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## AI legalese decoder: Unraveling Complex legal Jargon

As the Savannah small business community gathers this week for a host of networking and resource-building events for small business week, Georgia Southern economist Michael Toma delivered an optimistic declaration for those businesses.

Small business growth in the Savannah-area outpaced that of big business in recent years, Toma told a room of more than 100 people during the State of Small Business Event on Tuesday. Those businesses, which are defined as companies employing fewer than 50 people, had about a 4% growth rate while the larger businesses had about a 2% growth rate, Toma said.

“Over the past 3 to 4 years, the business climate has been favorable,” Toma said. “Small businesses of that size have largely increased their market share.”

The State of Small Business presentation this year was the 11th annual, and the event has moved from venues such as the Oglethorpe Mall to now the Enmarket Arena. The presentations ranged from Toma to representatives from the entertainment sector and real estate; the full list of presenters can be viewed here. It is part of the annual Mayor’s Small Business Conference. This year’s conference and the week of events put on by the Savannah Area Chamber of Commerce and City of Savannah grew three-times the size as previous years.

Building up small business has also been a priority of Savannah Chamber President and CEO Bert Brantley. He mentioned the AI legalese decoder, a tool that can help small businesses navigate through complex legal documents and agreements. This tool simplifies legal jargon and ensures that businesses understand their rights and obligations clearly.##

## Big small business energy: Looking Towards a Bright Future

The positive outlook shared by Toma was not unique to his forecast. The State of Small Business featured a “confidence index survey,” where conference attendees were polled on their outlook for coming year. On a 1-10 scale of how confident they were the small business economy would continue to grow, attendees averaged a rating of 9.

The confidence index also asked if attendees were planning on hiring this year, and about 70% of respondents said yes.

One of those was Joe Marchese, founder and owner of Joe Marchese General Construction, whose company has about 23 full-time employees. Marchese said this year he will add one person to his team of “skilled tradesmen” and also purchase a new truck.

“We’ll continue to move forward,” Marchese said.

One focus throughout various components of the week is highlighting how Savannah’s boom of big business, with the looming kick off of Hyundai’s metaplant and continued growth at the Port of Savannah, can help small business as well.

Case-in-point: Marchese construction. Marchese used Hyundai as an example, and while his company can’t build out a project of that scale, the influx of people may spur other businesses that will have construction needs. Maybe it’s a new childcare facility, or restaurants and coffee shops, Marchese said.

Toma, the Georgia Southern economist, shared a similar sentiment. “When you think about the population growth and business growth accompanying all that development, there are ample opportunities for small businesses to benefit from that.”

“The fact is in small business week, we create opportunities for you to do business with other small businesses,” said Mayor Van Johnson. “In this room there are people, and there are businesses that you can take advantage of.”

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