A Commercial Renter’s Rights in Georgia (Credit: Kristy Borowik, bizfluent)

Residential tenants have more rights than commercial renters in Georgia. Unfortunately the landlord has more rights when it comes to commercial property lease agreements. The key to understanding any tenant’s rights is in the lease agreement, which Georgia recognizes as a legally binding contract. Unless something in the lease is illegal, any tenant’s rights are limited by the language in the lease agreement, so it is crucial for all tenants to understand their lease agreements before signing.

Shared From https://bizfluent.com/info-8412291-commercial-renters-rights-georgia.html

Before Signing the Lease

The potential commercial tenant has the right to request a subordination, non-disturbance and attornment agreement, which requires a lender to honor a tenant’s lease in the event of foreclosure on the leased property. If the landlord’s lender does not want to sign an SNDA agreement, the tenant might want to find another property to lease.

All potential tenants should inspect the property before leasing and have a lawyer look over the lease agreement before signing.

Privacy Rights

Residential tenants have the right to privacy in the rental property. The landlord must give ample notice before entering the property and enter only at a reasonable time and for a legitimate reason. The same is not true with commercial property. Landlords may enter a commercial property whenever they want, as long as they do not interfere with the commercial tenant’s business.

Insurance

Georgia requires the landlord of a commercial property to insure the property against fire and other basic risks. The commercial tenant has the right to request proof of insurance before paying rent. However, the tenant is responsible for liability insurance.

Unpaid Rent

The landlord may lock out a commercial tenant for not paying rent. This is different with residential tenants, as the landlord may need a court order before locking them out. Commercial tenants do not have the right to the leased property as they would residential property. Further, a landlord may sell the commercial tenant’s property to cover back rent.

Disputes

Georgia does not have a governmental agency that settles dispute between landlords and tenants or that has the power to force either party to behave in a particular manner. If commercial tenants cannot resolve a dispute with a landlord on their own, they must use the courts, either directly or through a lawyer, to enforce their legal rights.

If you have questions regarding commercial landlord/tenant law, let us help!  Thrift & McLemore’s attorneys have assisted numerous companies and individuals in the legal field.   Contact Thrift & McLemore by email at [email protected] or by phone at 678-784-4150 to discuss how we can help you.

Intestacy in Georgia – Dying without a Last Will and Testament

Preparing for the end of one’s life is something we all know that we should do, however according to AARP, the majority of Americans stop there.  According to the study, which relies on a survey from caring.com, only 4 in 10 American adults have made good on the task and have any type of estate planning document.  As is the case in most states, Georgia residents who die without a will, or intestate, rely on the states distribution scheme to disperse their assets to surviving loved ones.

Many individuals may think that because such a plan exists with the state that they are off the hook, or that their affairs are adequately taken care of.  What may be surprising to residents in Georgia is that the laws governing intestate succession may not be what most of us would logically think would happen.  What’s more, these guidelines don’t necessarily fulfill what the majority of citizens would prefer, especially when it comes to their surviving spouses.

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Before you concern yourself with who will get what if you die without recording a will, you need to know which assets will be affected.  These assets are referred to as probate property, and few know that it doesn’t apply to the entirety of their net worth.  Real property and bank accounts held solely in the name of the deceased individual are considered probate property, but there are many other accounts that are not.

These include things such as life insurance proceeds, funds in IRA’s, 401k’s, co-owned property, and joint bank accounts.  The inheritances of these assets are controlled by beneficiary designations within the account or payable on death clauses among joint owned accounts.  This is important to note because while significant portions of wealth for the average individual is tied to retirement accounts controlled outside of probate, the home is often times just as significant an asset in terms of an individual’s net worth, and it must go through probate in the absence of a trust.

Armed with a working knowledge of which assets the state will ultimately disperse to your loved ones, you can think about how they will divide these assets up.  Because all families will vary to the extent of living relatives such as spouses, children, parents, and siblings, there exists a table that determines the degree of relation called the Table of Consanguinity.

