Why women-owned small businesses are booming in Atlanta

Atlanta and the state as a whole both ranked No. 2 for density of women-owned small businesses. In fact, all of the top five cities are in the Southeast, LegalZoom found.

“Women-owned businesses are one of the fastest-growing segments of the small business economy,” Allison DeSantis, LegalZoom’s senior director of product counsel, said in the report.

Georgia was in the middle of the pack for number of employees and average payroll for women-owned small businesses.

“The state of small business for Georgia is strong and only getting stronger,” SBA Southeast Regional Advocate Mike Vallante said in a statement. “Contributing factors include a combination of entrepreneurial spirit of the people who live there, a favorable and diverse business climate, and Georgia attracts entrepreneurs from other states where small business regulations are too onerous and challenging for their businesses to grow and thrive.”

From 1998-2022, small business employment grew by 26%, almost doubling national growth, according to SBA data. Georgia is a top-five state for small business establishment, according to SBA spokesperson Lola Kress.

A network of support

The Women’s Entrepreneurship Initiative is a program supporting local early-stage female entrepreneurs in strategic analysis, leadership development, partnerships and funding opportunities. Supported by the City of Atlanta and Invest Atlanta, WEI says it is the nation’s only municipality-funded accelerator of its kind.

WEI was founded in 2015 to provide local female business owners with the tools for success, “while minimizing some of the challenges and roadblocks unique to them as women.” The program has 90 alumni, whose companies have gone on to create hundreds of jobs, according to Jen Bonnett, WEI’s vice president of technology and entrepreneurship.

“Georgia’s always been a great place for women to start businesses,” Bonnett said.

The program focuses on cultivating basic business skills, like raising capital, money management, sales, good hiring practices and more.

“I’m creating meaningful programs to try and make their lives easier as they go on their entrepreneurial journey,” Bonnett said.

WEI’s website includes a list of other women-focused, small business-supporting initiatives. Other groups in the Atlanta area supporting entrepreneurs include the Russell Innovation Center for Entrepreneurs and the Georgia Minority Supplier Development Council.

There’s also the Women’s Business Center from Access to Capital for Entrepreneurs, a nonprofit Community Development Financial Institution based in Georgia. The WBC has served thousands of clients with coaching, training series and more to support small businesses through financial education.

A state website also provides links to support resources for certification, financing, networking and more.

Georgia has been dominant in the women-owned small business space for several years, but the numbers have been stagnant, according to Bonnett. Some programs for women and minorities are also taking a hit from a backlash against Diversity, Equity and Inclusion initiatives.

Bonnett advises women who want to enter Georgia’s small business space to get involved by networking at local or online events.

“I feel like right now more than ever we have to step in and make sure we’re taking care of each other,” Bonnett said.

AJC Her+Story is a new series in The Atlanta Journal-Constitution highlighting women founders, creators, executives and professionals. It is about building a community. Know someone the AJC should feature in AJC Her+Story? Email us at herstory@ajc.com with your suggestions. Check out all of our AJC Her+Story coverage at ajc.com/herstory.