In Focus: Some schemes, initiatives & grants available to women entrepreneurs in Georgia
#WomenInBusiness #GeorgiaEntrepreneurs #PeachStateSuccess
Georgia, affectionately known as the ‘Peach’ State, is celebrated for its agricultural bounty, cultural heritage & rapidly growing film industry. Beyond its fame for peaches, Coca-Cola, and hosting the busiest airport globally, Georgia has indeed, emerged as a thriving hub for women entrepreneurs. The state’s economy, ranking 9th in size among U.S. states and Washington, DC, reflects its robust business environment.
Georgia offers a rich tapestry of history, music, adventure & cultural attractions, making it an appealing locale for business and lifestyle. In 2023, Georgia earned the prestigious rank of No. 1 state for business by Area Development magazine for the tenth consecutive year and currently holds the No. 4 spot in America’s Top States for Business in 2024. This favorable business climate has propelled the rise of women entrepreneurs across the state.
Georgia’s Business Landscape: Empowering Women Entrepreneurs
Women-led businesses in Georgia are making significant strides, supported by various state initiatives, funding opportunities & a strong network of entrepreneurial resources. From tech startups to innovative agribusiness ventures – women entrepreneurs are breaking barriers and driving economic growth. As Georgia continues to nurture its dynamic business landscape, the Peach State stands as a beacon of empowerment and opportunity for women entrepreneurs.
Let’s examine the schemes, initiatives and grants available to women entrepreneurs in
Georgia.
> The Women’s Entrepreneurship Initiative (WEI)
Here the process is fixed. It is through a competitive selection process, a group of women entrepreneurs are selected to “incubate” their business at the Women’s Entrepreneurship Initiative (WEI) – in a technologically advanced environment, designed to foster business growth and sustainability. Through an ecosystem of educational resources, access to funding assistance, and mentorship, the women entrepreneurs will grow their businesses over the course of 15 months, and then transition the business back into Atlanta at the end of that period.
To elaborate, WEI will provide the selected businesses with the following tools:
– Use of the center’s innovative work space as a business incubator
– A network of expert, seasoned mentors and consultants from the business and entrepreneurship; communities serving in an advisory board capacity
– Refinement of business plans
– Marketing and branding identification and strategic development
– Targeted financial education
– Legal advice and planning assistance
– Measurable business growth and progress metrics
– Post-transition support to reinforce business longevity and success, once back in the community
https://www.investatlanta.com/businesses/startups-creatives/womens-entrepreneurship-initiative
> YES-Georgia program
To reflect its increased focus on empowering women entrepreneurs, USAID/Georgia had announced the expansion of the YES-Georgia program. YES-Georgia was the only program in Europe and Eurasia – to be selected by the U.S. government’s Women’s Global Development and Prosperity (W-GDP) Initiative and will receive $ 840,000 in new USAID funding. The program will expand its focus on supporting women, launching new activities designed to meet the needs of women entrepreneurs. Through 2024, YES-Georgia plans to provide more than 2,500 women with business management training, access to legal and accounting services, and mentoring and networking opportunities.
https://ge.usembassy.gov/yes-georgia-launches-to-support-youth-and-women-
entrepreneurship-january-31/
> Women’s Entrepreneurship Initiative (WEI)
Launched by the City of Atlanta, the Women’s Entrepreneurship Initiative (WEI) offers a comprehensive support system for women entrepreneurs.
The initiative provides a number of facilities – access to workspace, business coaching, educational workshops, and funding opportunities specifically designed to empower women business owners. WEI’s commitment to fostering female entrepreneurship in Atlanta is evident through its success stories & the growing community of women it supports.
https://www.investatlanta.com/businesses/startups-creatives/womens-entrepreneurship-
initiative
> Women’s Entrepreneurial Opportunity Project (WEOP)
WEOP focuses on providing – education, training & resources to women entrepreneurs from underserved communities in Atlanta.
By offering workshops on business planning, financial management, and marketing strategies, WEOP empowers women to turn their business ideas into reality. Additionally, WEOP collaborates with local partners – to facilitate access to capital and markets, ensuring that women-owned businesses have the support they need to grow and prosper.
> SCORE Atlanta
SCORE Atlanta, part of the national SCORE organization, offers free business mentoring and low-cost workshops to entrepreneurs – with a significant focus on supporting women in business.
The organization’s volunteer mentors, experienced business professionals & entrepreneurs provide – valuable guidance, insights, and support to women starting or growing their businesses. SCORE Atlanta’s commitment to women entrepreneurs is evident in its tailored mentorship programs and resources – designed to address the unique challenges faced by women in business.
> Access to Capital for Entrepreneurs (ACE)
Access to Capital for Entrepreneurs (ACE) is a non-profit organization that provides – loans and business development resources to women and minority entrepreneurs in Atlanta and across Georgia.
Recognizing the challenges often faced by women in securing financing, ACE offers a range of financial products plus educational programs on – financial literacy, business planning, and growth strategies. Through its support, ACE is critical in enabling women entrepreneurs to access the capital necessary to launch and expand their businesses.
Georgia Government Agencies
> State of Georgia – Start a Business
The State of Georgia provides all the resources you need to start your business. Their guide to starting a business includes – getting professional advice, making a business plan, selecting a business structure, reserving your business name, registering with the Georgia Secretary of State, getting a Federal Employer Identification Number – EIN, opening a business checking account, registering with the Department of Revenue, registering with the Department of Labor, getting funding, insuring your business, and applying for permits and licensing.
> Georgia Small Business Administration – SBA
The SBA’s Georgia district office provides services including – funding programs, counseling, federal contracting, certifications & disaster recovery. They can also connect you to partner organizations, lenders, and other community groups that help small businesses succeed.
