News Summary

Atlanta, Georgia, honors National Small Business Month in May, highlighting the essential role small businesses play in economic development. With around 35 million small businesses nationwide contributing significantly to job growth, the Georgia Minority Supplier Development Council (GMSDC) focuses on supporting supplier diversity and small business growth. Notable initiatives like the Georgia Mentor Protégé Connection link small firms with corporate mentors, fostering growth in key business areas. As challenges like rising retail rents emerge, local economic development programs aim to support these vital community enterprises.

Atlanta, Georgia is celebrating National Small Business Month throughout May, recognizing the pivotal role small businesses play in economic growth and community well-being. With approximately 35 million small businesses in the United States, they account for 99.9% of all American companies and have contributed to nearly two-thirds of job growth over the past three decades.

The Georgia Minority Supplier Development Council (GMSDC) stands at the forefront of aiding small business development and supporting supplier diversity within the state. GMSDC’s initiatives contribute over $13 billion in annual revenues through supply chain partnerships, crucial for the vitality of the local economy.

One of the prominent programs offered by GMSDC is the Georgia Mentor Protégé Connection, which links small businesses with established corporate mentors. This initiative is particularly beneficial as it targets growth in various areas such as marketing, strategic planning, and financial management. Alumni of this program frequently include some of the most rapidly growing small businesses in Georgia, recognized nationally and awarded major contracts.

Data shows that GMSDC certified suppliers are categorized into four revenue brackets: Class I (up to $1 million) comprises 59%, Class II ($1 to $10 million) 28%, Class III ($10 to $50 million) 10%, and Class IV (greater than $50 million) 3%. Notably, about 75% of these suppliers engage in partnerships with national and international businesses.

The demographic spectrum of GMSDC suppliers reflects a balanced ownership landscape, where 60% are male-owned and 40% female-owned, with an upward trend for female representation across sectors. Collectively, these suppliers employ 50,000 individuals, thereby stimulating downstream job opportunities.

During National Small Business Month, small businesses in Georgia are encouraged to join town halls addressing essential issues such as access to quick loans, parking shortages, and the impact of rising retail rents. Retail rents in Atlanta rose significantly, from an average of $18 per square foot in 2020 to around $23 in 2023, marking a 28% increase. This spike has put additional strain on local businesses, compelling some to locate to areas with lower rent potential, as demonstrated by La Bodega/Buenos Dios Cafe, which shifted to Sylvan Hills following a proposed rent increase.

In response to these challenges, the economic development authority, Invest Atlanta, offers programs aimed at assisting small businesses in purchasing properties through down payment assistance, thereby helping to alleviate the financial burden of rising rents.

This year, during Georgia Small Business Week 2025, the Georgia Department of Economic Development recognized Maule Air, Inc. as one of five Small Business “ROCK STARS.” These awards highlight innovation, community outreach, and positive impacts among companies with fewer than 300 employees and founded within Georgia. Maule Air has been acknowledged for both its high-quality products and significant contributions to the community since its establishment in 1968.

As National Small Business Month unfolds, Georgia is lighting the path for small business owners by showcasing their economic significance and the various initiatives designed to support their growth. Small businesses remain vital to the state’s economic fabric, and ongoing communal support will be essential to help them navigate the challenges ahead.