The Best Things About Being an Atlanta Business Owner

What Makes Owning a Business in Atlanta So Appealing? 

There are numerous factors as to why Atlanta has become one of the centers for new business. Some of the top factors include: 

• Atlanta’s metro population is the 5th largest in the U.S., with 5.9 million residents.
• Atlanta has more than 150,000 businesses. 
• The metro area continues to attract Fortune 500 and 1000 companies. 
• Atlanta ranks 4th in the number of Fortune 500 companies headquartered within city boundaries, including The Coca-Cola Company, PulteGroup, Delta Air Lines, UPS, and The Home Depot.
• The economy is the 10th largest in the U.S. and the 18th largest globally, with a GDP of $371.83 billion.
• Atlanta ranked 2nd last year for the best business climate. 
• Atlanta has the busiest airport in the country and the 2nd busiest in the world. 
• The city also ranks 13th out of the top 25 U.S. cities where Millenials are flocking for employment. 
• Atlanta’s unemployment rate is 5.4%, which ranks 17th out of 51 for large metropolitan areas. 
• The average household income is around $65K, which remains above the national average of $59K.

“Probably the best thing about being a business owner in Atlanta is the endless opportunity. There are just so many good companies to surround yourself with and to try to gain inroads with to win new business,” said Porchlight Founder and Principal Greg Corey. 

FinTech

Over the past decade, Atlanta has become a hub for financial transactions in the U.S., with 70% of all global sales passing through the city. The top 50 companies in this industry have generated over $72 billion, and they have processed more than $2 trillion annually. It is because of FinTech that Atlanta took on the title of “Transaction Alley.” FinTech succession is due to Atlanta’s smart regulation and civic partnerships between the industry and the government. The Georgia Center of Information Technology supports the growth of this industry by creating connections for firms from the perspective of the state. 

“Atlanta is a hotbed of educational tech institutions, from the Georgia Institute of Technology to the Atlanta-University Center, which encourages entrepreneurship along with innovation,” said Colony Roofers COO Zach Reece. 

Logistics & Supply Chain

With Atlanta having such a busy airport, it makes sense that one of the top industries is logistics and supply chain. Distribution centers are continually opening in both the metropolitan area and beyond. Amazon has been a leader in this industry and has inspired others to do the same, such as Lidl US, which announced its regional distribution center in January 2020. Companies like Roadie, a same-day delivery platform, have worked to revolutionize the industry. With more companies coming to Atlanta and seeking additional ways to revolutionize, this industry is slated to continue growing and defining the area’s landscape. 

“There is lots of opportunity and support [in Atlanta], tons of entrepreneurial groups to get involved in, networking groups, CEO groups, etc…just a heaven for small to midsize companies to do B2B sales,” said Flex HR CEO Jim Cichanski. 

Healthcare Information Technology

The metro Atlanta area is also home to healthcare companies, including the Centers for Disease Control and Prevention, Piedmont Health, and the American Cancer Society. Due to these companies calling Atlanta home, the city has become synonymous with healthcare information technology. This industry leads the nation with more than 225 companies and approximately 30,000 jobs. In addition to these well-known healthcare information technology companies, several startups further push the city’s hold on bioscience and healthcare technology. 

Advanced Manufacturing

Georgia has surpassed the U.S. in 10-year GDP growth with machinery, electrical equipment, and fabricated metals. This industry employs around 270,000 employees and has reached a state output of $61.1 billion. Some of the major companies in this industry are based in Atlanta, including Kia Motors and Delta TechOps. The Georgia Institute of Technology,  a university that calls Atlanta home, also ranks 4th for Best Undergraduate Engineering Programs with Ph.D. programs, following MIT, Stanford, and UC Berkeley. Companies in this industry thrive in Atlanta because of the available talent pool and expertise of potential employees. The advanced manufacturing industry is supported by the Advanced Technology Development Center (ATDC) and the Georgia Association of Manufacturers. 

Television & Film

The television and film industry in Georgia is the largest among all of the states in the U.S. for its vast production of featured films. Atlanta has also become the center of the film industry in the state with companies like Blackhall Studios, Turner, and EUE/Screen Gems. Governor Brian Kemp has worked to ensure a competitive tax credit and works to allow production to finish without government shutdowns, which have become common in California, New York, the UK, and Canada. This industry is valued at $10 billion and is growing as series, like “Stranger Things” and “Ozark,” and films, like the Marvel franchise, are attempting to make up for lost time during the COVID-19 pandemic. When Georgia opened back up, Gov. Kemp put the film industry as a top priority and hopes that Atlanta would be regarded as one of the top contenders rather than the just new city entering the industry. 

In Atlanta, you have more flexibility when building your business. This makes buying a business owner’s insurance policy and other necessary tools for your business possible.

— Imani Francies, USInsuranceAgents.com