How to Finance a New Business in Greensboro/Guilford County

May 11, 2026

Key Takeaways

Greensboro’s financing ecosystem spans SBA loans, community banks, and local CDFIs, giving business owners more options than most realize.
Matching the loan type to the specific use of funds is just as important as finding the right dollar amount.
If a traditional lender has said no, mission-driven CDFIs like Piedmont Business Capital and CSBDF were built specifically for that gap.
Free counseling from the GTCC Small Business Center, NC A&T SBTDC, and the Nussbaum Center can meaningfully strengthen a loan application before it’s ever submitted.
Equity financing through angel investors or venture capital is a strategic fit for high-growth startups, but most Greensboro small businesses are better served by debt financing first.

According to the SBA’s Office of Advocacy, small businesses make up 99.6% of all businesses in North Carolina, and Greensboro is no exception. Since most of these businesses start without sufficient startup capital, many businesses turn to financing. The options, fortunately, are more varied than most people realize.

From SBA-backed loans to Greensboro-based community lenders built specifically for underserved entrepreneurs, this guide maps the financing landscape in Guilford County so you can find the right fit for where you are and where you’re headed.

When Should a Small Business Consider Receiving Financing?

Financing makes sense when the cost of borrowing is lower than the opportunity, stability, or growth it enables, and when your business can realistically service the debt.

Financing works best when it helps grow your business, solves a short-term problem, or invests in something that will generate revenue. Taking on debt to cover a fundamental viability problem rarely ends well. However, a loan that unlocks real revenue, covers a productive asset, or bridges a temporary gap can be a genuine tool for the business.

What Financing Options Are Available in Greensboro, NC?

Finance companies in Greensboro, NC, range from national SBA lenders with local branches to mission-driven nonprofits operating blocks from downtown. The right option depends on your stage, credit profile, intended use of funds, and how quickly you need capital.

Review the following primary financing options available to small businesses in Greensboro:

1. SBA 7(a) Loans

As the most widely used SBA loan program in the country, the 7(a) earns its popularity through sheer flexibility. Funds can cover working capital, equipment, real estate, or refinancing existing debt, making it one of the few options that work across a broad range of business needs.

Most lenders require a credit score of 650–680 or higher, and because underwriting is thorough, expect 30–90 days from application to funding.

Best for: Growing or established businesses needing flexible capital. Startups with strong business plans and solid personal credit can qualify, though the bar is higher without operating history.
Less ideal for: Businesses that need capital fast or are navigating credit challenges.

2. SBA 504 Loans (via BEFCOR)

Where the 7(a) is flexible, the 504 is purpose-built for major fixed-asset purchases: commercial real estate, construction, large equipment, or significant renovation. The structure involves three parties, with a bank financing roughly 50% of the project, BEFCOR (a North Carolina nonprofit and SBA Certified Development Company) financing 40%, and the business contributing as little as 10% down.

Fixed rates and long terms of 10, 20, or 25 years keep payments predictable. Loan amounts run from $25,000 to $5.5 million, and startups under two years old can still qualify with a 15% down payment.

Best for: Established businesses purchasing property, building out a facility, or making a large equipment investment. Manufacturers, medical practices, logistics companies, and food businesses are frequent users.
Less ideal for: Businesses needing working capital or flexible funds, since 504 proceeds are restricted to fixed-asset purchases.

3. Community Bank and Credit Union Loans / Lines of Credit

Greensboro has a strong community banking tradition, and for businesses with established credit and banking relationships, it remains one of the most straightforward paths to capital. Term loans deliver a lump sum on a fixed repayment schedule, while revolving lines of credit give businesses ongoing access to funds as cash flow demands.

Funding typically arrives in one to three weeks, and the relationship built with a local banker often pays dividends well beyond a single transaction. Conventional underwriting standards apply, so businesses with credit challenges will find this route more difficult.

Best for: Established businesses with solid credit and existing banking relationships looking for working capital or moderate growth capital.
Less ideal for: Startups without a financial history or businesses that have had credit difficulties.

4. SBA Microloans

The SBA Microloan Program provides up to $50,000 through nonprofit intermediary lenders, making it a dedicated option for early-stage businesses that need a modest capital injection to get moving. Personal credit and business plan quality still factor into approval, and the GTCC Small Business Center can connect Guilford County entrepreneurs with approved lenders and help them build a competitive application.

Best for: Startups and early-stage businesses funding operational expenses, initial inventory, or modest equipment needs.
Less ideal for: Businesses needing more than $50,000 or those on a tight timeline.

5. Piedmont Business Capital

Founded in 1992 as the Greensboro Venture Capital Fund, Piedmont Business Capital (PBC) is now a Treasury-certified Community Development Financial Institution (CDFI) headquartered in Greensboro, and one of the most important finance companies in Greensboro, NC, for underserved entrepreneurs. Its mission centers on serving businesses that traditional lenders have overlooked.

