Discover Georgia, USADiscover Georgia, USADiscover Entrepreneur & Small Business Discover Entrepreneur & Small Business

November 2009November 2009

Great Business EnvironmentGreat Business Environment

• 1st in workforce training

• 1st in fiscal policies

• 1st in entrepreneurship

• 3rd in business climate

• 4th most Fortune 500

company headquarters

• 5th best state for

business

• 7th most pro-business

• 7th best cost of labor

• 7th best state for

biotech industry

Why is Georgia #1 in Entrepreneurship?Why is Georgia #1 in Entrepreneurship?

GA experienced the greatest entrepreneurial activity over the last decade

GA: 590/100,000 adults created a business each month Metro Atlanta: 740/100,000

Reasons? 1) Start up capital 2) Overall economic growth 3) “Entrepreneur Friendly” 4) Increased entrepreneur education for youth

Entrepreneurship in GAEntrepreneurship in GA

Direct Services to Companies Company Calls Capital Centers of Innovation Incubators Export & Trade Education Interactive Tools R&D Tax Credits

Business-to-Business Supplier Match Mentor Protégé GA Made GA Grown Film/Entertainment Military

Indirect Services Through Local Communities “Entrepreneur Friendly” Initiative Interactive Tools Associations

Entrepreneurship in GAEntrepreneurship in GA ESB Coordinating Network – state & federal ESB Coordinating Network – state & federal resource providers resource providers

Access to capital

Entrepreneur education

ESB resource awareness

Who was doing what?

How to reach out? Educate?

Minority partnerships

OneGA ESB Loan Guarantee

Inventory database: all schools

Created new website

Cross Training / Marketing

65/1 - “Entrepreneur Friendly”

Dedicated staff

Entrepreneurship in GAEntrepreneurship in GA

Small Business Call Program 0 – 19 employees / growth companiesConnect to state & federal resourcesWeb optimization

Statewide Economic GardeningMarket research data / SBDC partner

“Entrepreneur Friendly” InitiativeDevelop a local culture that supports

entrepreneurs and small businessesInclude ESB in local economic

development strategic plan

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

HOW TO REACH ALL BUSINESSES TO CREATE RESOURSE AWARENESS THROUGHOUT THE STATE?

Revamped existing Regional Program focusDepartment can’t reach all businesses…

… but smarter communities can

Developed “Entrepreneur Friendly” Initiative

- Year One: ~ visited 159 counties~ gauged need/desire for ESB development

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

RECOGNIZE ECONOMIC DEVELOPMENT WHEN YOU SEE IT!

Players: • faith-based• medical• minority• education• youth• businesses

• military • recreation/ag

• governments

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

What we found . . . Business education

(#1 marketing, #2 sales, #3 finance)

Skilled workforce (#1 work ethics, #2 soft skills & professionalism)

Resource awareness (why don’t I know about them??? Just for me!)

Surprises . . . Creative thinkers

Not aware

Shop at home – promote us

No time to take classes

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

As a result…. 100% of EF communities have created an ESB

Resource Guide and How to Start of Business Guide 100% have hosted at least one ESB Resource

Fair/Expo 95% of the EF communities

are providing small business educational workshops

Five have created dedicated, comprehensive Resource Centers

25% developed new youth programs

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

As a result … new partnerships Small Business Development Center (SBDC) created a Max Series of business education courses & tools for all EFs

OneGeorgia created a grant program to encourage sustainable ESB support efforts (after year two)

Technical College System of GA enhanced certificate programs; added more youth camps

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

More of what we’re seeing . . .

• Increase in corporate local spend (top 25)• Jr. Achievement: finances, credit, ID theft• Business courses w/med school classes• Inventors network• Social networking / new media• Young entrepreneur networks

• Mentoring• Comprehensive ‘buy local’• Improved tracking• New networking forums• Improved business-to-government • Improved licensing process / resources

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

90% of what entrepreneurs learn, they learn from _______ ???

~ ~ ~ ~ ~ ~ ~ ~

_______% of 9th graders want to start their own business;

by 12th grade, ________% still want to.

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

What we are seeing with our youth . . .

“C” students / At Risk / Alternative Schools

E Camps at middle & high schools

Youth business plans

K-12 entrepreneurial product development

Youth enterprises at First Fridays

GeorgiaREAL

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

School & Community . . . Identify gaps - tell schools what’s needed

- encourages ideas - make it happen at home - recession inventions

Youth leadership - entrepreneur / business project

Youth enterprises at community events - themed / festivals / expos

Business plan competition - real life wants & wishes

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

81% of Georgia designated Entrepreneur Friendly

129 out of 159 counties

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

“Entrepreneur Friendly” continues… Overall economic development strategies

Value-add: Identifies innovation/creativity & addresses challenges Facilitated strategic planning: puts words to action:

brainstorming re-energizingnew directionnew leadershipnew economynew ideas

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiativeEFII includes continuous post-designation

support: Professional development (2x year)

Entrepreneur Summit (Governor, Network)

Trade missions, marketing events EFIF grant projects

Best practices marketing & information sharing

Speaking engagements

‘Hot off the Press’ news, resources, business opportunities

Georgia’s “Entrepreneur Friendly” Georgia’s “Entrepreneur Friendly” InitiativeInitiative

Foster an entrepreneurial culture and non-traditional thinking

Are my ESB programs going to support my entrepreneur & small businesses long term?

Do I really know where to send someone? Do they even know we have resources?

If the state wasn’t involved, would I do this anyway?

Georgia Department of Georgia Department of Economic DevelopmentEconomic Development

Nobody talks of entrepreneurship as survival , but that's exactly what it is and what nurtures creative thinking!

. . . Anita Roddick

All people are entrepreneurs, but many don't have the opportunity to find that out. . . . Muhammad Yunus

Thank you!! Mary Ellen McClanahan Director, Community & External AlliancesGeorgia Department of Economic Development

404.962.4820 memcclanahan@georgia.org

www.georgia.org/smallbusiness