Hotlanta is sizzling with entrepreneurial spirit as the city claims the top spot for the best city to start a business in 2024, according to Home Bay's recent study published in Black Enterprise Magazine. The Georgia capital, known for its vibrant culture and booming economy, took the lead over other American cities in fostering a supportive environment for business creation, particularly in the black community, as mentioned by the City of Atlanta press release.
Mayor Andre Dickens expressed his pride, "Once again, the city of Atlanta is being recognized for our efforts to create an inclusive community that supports strong business growth and development." He emphasized Atlanta's diverse entrepreneurial scene, stating, "We are a city of entrepreneurs, innovators, incubators and thinkers who are helping us to create a city of opportunity for all," in a statement to the press. Atlanta's surge to the forefront of business innovation isn't a light accident; noted was the city's effort to rapidly nurture a robust talent pool and a dynamic economy that continues to outpace the national average.
The leapfrog from number five to the grand number one was propelled by Home Bay's metrics that factored in new business application rates, venture capital investments, and job growth. In particular, the study highlighted that Atlanta has almost double the number of new business applications per capita compared to the U.S. average, standing at a staggering 28.5 per 1,000 residents. This, coupled with a job growth rate of 2.5% which overtakes the nationwide average, positions Atlanta as a beacon for go-getters looking to start fresh enterprises.
Networking and community support stand as pillars for Atlanta's fertile business landscape. Entrepreneurs of color find a strong base in Atlanta, with resources aplenty to help to start, sustain, and scale their ventures. The city's prowess in supporting especially Black-owned businesses can't be overstated, and Home Bay’s rankings reverberate the sentiment that Atlanta isn't just a place to make a living but an ecosystem where entrepreneurs of all walks truly thrive.
