Discover Georgia, USA Discover Entrepreneur & Small Business November 2009

Great Business Environment 1 st in workforce training 1 st in fiscal policies 1 st in entrepreneurship 3 rd in business climate 4 th most Fortune 500 company headquarters 5 th best state for business 7 th most pro-business 7 th best cost of labor 7 th best state for biotech industry

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 GA Direct Services to Companies Company CallsCapital Centers of InnovationIncubators 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 GA ESB Coordinating Network – state & federal 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 GA Small Business Call Program  0 – 19 employees / growth companies  Connect to state & federal resources  Web optimization Statewide Economic Gardening  Market research data / SBDC partner “Entrepreneur Friendly” Initiative  Develop a local culture that supports entrepreneurs and small businesses  Include ESB in local economic development strategic plan

Georgia’s “Entrepreneur Friendly” Initiative Establish Leadership & Support Increase Community Awareness Enhance Relationships with State & Federal Resources Map Local Entrepreneurs & Resources Visit and Seek Input from Entrepreneurs

Georgia’s “Entrepreneur Friendly” Initiative HOW TO REACH ALL BUSINESSES TO CREATE RESOURSE AWARENESS THROUGHOUT THE STATE?  Revamped existing Regional Program focus  Department 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” Initiative  What Resources??? What’s out there? Where do I send them? Do I even know what I have here at home????  You mean, ASK them?? Do they even want it? Need it?? RECOGNIZE ECONOMIC DEVELOPMENT WHEN YOU SEE IT!  Players: faith-based medical minority education youth businesses military recreation/ag governments

Georgia’s “Entrepreneur Friendly” Initiative 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” Initiative 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” Initiative 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” Initiative 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” Initiative 90% of what entrepreneurs learn, they learn from _______ ??? ~ ~ ~ ~ _______% of 9 th graders want to start their own business; by 12 th grade, ________% still want to.

Georgia’s “Entrepreneur Friendly” Initiative 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” Initiative 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” Initiative 81% of Georgia designated Entrepreneur Friendly 129 out of 159 counties

Georgia’s “Entrepreneur Friendly” Initiative “Entrepreneur Friendly” continues…  Overall economic development strategies  Value-add: Identifies innovation/creativity & addresses challenges  Facilitated strategic planning: puts words to action: brainstorming re-energizing new direction new leadership new economy new ideas

Georgia’s “Entrepreneur Friendly” Initiative EFII 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” Initiative 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 Economic 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 Alliances Georgia Department of Economic Development