Atlanta is quickly becoming a popular place for entrepreneurs looking to start a tech company. The low cost of living and doing business, along with available resources, are attracting business owners in the technology industry. Currently, our city does not even rank in the top 10 for tech start-ups, but many here are determined to change that. As more entrepreneurs are choosing Atlanta as the place to start their companies, they may benefit from getting assistance with business formation.
Currently, Atlanta ranks 12th nationally for tech start-ups, with 54 companies formed in 2012. There are currently over 360 tech start-ups in the area. Local entrepreneurs believe that if one of these, such as a software company, really takes off, Atlanta can move up in the national rankings. While a few local tech companies were well-known in the past, they have since been acquired by companies located outside of Georgia.
One advantage that Atlanta has is the number of Fortune 400 companies. Many tech entrepreneurs in the area are looking to work with large firms. Those who can offer a useful solution to these large companies may get their foot in the door a bit more easily. Some tech start-ups are taking advantage of the city’s numerous medical providers to tap into the needs of health care professionals and patients.
While there are many things about our city that make things easy for entrepreneurs, there is not a lot of venture capital. Still, the number of tech start-ups is growing, and their founders would do well to ensure that they go through all the proper business formation procedures. Having a good foundation and a solid business plan, in addition to brilliant ideas, can help set Atlanta entrepreneurs up for success.
Source: USA Today, “Atlanta is ‘Hotlanta’ for tech start-ups,” Jefferson Graham, Feb. 13, 2013