As small businesses continue to sprout in North Carolina, one of the state’s leading economic development authorities shared resources and elicited feedback from area entrepreneurs at ECU this week to help them grow.
During a small business roundtable event at East Carolina University’s Isley Innovation Hub on Tuesday, Secretary of State Elaine Marshall highlighted the state’s Rural RISE Initiative, which connects entrepreneurs with local resources like mentors or education.
Elected officials and local economic development heads were present to hear from Marshall and business owners from Pitt and Beaufort counties. She told the assembly that 172,000 new businesses were establish in 2023, just a shade lower than the all-time high of 178,300 in 2022. The growth amounts to about 650-700 new businesses staring every business day, Marshall said.
The first four months of 2024 seem on track with past totals, she said, adding that small businesses generated $190.7 million for the state’s general fund last year.
Marshall said that surveys sent to new business owners indicate that, after finances and the slow trickle of bureaucracy, the biggest obstacles to getting their undertaking off the ground are a lack of know-how and a lack of customers. She said the Rural RISE program seeks to address that first issue by consolidating information in a newsletter and on the Secretary of State’s website at SOSNC.gov/rural-rise.
During Tuesday’s discussion, Marshall said she was impressed at just how informed Pitt and Beaufort county business owners were at what resources are available to them. Tiana Berryman, co-owner of Sprouts Playground and Studio in Greenville, said that she and her husband, Kevin Berryman, look for opportunities to hire early childhood education majors from ECU and work with a local therapy clinic to create opportunities for their patrons.
Marshall said that the educational foundation of ECU, Pitt Community College and Beaufort Community College gives the area access to important resources.
“This area is rich in resources and this discussion highlighted how helpful those were to these particular entrepreneurs,” Marshall said. “Hopefully that’s a tip or a hint for other entrepreneurs who have not availed themselves to the type of resources that are available to the community college or entrepreneurship center here. Just go do it, test it out, see.”
Business owners were complementary of local education systems, too. A handful said they benefitted from local programs while one, Logan Modlin of Enlighten LLC in Washington, said that he is impressed with Pitt County’s Tradesformers youth apprenticeship program. He has found trouble locating skilled workers locally for his electrical engineering company.
BCC President David Loope said the college is aiming to start a center for skilled trades.
Kathy Herring, owner of KDL Construction, said she hopes to use some of the resources she learned about Tuesday to develop her growing business. She said a major concern in her field is a lack of affordable housing amid the region’s growth.
“I think that we have got to do something to make it possible for your 20-somethings, 30-somethings, your teachers, firefighters, nurses to get into real estate market in the ownership of homes. I would like to see our community work more at affordable housing and how we can build more affordable homes as a gateway into home ownership.”
Greenville business owners April Kelly of Sure!, a plant-based infant formula company, and Kia Hewett and Kim Heinen, owners of Open House Baking, said that they felt a “roadmap” or checklist of steps an entrepreneur should take would have been helpful at the start of their ventures.
Other business owners like Jay Neuholt, of New Spices and Seasonings in Washington, said that supply chain issues continue to be a burden after the COVID-19 pandemic. Tim Jackson, co-owner of Two Rivers Alehouse in Washington echoed that concern and also said inflation and fees can be a major hit to profits.
“Inflationary cost, the cost of goods like grains and those types of things that have escalated,” Jackson said. “To give you an example, the fees that are on credit card that you take, actually the fees on the revenue that we generate in a month’s time, actually outruns what our rent is.”
Marshall was concerned at that remark. She questioned if Pitt or Beaufort counties have an ombudsman of sorts to guide entrepreneurs through their permitting process and told the assembled officials it was a step to consider.
Leaders seemed to benefit from Tuesday’s discussion. PCC President Lawrence Rouse said that his institution is looking at ways to connect with small business owners.
“We think we’re on our way,” Rouse said. “We have a new Small Business Center director, she’s bringing a lot of great ideas. We’re getting ready to put in place a small business incubator at our Farmville center, and we also have a small business resource fair which will be on June 15 at the Goess Building on campus.”
Winterville Town Councilwoman Veronica Roberson said she was glad to learn about the types of new businesses in the area. She felt the discussion highlighted the work of local chambers of commerce and initiatives that help entrepreneurs develop their idea.
“The thing that stood out to me was all of them spoke about the regulation and the paperwork,” Roberson said. “I know that is a real struggle for them and in talking to our economic development person I’ll mention that. Can you somehow help new businesses with their paperwork, with their regulations to have a smoother transition?”
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