Within recent years, there has been an explosive boom in the amount of entrepreneurship taking root in Atlanta. According to US census data, Atlanta is the third fastest growing city in America with more than 278,000 registered businesses.
With African American women leading the charge as the fastest growing group of business owners, the draw towards entrepreneurship is present in all age groups and communities.
For those who desire to be apart of the 2019 class of Atlanta business start-ups, The Atlanta Voice has compiled four steps to get you started. While these tips may seem simple, many would-be entrepreneurs don’t make it past the first step.
Create a business plan.
The City of Atlanta has a multitude of resources to help new businesses.
However, every resource we found requires that you file a business plan as part of the application to join their business accelerator programs.
A business plan is a document that outlines all aspects of your business model.
The US Small Business Administration has a step-by-step online tool to help you create your business plan.
Join a business accelerator.
The best way to ensure that your business will thrive is by engaging directly with city government and the business community.
Your first stop should be Invest Atlanta, which is the “official economic development authority for the City of Atlanta.” They have programs that cover all types of business from online to brick-and-mortar.
Georgia Institute of Technology (GA Tech) also has a well-known business accelerator program that will provide you with tools to succeed in your new business.
Register your business name and get an employee identification number.
Once you have a business plan and you have joined a business education program, you’ll need to register your business name.
You will also acquire an employee identification number (EIN) from the IRS. Registering your business can be completed online at with the Georgia Secretary of State’s Corporate Division.
Acquiring your EIN is also a straightforward online process over at the IRS website.
Learn about business law, taxes, and permits.
The last steps in starting your business involve paying taxes, getting the proper permits, and understanding employment law.
You will be required to pay state, local, and federal taxes if you operate your business in Atlanta. Depending on the type of business you are in, you will be required to obtain permits from the City of Atlanta.
Lastly, in order to best serve your employees and customers, you will need to understand basic employment law. You will also need to understand how local and state laws affect your business.
The Georgia Department of Labor has compiled the information you will need on their website.
Are you planning on starting a business in Atlanta in 2019? We want to hear from you. What are your greatest challenges? What makes Atlanta a great place to start a business? Tell us your story by contacting our editorial staff via email at firstname.lastname@example.org or share in the comments below.