Banks County is States Newest Designated 'Entrepreneur Friendly' Community
ATLANTA, May 6, 2008 – Northeast Georgia's Banks County is now one of the state's newest 'Entrepreneur Friendly' communities. The designation means the community has developed an environment that is welcoming to small business and entrepreneurs. Ninety-two percent of Banks County's 350 companies are small businesses with fewer than 20 employees. 'The economic activity created by small businesses and entrepreneurs brings prosperity and opportunity to every part of Georgia,' said Georgia Governor Sonny Perdue. 'By championing these businesses, we are investing in a stronger future for communities throughout the state.' Banks County is the 102nd community in the state to be named Entrepreneur Friendly by the Georgia Department of Economic Development (GDEcD). Previously designated Northeast Georgia counties include Hall, Franklin, Hart and Habersham. Nearby counties in the process of designation include Towns and Union. Dawson County received its designation last month. To earn the designation, Banks County completed the Entrepreneur Friendly program with the assistance of GDEcD's regional representative Suzanne Browne. The county analyzed its entrepreneurial and small business environment and developed strategies to help foster its growth. Banks County also underwent a full-day assessment by a review team composed of GDEcD staff and representatives from the Department of Community Affairs, Georgia Tech, Small Business Development Center, White County Economic Development and Greater Hall Chamber of Commerce. Qualified entrepreneurs and small business owners in Banks County are now eligible for customized market data, such as demographic and business information, to help them become more competitive. The county is also eligible for an Entrepreneur-Friendly Implementation Fund (EFIF) grant to implement programs that support their entrepreneurs and small businesses and have a regional impact. The grant must be matched 50 percent in dollars or in-kind value by the community. 'The Merriam-Webster dictionary definition of entrepreneur is 'one who organizes, manages, and assumes the risks of a business or enterprise.' Each of these words is important. Entrepreneurship occurs in a business context, meaning the objective is to sell a product or service and make a profit. Entrepreneurs have the motivation that comes from pursuing ones' own ideas rather than somebody else's,' said Jerry Boling, chair of the Entrepreneur Friendly Committee. 'Small businesses are the linchpin in all of Georgia's communities. By supporting entrepreneurs and small businesses, we help Georgia grow,' said Heidi Green, chairman of the Georgia Entrepreneur and Small Business Coordinating Network and GDEcD's deputy commissioner for Global Commerce. 'We congratulate Banks County for making small businesses part of its strategic plan for growth.' The Georgia Department of Economic Development (GDEcD) is the state's sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry and small businesses, locating new markets for Georgia products, attracting tourists to Georgia, and promoting the state as a location for film, video and music projects, as well as planning and mobilizing state resources for economic development.