Small Business, Entrepreneurs

Small Businesses and Entrepreneurs

Assistance for Small Businesses and Entrepreneurs
Georgia offers several programs specifically designed to meet the needs of small businesses and entrepreneurs.

Small Business Tax Relief- Georgia now allows small businesses making capital investments of less than $410,000 to write off up to $102,000 of those expenses in the current year. For capital investments greater than $410,000, the tax write-off is reduced dollar for dollar.

Entrepreneur and Small Business (ESB) Loan Guarantee Program In partnership with the OneGeorgia Authority, the state can provide loan guarantees to spur entrepreneurial growth in specified rural communities throughout Georgia. The guarantee amounts can range between $35,000 and $250,000, can be used for hard assets or for start-up and working capital and require a 10 percent cash equity injection by the borrower. ESB Loan Guarantee Program

Angel Investor Tax Credit - Georgia now offers an income tax credit for qualified investors who invest in certain qualified businesses in Georgia in calendar year 2011, 2012 and 2013. The credit is claimed two years later, in 2013, 2014 and 2015 respectively. The credit is 35 percent of the investment with an individual investor cap of $50,000 per year. The aggregate annual cap for this program is $10 million. The qualified investor must get approval from the Georgia Department of Revenue before claiming the credit.