This table effectively rates the order in which your assets will be dispersed.  It goes all the way to third cousins if no heirs can be found, but the general order in which relatives will inherit is: spouse, children, parents, siblings, and then grandparents.  The first in line takes to the exclusion of all others, meaning that if there are living children, they inherit all assets before the parents get a penny.  In most states, all assets go directly to the spouse first.  In Georgia this is also true if the deceased has no children, but deviations occur from here.  Below lays out a few of the more common scenarios with how intestate assets are distributed in Georgia.

  • Survived by a spouse with no children – all assets are inherited by the surviving spouse.
  • Survived by children with no spouse – all children inherit equal shares, per stirpes, of the assets.
  • Survived by a spouse AND children – Spouse and children inherit equally as if the spouse was one of the deceased children. There exists a qualifier here that the surviving spouse will receive no less than one third of the estate.  This means that up to two children, the spouse and children receive the same share, but if three children exist, their share is reduced to the extent that the surviving spouse takes a one third share.
  • Not survived by a spouse OR children – If there exist no living spouse or children at the time of death, all decedents assets go to grandchildren in the shares that their parents would have inherited. If no grandchildren exist, then the decedent’s parents inherit the assets.  Should the parent’s also be deceased, then any siblings would take in equal shares.

While the Table of Consanguinity and the per stirpes scheme of distribution seem logical, the hang-up for many is the distribution given to a surviving spouse with children.  Many hope to give all assets to their surviving spouse in the hopes that those same assets go to the children after the spouse’s death.  This is to ensure that he/she was provided for during the rest of their lifetime.  If you are a resident of Georgia and this distribution scheme is something that you wish to avoid, you absolutely MUST execute a will or the state scheme will control the transfer of your assets.

If you have questions regarding a Last Will and Testament or what probate instrument is right for you, let us help!  Thrift & McLemore’s attorneys have assisted numerous Georgians develop estate plans specific to their goals.   Contact Thrift & McLemore by email at [email protected] or by phone at 678-671-4031 to discuss how we can help you and your family set your affairs in order today.

Does Your Georgia Small Business Qualify as a Disadvantaged Business Enterprise (BDE)?

Select small business owners located in Georgia take note.  There is a network of programs that exist within the state that offers Disadvantaged Business Enterprise (DBE) certifications to those businesses who are majority owned by individuals considered to be socially or economically disadvantaged.  Certification with the state brings undeniable benefits by offering a distinct leg up to these businesses, who may be vying for state contracts with administrative organizations such as MARTA and the Georgia Department of Transportation (GDOT).

The underlying goal of the programs are to offer greater exposure of certified minority companies to state and local officials as well as private sector suppliers in an effort to increase subcontracting opportunities for these companies.  Said certifications are granted to a diverse group of businesses, including but not limited to traditionally disadvantaged classes such as women, minorities, veterans and service disabled veterans.

The authority for these programs is vested under state law O.C.G.A. § 48-7-38 which states, “When computing the taxable net income of a Georgia base corporation, partnership, or individual, there shall be subtracted from federal taxable income of federal adjusted gross income 10 percent of the amount of qualified payments to certified minority subcontractors.”  This essentially amounts to the state rewarding organizations that do business with certified DBE’s through tax incentives on the amount of services paid.  This 10 percent is material to organizations awarding large scale contracts.

To qualify, the potential applicant simply need be a for-profit organization that is at least 51% owned and operated by a socially or economically disadvantaged class and based in Georgia.  From here the application process is based on the location in Georgia in which the business in located.  The Georgia Unified Certification program (GUCP) is available to all members within the state except for Fulton, Dekalb, or Clayton counties.  These counties are certified separately through the Metropolitan Atlanta Rapid Transit Authority (MARTA).  The Unified Application can be found here.

