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Small businesses have long powered North Carolina’s economy, and this week, the U.S. Small Business Administration is recognizing the entrepreneurs and companies driving growth across the country during National Small Business Week.
North Carolina is home to 1.1 million small businesses, representing 99.6 percent of all businesses in the state.
“North Carolina is home to companies of every size, from global brands to small businesses that power communities across our state,” said Laurel Rupe, Director of Small Business Advisors for the Economic Development Partnership of North Carolina. “From local coffee shops to growing tech startups, small businesses are the backbone of our economy, employing 44 percent of North Carolina’s workforce. Entrepreneurs are creating jobs, serving their neighbors, and driving the growth that keeps North Carolina the No. 1 state for business.”
The number of small businesses in North Carolina has grown steadily over the past three decades. In 1997, roughly 30,000 new businesses were created in the state, according to the North Carolina Secretary of State office. Last year, that number reached 172,000 — the second-highest total on record.
To support this growth, the Small Business Advisors team at the EDPNC provides free, one-on-one consultations to entrepreneurs across the state, offering guidance on regulatory requirements, licensing, and other key steps to launching and growing a business.
Last year, more than 10,000 business owners connected with the EDPNC’s Small Business Advisors team. Nearly half of those businesses were minority-, women-, or veteran-owned, and entrepreneurs from all 100 counties sought support.
About the Economic Development Partnership of North Carolina
The Economic Development Partnership of North Carolina (EDPNC) is a private nonprofit corporation that serves as North Carolina’s statewide economic development organization. Governed by an 18-member board of business and industry leaders from across the state, the EDPNC focuses on business and job recruitment, existing industry support, international trade, tourism and film marketing. The EDPNC, which operates under contract with the North Carolina Department of Commerce, works closely with public- and private-sector partners at the state, regional and local levels. To learn more, visit www.edpnc.com.