Atlanta is known for being the home of large corporations like Coca-Cola and Delta Airlines. In a recently released study by the residential real estate site Home Bay, Atlanta came out on top as the best place to start a business. That’s up from the number five spot it had in the previous study in 2022.
This isn’t just an honorary ranking. It’s backed up by plenty of data based on key metrics for starting and growing a successful business. These include:
- The number of new business applications (the second highest in the U.S. and almost double the national average over the past five years)
- Job growth (about 50% over the national average)
- Low startup operating costs
- A large talent pool
- Over two dozen incubators and accelerators that invest in and provide other help to start-ups
Atlanta is also an especially favorable area for Black entrepreneurs who benefit from a strong community of established business owners.
Why Atlanta start-ups have added advantages for succeeding over the long run
The study noted that the city doesn’t just offer favorable conditions for starting a new business. It says, “Atlanta has a track record of turning startups into stable companies…” It also noted that the big companies are actually an advantage for smaller start-ups because executives in these companies provide valuable networking and learning opportunities for entrepreneurs. Atlanta is home to twice as many chief executives as the national average.
Atlanta Mayor Andre Dickens responded to the ranking with a statement that said in part, “Businesses are started here because they know the power of our talent pool, the strength of our economy and the possibility of growth. We continue to be leaders in making this city the best place in the country to raise a family, and now, start a business.”
All new businesses also benefit from experienced legal guidance through all stages of their start-up operations – from buying or leasing real estate to drafting contracts and employment agreements to securing their intellectual property and much more.