Chatham entrepreneurs share tips, challenges with NC Secretary of State

PITTSBORO, N.C.  — From Pilates in Pittsboro to upscale resale in Siler City, Chatham entrepreneurs shared their business successes, dreams, and challenges with North Carolina Secretary of State Elaine Marshall during a recent roundtable discussion hosted by CCCC’s Chatham Small Business Center on the college’s Chatham Main Campus.

Secretary Marshall has been visiting communities across the state to connect with local small business leaders and spread the word about Rural Rise NC. That’s an initiative her office has been pursuing to help small businesses connect with resources that can help them succeed. 

“The commitment she has made over the years and the passion and energy she provides every day to support small business have made a huge difference,” CCCC President Dr. Lisa M. Chapman said. “Over 2 million businesses have been started since Secretary Marshall has been in the role. We could not have done that without her leadership.”

New business startups in North Carolina increased significantly coming out of the pandemic in 2021 and have remained high each year ever since. That’s great for the state, Secretary Marshall explained, but she said small business owners need to access help quickly to improve their business’ chances of survival.

“We know that in three years, we lose 25% of those new creations,” she said. “We know that at seven years we lose 50%. Those odds are terrible.”

If the state can help just 5% of aspirational businesses become self-sufficient, that would result in 24,500 new jobs annually and $1.5 to $2 billion in economic impact, Secretary Marshall said.

During the roundtable discussion, Secretary Marshall encouraged participants to discuss the challenges they faced, as well as the resources they have found most helpful in addition to the assistance they’ve received from the Chatham Small Business Center.

Some of the challenges they discussed included funding, marketing, infrastructure, tariff costs, and sales tax collection questions. Other resources they recommended included local government leaders and WEBB Squared, a nonprofit that aims to address the economic challenges faced by under-represented entrepreneurs, particularly in rural areas of the state.

Secretary Marshall said these entrepreneurs are putting their futures on the line for their families and making sacrifices that benefit the economy and vitality of the county.

“You know it comes with challenges,” Secretary Marshall said. “But you are in a great spot, a sweet spot here in North Carolina for great success.”

CCCC’s Chatham Small Business Center provides trained counselors that work to increase the success rate and number of viable small businesses in the area. Counselors offer assistance to prospective and existing small business owners. Book a free appointment at  Chatham SBC Counseling. For additional information about resources available to small business owners in rural North Carolina visit Rural Rise NC.