In addition to the statewide program, the city of Atlanta, through the Office of Contract Compliance offers two more programs for the same class of individuals.  These programs are the Equal Business Opportunity (EBO) and Small Business Opportunity (SBO).  While the qualifications of these programs are slightly different than GUCP, the underlying goal is the same, to certify qualifying entities and offer them increased access to work within the city of Atlanta.  The applications for these programs are available here.

Finally, another program available to a more selective class of individuals on the basis of ethnicity is available as a Minority Business Enterprise (MBE).  This program is only available to existing and certified DBE organizations, and operates as a separate certification.  This program supports to these businesses through offering education, networking, and additional resources for all certified members.  The only additional requirement over DBE certification is that the owner of such business be a minority.  This application is located here.

If you have questions regarding these programs or whether you qualify, we are more than happy to answer them.  Thrift & McLemore’s attorneys are well versed in the qualifications and necessary paperwork involved with becoming a DBE in Georgia.   Contact Thrift & McLemore by email at [email protected] or by phone at 678-671-4031 to discuss how we can assist you with the application process and get you on your way to being a registered Disadvantaged Business Enterprise today!

Is a Shift to Commercial Real Estate on the Horizon?

A snapshot of the downtown Atlanta skyline reveals a construction boom, flourishing with cranes and even more new high rises.  This is only logical, as the ten year rebound in the real estate market has sharply increased the demand for top end real estate.  According to Collier’s International, commercial vacancies in 2017 were the lowest they’ve been since the recession.  It would seem that these buildings can’t go up fast enough.

The consequence to this seemingly unending demand for commercial space is the equally aggressive prices of rent.  As commercial construction projects typically lag the economic recovery, this pent up demand creates ascendant price fluctuations until new office buildings can come online to alleviate demand.  Indeed, Colliers reports that average rent prices increased by 7% alone last year.  Class A luxury commercial real estate increased 17%.

While it is encouraging to see so much new commercial construction around the city, Colliers again accounts that the majority is in high end markets, signaling that rental prices will only continue to rise.  In a booming market, this can be seen as healthy, but as with residential, every market has its limits.

Douglas Sams, Commercial Real Estate Editor for the Atlanta Business chronicle reported yesterday that while commercial rental activity remains high, consolidations are beginning to take hold which could slow the market.  Mr. Sams breaks that AT&T, with offices in downtown and midtown, expect to vacate three buildings in Atlanta, moving operations into existing offices in an effort to save on outsized rental costs.  Consolidation of such a large Atlanta business brings pause.

Ken Ashley, Executive Director and Cushman and Wakefield, cites shifts in the traditional commercial real estate paradigm as a way that companies are coping with outsized rents.  “City Center” projects outside the perimeter are gaining steam, with projects like The Battery in Smyrna, or Avalon in Alpharetta.  Ashley states this is a good way to maintain urban environments, while taking advantage of more plentiful and affordable land.  Still he says upward price pressure will begin to take its toll, positing that subleases of space will accelerate as the needs of companies are no longer adequately met or are overburdened by the cost of the real estate.

While there are no indications on a hard stall with regards to the Commercial Real Estate market, as the ever increasing price tag for quality office space continues to rise, more and more individuals find them financially stressed and in some cases over leveraged.  For companies facing this situation, it is important to understand their options.

As this unprecedented market boom nears its cyclical end, commercial foreclosures occurrences undoubtedly will find themselves back on the rise.  After so many years of strong growth, some market stagnation is surely expected, and has already been seen on the residential side.  Whether you are a commercial landlord or a commercial tenant, in order to protect your interests you should at the very least have a functioning knowledge of commercial foreclosure.

Commercial foreclosure operates similarly to residential foreclosure in Georgia.  Georgia law allows non-judicial foreclosure is legal meaning that when the borrower defaults on the mortgage, either by falling behind on payments or failing to abide by the terms of the agreement, the lender can accelerate the loan and commence foreclosure without the intervention of the court.  This can speed up the process of foreclosure and catch many affected off guard.  The need for awareness applies not only to owners of commercial real estate, but tenants’ rights are also affected.

