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ATLANTA, GA, July 25, 2014 /24-7PressRelease/ -- Georgia's government offers a range of incentives to small businesses to make it easier for small businesses, enterprises and entrepreneurs to launch and prosper. The OneGeorgia Authority has partnered with accredited Georgia financial institutions to be able to provide new financial resources and opportunities for business development. This scheme has been designed as the promotion of small businesses will contribute to the growth of Georgia's economy. Small businesses create opportunities to fill local and regional needs and contribute to rural Georgia's economy through the creation of high-skilled jobs and positively enhance quality of life which ultimately leads to economic prosperity for all.
These business incentives have meant that Georgia have earned top rankings in the number of new businesses started and according to the Kauffman Index of Entrepreneurial Activity, Georgia is second in the nation as having the largest increase in entrepreneurial activity in the past decade.
The main incentives Georgia's government are offering are:
Small Business Tax Relief - allowing for faster depreciation equipment where businesses can choose to claim the expense in year one as opposed to over several years.
Angel investor tax credits - encourages early investment in start-up companies. Qualified investors who provide angel funding in 2012 or 2013 can claim income tax credits of 35 percent of their investment with total credits of up to $50,000 allowed per year.
Financing of up to $250,000 - through the Entrepreneurial and Small Business Development Loan Guarantee Program the OneGeorgia Authority and accredited Georgia Financial institutions will provide entrepreneurs and small business owners with access to loans ranging from $35,000 up to $250,000 at competitive interest rates. This exclusive public-private partnership allows any accredited financial institution in Georgia access to these shared-risk loan funds, provided the ESB-funded project is geographically located in one of Georgia's designated ESB Counties.
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