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CPA Nicole Gillyard Shares Tips To Build Wealth In 2025 And Opening C Park Business Hub
Nicole Gillyard, an Atlanta-based Certified Public Accountant and finance expert, plans to open C-Park Business Hub in College Park, Georgia in 2025. The hub will provide opportunities for entrepreneurs that will include co-working space, professional business suites, and business education courses/programs.
You have over 30 years of experience in the field. What initially led you into the accounting and business services sector?
After graduating from college, I began my career at a large CPA firm. As I worked there, I noticed a significant gap in services available to smaller businesses. Many of these businesses weren’t getting the kind of support they needed in areas like accounting and taxes. So, I decided to branch out on my own. Initially, I didn’t set out to create a full-fledged practice—it was more about helping out the community. I focused on helping small businesses get their accounting and tax systems in order, and as I continued to assist, the demand grew. What started as a simple effort to help turned into a full business, and I officially founded my practice in 1999. It’s been an incredible journey ever since.
Q: You also founded C Park Business Hub. What inspired you to start that venture?
I relocated my practice from Detroit, Michigan, to Atlanta, Georgia, and during that transition, I had a lot of self-reflection. I realized that leasing office space for a growing business was incredibly expensive. So, instead of paying rent, I decided to invest in buying a building. The idea was twofold: to have a stable home for my practice and to offer affordable office space to other business owners who were in the same boat.
As I thought more about it, I also realized the potential for creating a true business community—one where entrepreneurs could not only find affordable office space but also receive the accounting and tax support they needed. This vision for C Park Business Hub became a place where businesses could land, expand, and grow. We also offer educational resources, networking opportunities, and even grants to help support businesses. It’s truly a space where the community can thrive together.
The business landscape is shifting in light of new policies and changes under the upcoming administration. What are your thoughts on these changes, especially regarding the potential impact on minority businesses?
I think we’re going to see a lot of change, especially when it comes to how businesses and job markets are impacted by new policies. For example, the rollback of certain diversity, equity, and inclusion (DEI) initiatives could make it harder for people from diverse backgrounds to get opportunities within traditional employment sectors. This might push more individuals to pursue entrepreneurship instead.
We’ve already seen this trend to some extent with the pandemic—many people started businesses because they were either pushed out of the traditional workforce or wanted more flexibility and control. I see that continuing, and I believe there will be a greater focus on creating businesses that empower underrepresented groups.
However, it’s essential to remember that starting a business isn’t easy. Statistics show that a significant percentage of businesses fail within the first five years, especially minority-owned businesses. That’s why education, mentorship, and access to resources are critical for success. At C Park, we are committed to providing not just office space but also the necessary tools and knowledge to help entrepreneurs succeed.
As we move into 2025, what advice would you give to someone looking to build wealth? There are a lot of paths—real estate, entrepreneurship, investing—what are your top tips?
When it comes to building wealth, there are four main areas to consider:
- Financial Education: You need to prioritize understanding your finances—your cash flow, expenses, profits, etc. Knowing your numbers is crucial. It’s also important to seek professional advice, even if it’s from a more affordable CPA. Many people start with a vision but lose track when challenges arise. That’s where solid financial education and guidance come into play.
- Multiple Streams of Income: It’s important not to put all your eggs in one basket. Real estate is one option, but it’s not the only way to build wealth. In the past, many people lost money in real estate when the market took a downturn, so having a diverse set of income sources—whether it’s from a business, investments, or side hustles—helps build financial resilience.
- Long-Term Perspective: A lot of entrepreneurs focus on short-term gains when they start their businesses, but reinvesting profits into the business is essential for long-term growth. Whether it’s expanding your operations, marketing efforts, or hiring talent, continuous reinvestment is key to sustaining and scaling a business.
- Sustainability: Building wealth isn’t just about making money—it’s about keeping it and growing it over time. It’s about sustainable practices, both in your personal finances and in your business.