Starting a small business is no small task. The steep learning curve of human resources concerns, tax law, licensing and other regulatory matters can bury small business founders before they even get off the ground. A small mistake on an I-9 form or a slip up in tax reporting can result in huge fines that an emerging business cannot support. For many new business ventures, one person must wear multiple hats to keep all the regulatory plates spinning while also setting up a strategy to make a profit.
However, small business founders in Georgia have an advantage. Based on a survey conducted for 5,000 small business owners across the country, Georgia received the highest grade for overall small business friendliness nationwide.
Small business friendliness measures
The survey took into account how well each state informs potential small business owners of the laws that govern businesses in their state. Instead of simply evaluating the laws on their own, they asked small business owners directly:
- How easy it is to hire new employees
- The friendliness of state and local tax codes
- The friendliness of employment, labor and hiring regulations
- The friendliness of licensing or permit requirements
Small business owners in Georgia consistently rated Georgia’s systems very highly. Georgia received an A or better in every category except for ease of hiring new employees and training programs. Both of those measures received a B grade.
Training programs in Georgia
Many people now recognize the importance of supporting small businesses. Efforts like Small Business Saturday, a holiday that started in 2010 as an attempt to offset the huge purchasing power of Black Friday, underscore the important role that small business play in state and local economies.
Half the battle for many states is distributing information so that people with good ideas receive the necessary support to build a sustainable business model. The state of Georgia, along with the University of Georgia, put together comprehensive and user-friendly guides so that new businesses can get off on the right foot.