Before allowing your organization to find itself on the wrong end of these proceedings, you absolutely must speak with competent counsel who can educate you with regard to your options.  Thrift & McLemore’s attorneys have made a career in the commercial real estate arena and can help with your exact situation.   Contact Thrift & McLemore by email at [email protected] or by phone at 678-671-4031 to discuss how we can assist you with protecting your rights and keeping your commercial property or rental out of foreclosure today.

Is the RV Industry Headed for a Slowdown?

There is a little known fact about the RV sector that the rest of America should pay heed to. The RV industry has long been an economic barometer of sorts, providing a leading indicator of the direction of the economy as a whole.   “R.V.’s have always preceded the rest of the economy in a downturn and in an upturn,” said Richard Curtin, an economist at the University of Michigan.  Many members of this industry are currently watching this trend as they see RV sales starting to level off.

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RV industry shipments aim to hit 539,900 through the end of 2018, in what would mark 9 straight years of growth.  This is a 7% increase over 2017 which tallied 504,600, and still less than the 550,000 forecasted for 2019.  Shipments year over year through Q1 saw a 13.4% lift.  These figures were provided by Frank Hugelmeyer, President of the RV Industry Association, to the association back in June.

Mr. Hugelmeyer has a lot to be optimistic about with the aging population, which tend to be the bread and butter of the RV industry, as well as outsized interest from the millennial age group, who are entering their generational period of extra discretionary income.  This all seems to align with the fact that since 2010, when the sector was emerging from the financial crisis, the RV industry has grown at an annual average of 12.6%.

Not everyone, however, shares Mr. Hugelmeyer’s glass half-full interpretation.  The city of Elkhart, Indiana, self-dubbed the “RV Capital of the World” is responsible for the production of more than 80 percent of Recreational vehicles sold in the U.S.  Many in the industry here are getting a different sense of the headwinds that propel this little corner of the economy.

While overall RV shipments were up for July, motor home shipments were down 6.5% in the same month.  Richard Curtin sees this as a “yellow light”.  Mr. Curtin acknowledges this could be a temporary condition such as excess inventory due to overproduction involving a nearly 10 year boom.  While not a significant cause for concern yet, there are other future looking indicators to be considered as opposed to historic sales.

Elkhart enjoys some of the lowest unemployment rates in the country, at just over 2%.  Despite this, recently some companies there have been cutting their production workers to four day work weeks instead of five to alleviate some of the excess inventory.

Others point not to the temporary labor glut, but the larger factors that could be contributing to these headwinds.  The RV industry, like many other manufacturing and farming communities are hit first and hardest by the impacts of the trade tariffs.  Cost of goods for many in the industry are seeing increases of up to 50%.  These costs ultimately pass through to the consumer, and many blame the rising prices for the levelling off in shipments.

Senator Joe Donelly, A Democrat whose home is near Elkhart says, “I think there’s serious concern about the effects of tariffs on the R.V. industry.  So many of the components that go into R.V.s are directly affected by these tariffs.  Echoing these sentiments is Mark Dobson, the head of the Economic Development Corporation in Elkhart County, “Nobody’s in a panic, they are just concerned.”

Still, where some fear a downturn, others are thriving.  LCI industries, a large manufacturer of components for RV’s are experiencing growth in growing sectors.  CEO Jason Lippert is optimistic.  His company saw aftermarket component sales rise by more than half in the second quarter, signaling a move to RV maintenance as opposed to new purchases.  Dan Holtz, a small business owner in the industry welcomes a perceived slowdown, as he has said he is having trouble finding enough workers and sees it as nothing more than an expected correction.

While no one in the industry has hit the brakes just yet, some are starting to take their foot off the accelerator.  While Mr. Curtin believes conditions metaphorically display a yellow light, he concludes that, “Depending on how things evolve in six months, it could be a red light, getting to the end of the expansion.”  Every business owner in the RV industry concerned about the slowdown being experienced within the sector should retain qualified counsel to represent their interests.

