Owning A Business Brings Many Challenges

Small businesses run the economy The 2014 annual report by the North Carolina Small Business Technology and Development Center states there are over 800,000 small firms in the state that employ 1.5 million people. They account for 45 percent of private sector employment and contribute nearly one-half of the gross state product. Small firms, which are those that have less than 500 employees, created more than half the jobs in North Carolina in 2012, and a majority of those employed between 20 to 99 people.

According to the report, researchers at George Washington University found that in addition to improving a business' chance of survival, clients who received face-to-face counseling on business plans, marketing plans or financial strategy were significantly more likely to report positive financial outcomes. On average, DCCC Small Business Center clients have three times the revenue growth and six times the employment growth of North Carolina businesses that do not receive assistance.

Larson said between the Small Business Center and all of its local partnerships, there are plenty of resources to increase the possibility of the success of any new business.

"It is important for people to get in touch with us early before they do anything rash, like sign a lease," she said. "We can refer you to CPAs, financiers, project managers and other professionals that can really take a look at (what) they need to make it. ... Most businesses don't make much, if any, money in their first year. It take lots and lots of patience and persistence to make a successful business."

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  1. oumy
    Jan 24, 2015 - 10:10 PM

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    • WWR Editor
      Jan 25, 2015 - 11:46 PM

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