Across Georgia, Black-owned businesses are not only as important part of our history, but an essential part of our future. 11,310 of the State’s employer firms are Black-owned business, and employee almost 90,000 Georgians (2020 Annual Business Survey).
In regions like Metro Atlanta, Black-owned businesses are more than double the national average, with new business starts increasing as much as 17% between 2018 and 2020. Snagging metro-Atlanta on Top 3 Spot on SmartAsset Best Places for Black Entrepreneurs this year.
Despite that growth, there is still a disparity in access to capital, contracting opportunities, and other entrepreneurial development opportunities for minority-owned firms. According to the U.S. Department of Commerce, minority-owned businesses are more likely to forgo applying for loans for fear of rejection, less likely to receive them when they do apply, and more likely to pay higher interest rates on business loans compared to their non-minority counterparts.
GrowGeorgia.com launched by the Community & Economic Development team to help reduce those barriers. Grow Georgia is a one-stop location for minority-owned and small firms to find resources that help accelerate their growth.
- Networking organizations
- Fortune 500 supplier-diversity program
- Business coaching, training, and workshops
- Funding programs
- Success stories
- News, events, and updates from partners
During Black History Month our team shared success stories from businesses that are featured on GrowGeorgia.com – from creators, main street businesses, to healthcare. Additionally, highlighting programs committed to strengthening the impact that diverse founders have on powering economic prosperity for all Georgians.
Fortunately, there are too many stories and resources for only one-month! At Georgia Power, we work to add the latest programs and stories year-round.
Visit GrowGeorgia.com to find the resources available to help small businesses in Georgia make history.
If there’s a program or success story you would like us to consider, send us a message today.