Georgia

Georgia Small Business Facts   Level in % Change from   2005† 2004 2000 Number of Businesses       Small employers (<500 employees) 173,804 3 11.1 Large employers (500+ employees) 3,751 1.5 -4.6 Nonemployers 657,318 7.6 40.3   Level in % Change from   2002† 1997   Business Owner Demographics       Male-owned 395,156 20.3   Woman-owned 196,195 34.8   Equally male/female-owned 64,669 -21.9   African American-owned 90,461 62.2   Asian-owned 26,925 49.9   Hispanic-owned 18,310 55.9   Native American/Alaskan-owned 4,453 NA   Hawaiian and Pacific Islander-owned 176 -12.4     Level in % Change from   2007† 2006  2000 Workforce (Thousands) /Unemployment (%)     Private-sector employment 3,471 1.3 3.6 Government employment 676 1.9 13.2 Self-employed (incorp. & uninc.) 491 2.5 22.9 Female self-employment 163 3.2 16.0 Male self-employment 328 2.2 26.7 Minority self-employment 92 -11.0 23.9 Veteran self-employment 53 -1.3 6.7 Unemployment rate (%) 4.4 -0.2 0.9 Business Turnover       Quarterly establishment openings 64,159 3.0 31.7 Quarterly establishment closings 61,554 1.8 45.6 Business bankruptcies 1,456 26.8 -38.5 Income and Finance       Proprietors’ income ($billion) 27.2 3.4 41.8 Bank branches 2,813 2.6 20.8 No. of bus. loans under $100,000 459,250 35.6 NA Total value of business loans under $100,000 ($million) 5,571 21.7 NA Sources: U.S. Dept. of Commerce, Bureau of the Census and Bureau of Economic Analysis; U.S. Dept. of Labor, Bureau of Labor Statistics; Administrative Office of the U.S. Courts; Federal Deposit Insurance Corporation, Summary of Deposits; and U.S. Small Business Administration, Office of Advocacy (archive.sba.gov/advo/research/lending.html). † Latest available data; certain figures are economywide.

Georgia's 831,122 small businesses provide economic opportunities to diverse groups of people and bring innovative products and services to the marketplace.* This profile from the Office of Advocacy compiles the latest facts and figures on the status and role of small business in the state. (Note that a small business is defined here as one with fewer than 500 employees.) ·   Georgia had 173,804 small employers in 2005, representing 97.9% of the state’s employers and 46.4% of its private-sector employment. ·   The accommodation and food services industry was the state’s largest small business employer in 2005; retail trade was the largest overall employer (Table 1). ·   Small businesses created all of the state's net new jobs from 2004 to 2005 (Table 2). ·   Georgia's real gross state product increased by 2.8% in 2007. By comparison, growth in the Southeast region was 1.5% and the United States, 2.0%. (Source: U.S. Dept. of Commerce: Bureau of Economic Analysis) For Further Information ·   Data on all the states and territories is available at archive.sba.gov/advo/research/profiles. ·   For other small business data and analysis, visit archive.sba.gov/advo/research, call (202) 205-6533, or email advocacy@sba.gov. ·   To learn about state efforts to adopt or implement regulatory flexibility, visit archive.sba.gov/advo/laws/law_modeleg.html. ·   Visit http://web.sba.gov/list to subscribe to listservs for Advocacy’s newsletter, press releases, regulatory news and research reports. ·   Visit archive.sba.gov/advo/rsslibrary.html for RSS feeds.   * The number of small businesses is the number of small employers plus the number of nonemployers in 2005.