Atlanta named No. 1 Best City to Start a Business in 2024
ATLANTA—The City of Atlanta has been named as the top city to start a business in 2024 by Home Bay and recognized in Black Enterprise magazine, the city announced in a new release. Cited for low operating costs, a large talent pool and a strong community of Black entrepreneurs, the latest acknowledgement comes after the Atlanta metro The City of Atlanta has been named the top city to start a business in 2024 by Home Bay and recognized in Black Enterprise magazine. The recognition was attributed to low operating costs, a large talent pool, and a strong community of Black entrepreneurs. This follows a recognition by LinkedIn for the Atlanta metro area as the Best Place to Start Your Own Business in 2024. Home Bay conducted a study on various metrics including new business applications, venture capital investment, and job growth. Over the past five years, Atlanta has the second-highest number of new business application with 28.5 per 1,000 residents, almost double the number in the average U.S. city (14.5). Additionally, jobs in Atlanta have grown 2.5% over the past year, versus 1.7% nationwide, indicating thriving business conditions.
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ATLANTA—The City of Atlanta has been named as the top city to start a business in 2024 by Home Bay and recognized in Black Enterprise magazine, the city announced in a new release. Cited for low operating costs, a large talent pool and a strong community of Black entrepreneurs, the latest acknowledgement comes after the Atlanta metro area captured the Best Place to Start Your Own Business in 2024 by LinkedIn.
“Once again, the city of Atlanta is being recognized for our efforts to create an inclusive community that supports strong business growth and development. We are a city of entrepreneurs, innovators, incubators and thinkers who are helping us create a city of opportunity for all,” said Mayor Andre Dickens. “Businesses are started here because they know the power of our talent pool, the strength of our economy and the possibility of growth. We continue to be leaders in making this city the best place in the country to raise a family, and now, start a business.”
Home Bay conducted a study analyzing various metrics including new business applications, venture capital investment, and job growth. Atlanta was ranked No. 1, showing significant improvements in its business environment over the past few years. Atlanta moved up from the No.5 ranking, behind No. 1 Las Vegas, since the last time the study was done in 2022.
Home Bay cites that over the past five years, Atlanta has the second-highest number of new business applications with 28.5 per 1,000 residents – almost double the number in the average U.S. city (14.5). Additionally, jobs in Atlanta have grown 2.5% over the past year, versus 1.7% nationwide, indicating thriving business conditions. The city also offers numerous resources and opportunities for networking and support, particularly for Black-owned businesses.
Home Bay cited the top five cities for business startups as Atlanta, and Miami, Orlando and Tampa(all in Florida); and Austin, Tx.
Home Bay ranked the five worst cities for startups as Providence, Rhode Island; Hartford, Connecticut; New York; Milwaukee, Wisconsin; and Louisville, Kentucky.