Technical College’s Small Business Center.

Many banks offer incentives. Truist, in partnership with the Local Initiative Support Corporation, offers $10,000 grants to small business owners; Synovus-Pinnacle has a Business Resource Center addressing subjects such as planning, self-compensation and renting vs. buying office space, and Georgia’s Own Credit Union offers downloadable forms specific to small business types such as corporations or LLCs.

Since 2010 Georgia has provided the State Small Business Credit Initiative to provide lending to support small businesses and manufacturers.

Since 2010 Georgia has provided the State Small Business Credit Initiative to provide lending to support small businesses and manufacturers. Federal funds have also played a role. The re-upping of nearly $200 million out of the American Rescue Plan Act of 2021 could provide outreach to very small businesses (less than 10 employees). According to the state Department of Community Affairs, which administers the program, 53% of the funding is directed toward SEDI (Socially and Economically Disadvantaged Individuals).

The Georgia Department of Economic Development provides digital assistance with a guide to other lending resources such as microloans, Georgia green loans and city of Atlanta loans. Cobb County government has entrepreneurship grants (which offer up to $10,000 in support), and the Athens Downtown Development Authority has multiple grants.

The U.S. Small Business Administration offers Small Business Development Centers, Veterans Business Outreach Centers and Women’s Business Centers throughout the state, and it runs SCORE, which provides regional mentoring networks to small businesses. The SBA also provides a $1 billion Early Stage Innovation Fund. And the Small Business Innovation Research program coupled with the Small Business Technology Transfer initiative – which is for companies that partner with universities or nonprofit institutions – provides $4 billion annually to small businesses nationwide.

Relief is available for small businesses that sustained losses caused by drought beginning in September 2025, with loans of up to $2 million available through the SBA. Its Economic Injury Disaster Loan program is available in more than 70 Georgia counties impacted by drought, for small businesses, small agricultural cooperatives, nurseries and other entities with financial losses. The loans are available for needs caused by the disaster even if the business did not sustain physical damage and can be used to pay fixed debts, payroll, accounts payable and other bills. (The deadline to apply is August 31.)

The Appalachian Regional Commission, which covers 13 states including Georgia, has invested more than $112 million from 2018 to 2022 in projects that strengthened entrepreneurship. In fiscal year 2025 it provided $19 million in funding, created or retained 13,600 in jobs and launched or improved 5,200 businesses in the region. Investments support ventures in high-growth sectors such as manufacturing, technology, health, the arts, recreation and tourism, local food and agriculture and energy. In Georgia that has translated into 333 jobs in 37 northern counties and the leveraging of $832 million in private investment in FY 2025.

There are challenges at every level facing small business owners today, but for those willing to dive into these resources, there are opportunities as well. Think global and shop local.