SAVANNAH, Ga. — The 12th Annual State of Small Business in the Savannah Area was held Wednesday, May 7, 2025, during the City of Savannah’s Mayor’s Small Business Conference at the Savannah Civic Center. Sponsored by Carver State Bank and presented by the City of Savannah, the event brought together local leaders to provide a comprehensive snapshot of economic trends and opportunities for the region’s small business community.
Mayor Van Johnson welcomed attendees following a continental breakfast and officially opened the conference at 8:30 a.m. The event, free and open to the public, was part of Savannah’s celebration of National Small Business Week.
The Savannah Business Journal served as the media sponsor, and Brittany Curry of Inky Brittany graphically captured key takeaways live during the session.
Ten local industry experts, each representing a different sector, delivered concise three-minute briefings on the latest trends, challenges, and opportunities affecting Savannah’s small businesses.
Moncello Stewart, president of the Greater Savannah Black Chamber of Commerce, spoke on the state of Black business ownership. He emphasized the importance of sustained investment and community support and highlighted the chamber’s monthly mixers as valuable opportunities for professional development and networking. “Black business ownership is growing—250+ minority-owned businesses strong!” he said, celebrating diversity and entrepreneurship.
Rhett Mouchet, associate broker at Colliers International Savannah, reported strong momentum in the commercial real estate market, with notable developments across multiple sectors. “Savannah continues to be a leading city for growth in the commercial, industrial, multifamily—and especially hospitality—sectors,” he said. “Because of the growth of the Savannah Port, our warehouse inventory has doubled over the last four years.” He also pointed to a unique trend in the hospitality market: “Hotel developers are acquiring and converting office buildings into hotels, which has driven our office vacancy rate down to just 2%—compared to 20–30% in many other cities.” Mouchet emphasized that these trends are creating significant opportunities for small business owners.
Charles “Bo” Bowen, entertainment and corporate attorney at The Bowen Firm, addressed the current slowdown in Savannah’s film industry. While acknowledging that there have been no productions in the city over the past 10 months due to the writers’ strike, he described the situation as a temporary “pause.” Bowen noted that 2022 was a record-breaking year with $400 million in revenue, but that number dropped to $200 million following the strike.
Alfonso Ribot, president and CEO of the Metropolitan Savannah Hispanic Chamber of Commerce, highlighted the rapid growth and economic impact of Hispanic and Latino entrepreneurs in the region. Since 2010, the Hispanic population in Savannah has grown by 32 percent, and Hispanic-owned businesses now make up 8.4 percent of all businesses in Georgia. Ribot emphasized emerging opportunities for bilingual professionals, particularly in real estate.
Victoria Saxton, president and CEO of the Small Business Assistance Corporation, provided updates on capital access. “Although federal policy changes have created some uncertainty, funding support for local businesses in Savannah remains steady,” she said.
Bill Lucas, founder of Bill Lucas Insurance, addressed the challenges of rising health insurance costs. He encouraged small business owners to seek out customized, affordable plans and stressed that offering benefits is key to attracting and retaining a reliable workforce.
Dr. Scott C. Scheidt, chief security officer at Seimitsu, underscored the growing importance of cybersecurity. “Small businesses are not just protecting themselves anymore—they’re responsible for their vendors’ security posture, too. Vendor vulnerabilities can become your weakness,” he warned.
Jesse Dillon, chief operating officer at the Savannah Economic Development Authority (SEDA), discussed the region’s continued growth, emphasizing the valuable opportunities this creates for small business owners. She highlighted Savannah’s strong position in logistics and infrastructure, noting that small businesses can benefit from the influx of new industries and increased investment in the area.
Stephen Plunk, director of government affairs and community relations for the Tourism Leadership Council, offered a measured outlook for tourism and hospitality. “We’re optimistic about 2025, but entering the season with high caution,” he said. Plunk described how the industry has weathered extremes—from the lows of the COVID era to post-lockdown labor shortages—and now faces declining consumer confidence. He advised investing in local relationships with tour guides, trolley drivers, and restaurant owners as a smart strategy to drive business.
Dr. Michael Toma, professor of economics at Georgia Southern University, delivered a data-driven economic forecast. He predicted a challenging year ahead as regional growth is expected to dip below long-term trends. Toma advised small businesses with overseas supply chains to prepare for potential disruptions stemming from evolving federal tariff policies.
Phillip Scroggin of Sol Insights concluded the session with the results of the annual Confidence Index Survey. Participants rated their confidence in Savannah’s economic growth at 7.6 out of 10, compared to 7.3 for Georgia and just 5.4 for the national economy. Notably, 59 percent of those surveyed plan to hire new employees this year, signaling continued optimism at the local level.
Founded in 2012 by Marjorie Young of Carriage Trade Public Relations® and Joe Marchese of Marchese Construction, the State of Small Business event aims to provide timely, relevant data to help small business owners make informed decisions for growth and sustainability.
For more information about the event or upcoming business support services, visit www.savannahga.gov/msbc.