Thrift & McLemore’s attorneys have over 12 years’ experience in representing clients in the RV space.   Contact Thrift & McLemore by email at [email protected] or by phone at 678-671-4031 to discuss how we can assist you with protecting your RV business today.

Georgia Year’s Support: An Essential Component to Comprehensive Estate Planning

By Kent C. Bailey, Esq., Thrift & McLemore, LLC, September 2, 2018

The death of a loved one is a time of extreme mourning and anguish for surviving family members.  In addition to the grieving process many may worry how they will move forward financially, especially if the deceased was the breadwinner of the family.  While many families are familiar with the need for a will to add financial security in these times, an almost forgotten provision in Georgia Probate Code is often neglected as a tool to care for these loved ones: Year’s Support.

What is Year’s Support? 

Georgia Code Title 53, Chapter 3 – Year’s Support is, despite its name a permanent award to a surviving spouse, minor children, or both.  It is a right to inherit property for these individuals, regardless of what may have been communicated via will, the absence of a will, or the relative position of the majority of creditors.  The beneficiary is generally entitled to receive an amount equaling satisfactory support and maintenance for a period of 12 months for a standard of living that the individual is accustomed to.  This right is not absolute; for if a spouse remarries or dies before filing, or if a minor child reaches the age of majority before filing, this right is lost.  To successfully secure a year’s support claim, a petitioner must file in the probate court in the county of the deceased within two years.  This claim can be challenged by other beneficiaries of the will, and the award will ultimately depend on the court’s discretion.

In Laymen’s Terms

Year’s Support is in actuality an antiquated law that has been on the books in Georgia for decades, dating back to a time when males were the primary provider and females were the primary caregivers within households.  While it holds a dated application in modern society, it is nonetheless an active law that can be very effective for families depending on the situation.  In a nutshell, it is a way to ensure that families of deceased individuals are not left out in the cold due to the decedent’s neglect in creating an effective estate plan, or due to changes in the decedent’s financial situation since the creation of an estate plan.  A properly petitioned Year’s Support claim places spouses and minor children squarely in the front of the line when it comes to divvying up deceased individuals assets, ensuring the family is fed before most creditors or distant money hungry relatives.

Applying Year’s Support Strategically

By terms of a properly executed will in Georgia, an individual would most often have a surviving spouse elect between the right of seeking an award of Year’s Support, or taking the property under the will as it exists.  For decedents facing significant debt at the end of life or blended families, this offers significant flexibility with regards to the estate.

Year’s Support is especially beneficial for families of deceased individuals with high levels of debt relative to assets.  Be it end of life care or some other reason, often times creditors can take the lion-share of an estate leaving surviving family members to fend for themselves.  A Year’s Support election pushes these family members to the front of the line at the expense of said creditors.  This does not include mortgage debt, but does extinguish personal debt such as credit cards, student loans, etc.

Blended families are another area where Year’s Support enjoys high participation.  If a decedent does a poor job of leaving assets to minor children in the event of remarriage, or leaves the very home that a second spouse lives in to his minor children, Year’s Support offers recourse for the aggrieved parties.  While many blended families are able to get along cordially, Year’s Support can be the last bastion of support for others engaged in a nasty probate battle.

Once properly filed, courts generally condone the award of Year’s Support unless an objection is filed by a separate party with an interest in the estate.  If an objection is filed, it is necessary to retain an attorney, as proper accounting of the estate and procedural actions apply.  The likelihood of a successful challenge depends on a number of factors, and is an intensely fact specific inquiry.

Also worth mentioning is that an award of Year’s Support only applies to probate assets.  This means that retirement accounts such as 401k’s, IRA’s, and life insurance policies are exempt unless there is no designated beneficiary.  Similarly, accounts designated as Joint Tenants with Right of Survivorship (JTWRS) become sole property of the surviving individual upon death of the decedent, exempting themselves from reach of probate.

How Can We Help?

