Savannah is the oldest city in the state of Georgia. The picturesque cobblestone streets, horse-drawn carriages, and numerous historic sites along the Savannah River attract close to 15 million people each year. With visitor spending topping the $3 billion mark, Savannah is the perfect spot for entrepreneurs to bring new business.
Living in Savannah
Savannah is a coastal city with period architecture, trendy boutiques, and a food scene that’s a culinary paradise for foodies. With approximately 216 sunny days per year and rarely any snow, the city gives both visitors and locals a chance to get out and explore and shop. Some of the most popular events and sites of interest include:
- Christmas Made in the South show
- Annual orange festival
- Tybee Island polar plunge
- Wormsloe state historic site
- Forsyth Park
- Bonaventure Cemetery
Local colleges tend to be crucial for workforce development. Community colleges and technical schools tend to maintain partnerships with local businesses, which can play a part in the success of new and existing businesses. In Savannah, local colleges include:
- The Savannah College of Art and Design
- South University
- Savannah Technical College
- Georgia Southern University – Armstrong Campus
Cost of Living
Savannah has a cost of living that is much lower than the national average and the state average. Housing costs and the average home value is also much lower than the state and national averages. A lower cost of living means workers have more disposable income to spend. With so many colleges in the area, however, the housing and rental market is somewhat competitive.
Serving Local Business Owners
An active business community helps foster entrepreneurship and a culture of innovation. A strong business community also provides support and delivers advice in both good times and in times when it’s hard. In Savannah, there are several business associations of like-minded individuals who can help reassure you that you’re not alone in your venture, provide confidence and be part of your support system.
- Savannah Downtown Business Association
- Savannah Area Chamber of Commerce
- CHSA Development
- Savannah Real Estate Board
- Savannah Economic Development Authority
Business Quick-Start List
The most important thing to do when starting a new business in Savannah or in any other location is to have a plan. A business plan is important because it serves as a roadmap to your success and helps you create and achieve both short-term and long-term goals. It’s also important to consider the legal structure and legal formation. A corporation has a number of benefits, including the ease in transferring shares and the ability to secure investors.
In Georgia, once you decide on the legal structure, you’ll need to register for state taxes, obtain an EIN number from the IRS, apply for local business licenses and permits, open a business bank account, set up your accounting, obtain insurance and then hire employees.
Setting Up a Business in Savannah
Savannah is the perfect place to start a business. As one of Georgia’s largest cities, Savannah has an active business community that’s supportive and helpful when trying to get your new company on track.
Contact Nicasio Design today to establish your online presence and for help developing your website to make it easier to share with consumers and potential clients.
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