Georgia is one of the most attractive investment destinations in America, recent surveys have indicated. Georgia boasts of having more than 1 million businesses accounting for 99.6 percent of all the businesses in the state. The business sector employs more than 1 million residents, which is essentially more than 43 percent of the total number of employed people in the Peach State. While Georgia is home to some of the nation’s leading businesses such as Coca-Cola and UPS, it is still friendly to small and medium-sized businesses. With the proliferation of the tech industry coupled with a vibrant entrepreneurial community and ease of doing business, Georgia provides an attractive environment for small businesses to thrive.
Benefits of Doing business set up Georgia , although the recovery from the 2008 global recession has been a slow pace, pundits say it has remained steady. Georgia’s Gross Domestic Product (GDP) grew by 2.6 percent in 2018 which was 2.9 percent lower than the nation’s average. Despite this not-so-good indicator, the economic health of Georgia remains comparatively good. No doubt it is ranked as the nation’s 9th largest economy that boasts of being $600 billion annually. The fact that the unemployment rate has been on a downward trend means that average incomes per household have increased significantly. The ripple effect of this trend is that businesses are able to thrive amidst an economy that is not only stable but also projected to grow even bigger.
The future of the business sector in Georgia is bright, entrepreneurs and advisors have said. Experts and business people have cited the friendly business environment, supportive state, and federal laws as some of the enablers that will continue to make Georgia a focus by many local and foreign investors. Traders are able to access capital and this being one of the major factors that determine the attractiveness of an investment destination, Georgia is then an attractive center for doing business.
Georgia also boasts of a range of geography that has the ability to support different lifestyles and offer opportunities for different businesses. So, whether you are interested in rural or urban areas, Georgia has everything you will need to invest in a profitable business. After all, even the rural areas have shown immense resilience with huge market potential capable of driving sales.
Of course, like in many other places around the world doing business is not a bed of roses. There is a fair share of challenges that you can expect to navigate. For example, you will need to stay abreast with the tax regulations and compliance issues in order to avoid legal issues that might arise. If you are not quite clear how to go about starting a business, consult a business set up Georgia expert to help you put together all the requirements necessary for operating a business in Georgia.
