Georgia 2020 Snapshot | Early-Stage Entrepreneurship

2020_KESE_Snapshot_GA

Entrepreneurship is important for job creation, innovation, and the economy. This brief provides a snapshot of various indicators related to early-stage entrepreneurial activity in Georgia.


RATE OF NEW ENTREPRENEURS

How many people are becoming entrepreneurs?

Since 2016, the rate of new entrepreneurs in Georgia has been above the national rate.

In Georgia, the rate of new entrepreneurs in 2020 was 0.36%, meaning that 3.6 out of every 1,000 adults became new entrepreneurs, on average, in a given month. This compares to 0.34% nationally.

OPPORTUNITY SHARE OF NEW ENTREPRENEURS

How many new entrepreneurs created their business out of opportunity?

Since 2016, the opportunity share of new entrepreneurs has been higher in Georgia compared to the rest of the nation

The opportunity share of new entrepreneurs was 84.0% in Georgia in 2020, compared
to 80.9% nationally.

STARTUP EARLY JOB CREATION

How many jobs are created by new businesses?

In recent years, the number of jobs created by startups in Georgia has been above the national level.

There were 5.4 jobs created by startups per 1,000 people in Georgia in 2020, compared to 5.0 jobs created by startups at the national level.

STARTUP EARLY SURVIVAL RATE

How many businesses survive their first year?

Since 2015, the share of startups that survive at least one year has been lower in Georgia compared to the national level.

In 2020, 76.5% of startups in Georgia survived at least one year, compared to 78.1% of startups at the national level.