The main office in Atlanta serves all 159 counties across the state.
> Georgia Department of Economic Development – Entrepreneurs and Small Business
The Georgia Department of Economic Development provides entrepreneurs and small businesses (under 300 employees or less than $30 million in gross revenue) – with helpful resources for business owners of all types. They assist you to start, grow, finance, and innovate as well as learn more about managing your business and connecting with other small business owners too.
It also connects women business owners with certification programs and other external resources to help you grow and thrive.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-georgia
Georgia Agencies & Non-profit Organizations
> Southern Crescent Women in Business
Southern Crescent Women in Business is a conglomerate of women-owned businesses and women in business that have come together – mainly to change the economic landscape in the South Metro Area. Southern Crescent WIB was founded by local businesswoman Ariel Shaw.
Southern Crescent Women in Business fosters business relationships to help sustain and grow individual businesses and local economies. Their vision is – to develop key partnerships, deepen business relationships, and provide resources to assist in the growth of women-owned businesses and women in business.
Individual Women in Business chapters include Henry, Fayette, Clayton, and Dekalb counties.
> Greater Women’s Business Council – GWBC
The Greater Women’s Business Council (GWBC) is a non-profit dedicated to women- owned businesses (WBEs). They are home to the Women’s Business Enterprise National Council (WBENC) certification and provide education, resources, funding and innovative networking opportunities with large corporations looking to meet supplier- diversity goals to help you accelerate your business.
The organization supports start-ups through multi-million dollar entrepreneurs planning their succession – and businesses at every growth stage
> Georgia Small Business Development Center – SBDC – at the University of Georgia
The Small Business Development Center (SBDC) provides – tools, training and resources to help small businesses grow and succeed. It is designated as one of Georgia’s top providers of small business assistance. Since 1977, the network of partners has helped construct a statewide ecosystem to foster the spirit, support, and success of hundreds of thousands of entrepreneurs and innovators.
In addition to the primary state office in Athens, there are 18 additional office locations across Georgia.
> Advanced Technology Development Center – ATDC
The Advanced Technology Development Center (ATDC) at Georgia Tech is Georgia’s technology incubator. Founded in 1980,
ATDC has developed a global reputation for fostering technological entrepreneurship from idea to commercial success. Forbes named ATDC to its list of “Incubators Changing the World” in 2010 and 2013, alongside Y Combinator and the Palo Alto Research Center in California.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-georgia
Funding – State and Federal Sources
> U.S. Small Business Administration
Loans, investment capital, disaster assistance, surety bonds, & grants to start and grow
a business as well as to recover from a disaster.
> ACE Loans – Women’s Business Center
As Georgia’s largest small business-focused community development loan fund, ACE catalyzes entrepreneurial growth through financing and education, with a focus on women, people of color, and low to moderate-income business owners.
ACE is a non-profit and community development financial institution (CDFI) that provides capital, coaching & connections to help borrowers create and grow sustainable businesses that generate jobs. They have provided more than $171 million in loans and business advisory services to support 2,300+ small business owners and helped create or save 18,000+ jobs for Georgians.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-georgia
> Startupchicks
Startupchicks provides educational and social events; and, besides that their mission is to connect entrepreneurial women and to grow, inspire and educate women on entrepreneurship as a career/life choice.
This is a community of female tech startup founders, led by female tech startup founders.
> Georgia Minority Supplier Development Council (GMSDC)
Georgia Minority Supplier Development Council (GMSDC) a corporate member-based organization to foster and expand economic opportunities between Minority Business Enterprises (MBEs), corporations and government entities within Georgia.
> Women’s Business Enterprise National Council (WBENC)
WBENC was founded in 1997 to develop a nationwide standard for women-owned business certification. Since then, the organization has grown to become the largest third-party certifier of businesses owned, controlled, and operated by women in the United States and a leading advocate for women-owned businesses in corporate and government supply chains.
Their mission is – to fuel economic growth globally by identifying, certifying, and
facilitating the development of women-owned businesses. They work to accomplish this
by focusing on our CORE platform — Certification, Opportunities, Resources, and
Engagement.
https://www.wbenc.org/about-wbenc/#who-we-are
> National Association of Women Business Owners (NAWBO)
What National Association of Women Business Owners (NAWBO) does is that it guides women entrepreneurs into economic, social and political spheres of power worldwide.
> WomensNet – Georgia
Any woman who wants to explore the local and federal agencies and groups out there that may be able to help her business.
> Atlanta Women’s Network
This is the perfect choice for women who want to be involved in an organization that provides ongoing professional support.
> Barrow County Chamber of Commerce
This resource is excellent for all professional women. While it may be more geared toward business owners, the information contained can be useful to anyone in practically any industry or position.
> The Edge – Women’s Business Center
This group is perfect for any woman in Cobb County looking for additional assistance when it comes to making her small business a success.
> The Atlanta Women’s Foundation
Any woman who needs assistance in taking the next step to building a successful professional career. The group will connect women with appropriate organizations that will give them a leg up.
> Georgia Micro Enterprise Network
This resource is perfect for women who own micro enterprises in Georgia. The opportunities offered by this group are designed to stimulate economic growth and job opportunities for underserved areas across the state.
https://startupsavant.com/womens-business-resources-georgia
> 330 Small Business Grants for Georgia
Grants can be resourced here – to Individuals to start or grow a small business including grants for women, minorities and veterans.
https://georgia.grantwatch.com/cat/13/small-business-grants.html
Avtar Madan
Himanshu
Shree Lahiri