Before electing or petitioning for Year’s Support in Georgia, it is worth reviewing the complete fact set with a skilled attorney.  For a self- help guide on Year’s Support in Georgia, click here.  If you have any questions about Year’s Support, or any other aspect of Estate Planning in Georgia, the qualified attorney’s at Thrift & McLemore are here to help.  You can reach Thrift & McLemore by email at [email protected] or by phone at 678-671-4031 to discuss how we can assist you in creating an estate plan that works for you today.

Please visit us on the web at www.thriftlegal.com.

Legal Entity Establishment: Choosing the Right Legal Form for Your Georgia Startup

By Kent Bailey, Esq. – [email protected]

#GAStartUpLawyer

Choosing the proper legal form is one of the single most important decisions in the infancy of an Entrepreneur’s startup endeavors.  It will guide how decisions regarding the operation of business will be made, the exposure to liability of select members, and rules regarding taxation.  It is fair to assume that most, if not all, entrepreneurs have a sound foundation in the principles of business.  A large stumbling block for many of these same entrepreneurs is wading through the complexities of choosing the correct legal entity for their Georgia business.

Choosing the correct business formation depends on a variety of factors that are case specific to each small business owner’s individual situation and objectives.  Each entity carries with it its own pro’s and con’s that must be carefully weighed against the would be business owner’s needs, with an eye for optimizing success of the organization.  What follows are the most common entities and some information regarding each of them.

Sole Proprietorship

A Sole Proprietorship is the easiest type of business to form.  The business usually operates in the name of the owner.  There is no formal filing with the state to create this legal entity, and a business and or occupational license is all that is required to begin.  While this is the easiest business form to create, it also carries one of the largest drawbacks.  Personal and business activities are not distinguished in a Sole Proprietorship, meaning that all income from the business passes through to the owner or sole proprietor.  There is also no shield from liability, meaning that the business owner is personally liable to all debts of the business.

Partnership

Similar to a Sole Proprietorship, a partnership can be very simple to form, and is merely an agreement regarding a business relationship between two or more people who join to carry on a trade or business.  Where a Sole Proprietorship has a single owner and decision holder, a Partnership has at a minimum two members who are responsible for the carrying on of the business.  These partners contribute capital, labor, or skill to the organization and in return share in the profits and losses.  Generally speaking, a Partnership carries with it unlimited liability and pass through taxation, although some exceptions to this exist.  While a formal, written partnership agreement is not necessary to create a partnership in Georgia, it is strongly recommended.

C – Corporation

A C Corporation differs from a Sole Proprietorship or Partnership in that it is a unique legal entity that exists distinctly and separately from its owners.  It requires more steps to be properly formed, and must be registered with the Secretary of State in Georgia.  Ownership of a corporation is governed by shareholders of the entity who appoint a board of directors to oversee corporate decisions and policies.  This board of directors can elect officers of the company to manage day to day affairs.  In a start-up or small business, these officers are also typically the shareholders.  With the drawback of the C Corp. being the complexity of the organization, the benefit of this entity is the legal separation of assets and liability from the owner.  Income from the Corporation is taxed to the corporation then sent to the individual in the form of a distribution.  This is referred to as “double taxation” however the benefit of this formation is that the liability of the corporation does not extend to the personal assets of the owner.

S – Corporation

An S – Corporation is comprised of the same formation that exists for a C – Corp. above save for one difference.  S – Corp. Status is an election made to have the corporation’s income and expenses taxed to the owner’s via “pass through” discussed above.  It offers the same liability safe havens as a general corporation, but avoids the “double taxation” that exists within a C – Corp.  There are limitations as to who may qualify for organization under an S – Corp.

Limited Liability Company

A Limited Liability Company; or LLC is a hybrid entity that combines the limited liability characteristics of a corporation with the beneficial tax structure of a partnership.  While requiring more formality and steps to create than a Sole Proprietorship or Partnership, an LLC enjoys the same flexibility that these entities share with regards to pass through taxation and ease of ownership decision making.  LLC’s also enjoy the benefits of corporate formation with regards to limitation of liability, while avoiding the rigidity of double taxation, required shareholder meetings, complex decision making, or issuance and management of stock.  Limited Liability Companies are popular among small business owners in the state of Georgia.

For more resources on starting your Georgia business, reference the Secretary of States “First Start Business Guide”, at https://sos.ga.gov/admin/files/First_stop_business_guide.pdf.  If you wish to retain legal help in evaluating, starting, or managing your Georgia small business or start-up, contact Thrift & McLemore by email at [email protected] or by phone at 678-671-4031 to discuss how we can assist you in creating your Georgia business today.

Please visit us on the web at www.thriftlegal.com.

#GAStartUpLawyer

Porsche’s Airport Hotel Is Pampering Dogs with Dinner and Drinks (Credit: Eater Atlanta)

Solis Two Porsche Drive hotel and Apron restaurant are going the extra mile with their menu offerings for dogs flying the friendly skies

Porsche’s posh Solis Two Porsche Drive hotel located at Hartsfield-Jackson International Airport now offers “Sit, Stay, Solis” for guests traveling with their dogs. The Porsche Experience Center hotel provides an in-room dog bed, a dedicated dinner menu, and even a happy hour for dogs at Apron restaurant.

Upon check-in, guests traveling with their dogs will receive a dog bed, crate, and food and water bowls to keep their canines comfortable in their hotel rooms. Owners can then take their pups down to Apron’s dog-friendly patio for a special menu developed by executive chef Derrick Green with treats, ice cream, and “pupsicles.”

Once a month, Apron is hosting “Puptails on the Pawtio” where dogs are treated to grooming and training sessions while their owners listen to guest speakers and attend book signings. On-site adoptions days are also in the works. The next dog adoption day is scheduled for Saturday, August 18 with Lifeline Animal Project.

A $75 non-refundable pet fee is required upon check-in at the hotel. There is no weight limit for dogs staying at Solis Two Porsche Drive. Sorry, only two pets per room.

https://atlanta.eater.com/2018/7/23/17602122/two-solis-porsche-drive-dog-friendly-menu-atlanta

This Year’s Atlanta Metro Export Challenge to Launch With July 18 Event

The Atlanta Metro Export Challenge, which has distributed hundreds of thousands of dollars since 2016 to help local exporters with their global sales journeys, is returning again this year with backing from JPMorgan Chase

Administered by the Metro Atlanta Chamber but open to firms from the 29-county region, the challenge will hold an information session and kickoff meeting at the NanoLumens office in Peachtree Corners at 4 p.m. July 18. 

There, potential participants will hear about how the challenge has helped companies hone their strategies and receive the financial boost needed to enhance existing sales or jumpstart international growth. 

And this recap won’t just be coming from the organizers: previous winners from the last two years will be on hand to provide their first hand testimonials about the experience. 

Many have said that the challenge — and the broader thinking it fosters — has catapulted their companies into positive new territory. 

One example is Triatek, which won last year’s pitch competition to the tune of $20,000 — and that was after the first-round victory that saw the maker of ventilation systems for hospitals and research labs take home $5,000. 

Triatek was bought by Johnson Controls Inc.  shortly after its export-challenge victory, and company leaders say having a global footprint, a process accelerated by the challenge, contributed substantially to its being seen as a promising acquisition target. 

Cars 360, another export-challenge winner with app used to take 360-degree photo for car sales listings, was acquired by Carvana, the company seeking disrupt the car dealership process through technology and simplicity. 

For interested companies, here’s how the process works: Companies apply for a grant by outlining practical plans on how they would use $5,000 to generate more export sales. Thirty will be selected as first-round winners, receiving reimbursements for expenses in sums up to that amount. Then, those winners will be invited back later in the year for a pitch competition for the possibility of winning an additional $5,000, $10,000, or $20,000. 

Start the application process here, and register for the informational event here

Editor’s note: Global Atlanta is an organizing partner of some Atlanta Metro Export Challenge events.

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