PBC offers smaller loan amounts suited to early-stage and underserved businesses, along with subordinated debt, equity investments, and credit-builder products, with an active focus on MWBE lending, healthy food businesses, and community-oriented enterprises. For companies incubating at the Nussbaum Center for Entrepreneurship, PBC also runs a Tenant Loan Program in partnership with the Center.

Best for: Minority- and women-owned businesses, veterans, and entrepreneurs who’ve been declined by traditional lenders, run food businesses, and or are early-stage companies at the Nussbaum Center. PBC provides meaningful access to business financing for women and small business financing for veterans that conventional lenders often cannot match.
Less ideal for: Businesses that qualify comfortably for conventional financing and don’t need the CDFI’s flexibility.

6. Carolina Small Business Development Fund (CSBDF)

A statewide nonprofit CDFI and SBA Community Advantage lender, CSBDF lends up to $350,000 to both startups and existing businesses across North Carolina, with a particular focus on founders who haven’t been able to access traditional financing.

Worth knowing before you apply: CSBDF requires an initial counseling session with their Business Solutions Team, a step that adds time but helps founders identify the right financing structure before they commit to one.

Best for: Startups, businesses that don’t meet conventional lending criteria, and entrepreneurs who would benefit from technical guidance alongside their capital.
Less ideal for: Businesses that need funding quickly, since the required counseling step extends the timeline.

7. Angel Investors and Venture Capital

Equity financing differs from debt in one fundamental way: investors provide capital in exchange for an ownership stake, sharing both the upside and the risk. For high-growth startups with scalable business models, that exchange can make good strategic sense. However, for lifestyle businesses or service operations without significant growth ceilings, other financing types are almost always a better fit.

North Carolina’s venture capital ecosystem is concentrated in the Research Triangle, which means Greensboro founders often need to cast a wider net. The NC SBTDC’s private equity services actively connect growth companies with angel funds and VC networks statewide, and Launch Greensboro’s ecosystem, including Greensboro Startup Week, puts founders in front of investors already looking at Triad companies.

Best for: High-growth, scalable startups in tech, advanced manufacturing, biotech, or SaaS willing to exchange equity for capital and strategic investor relationships.
Less ideal for: Founders who aren’t prepared to share ownership and control, or businesses without a clear high-growth trajectory

How to Finance a New Business: 6 Tips

Know what you’re financing before you apply: Lenders want specifics. “Working capital” is too vague, so come prepared to name the exact expense, the timeline, and the expected return.
Get your documents ready before you need them: Most lenders require 2–3 years of tax returns, recent bank statements, a P&L, and a business plan. Get ahead of it before the clock starts running.
Match the loan to the asset: Use long-term financing like an SBA 504 for long-term assets like real estate. Mismatching loan type and asset life is one of the most common cash flow mistakes small businesses make.
Don’t overlook mission-driven lenders: If a bank has declined you, or if you’re a minority, woman, or veteran business owner, CDFIs like Piedmont Business Capital and CSBDF exist specifically to fill that gap, often with technical support built in.
Talk to free local resources first: The GTCC Small Business Center, NC A&T SBTDC, and the Nussbaum Center all offer free counseling. A conversation before you apply can save you from the wrong product and strengthen your application.
Understand the real cost of fast capital: Online lenders and merchant cash advances offer speed but often carry significantly higher costs. APR is the number that matters, so always ask for it in writing before committing.

How to Choose the Right Financing for Your Business

Match your financing type to your business stage, intended use of funds, credit profile, and timeline for capital needs, because no single option works for every situation.

Practically, that means starting with a few honest questions before approaching any lender. How long have you been operating? Is this a long-term asset purchase or a shorter-term working capital need?

A startup with credit gaps is usually best served by a CDFI or microloan, while a business with years of operating history buying its building is almost certainly in SBA 504 territory.

Are There Grants Available for Small Businesses in Greensboro?

Alongside the many financing options, Greensboro has several small business grants worth knowing about. Top options include:

Check out our guide to Greensboro grant opportunities to learn more about your options.

Turn to the Greensboro Chamber of Commerce for Financing Advice and Entrepreneurial Training

Starting a business can feel overwhelming, especially when financing enters the picture. Through Launch Greensboro, the Chamber connects entrepreneurs with training, mentors, and other business owners who have been through it before. Programs like LaunchLab and Scale to Excel help support businesses at different stages of growth, whether you’re just getting started or preparing to scale.

Learn more about our small business educational programs and explore Chamber membership today.

Greensboro Startups Take the Stage: A Live Pitch Event for Founders and Investors

April 24, 2026

Greensboro’s entrepreneurial community is growing, and Greensboro Startup Week is where that growth gets its moment in the spotlight. Every spring, founders, investors, operators, and business leaders gather for one of the region’s most dynamic innovation events — five days of real conversations, hands-on sessions, and direct access to the people and capital shaping what comes next.

If you haven’t attended before, review our guide to everything you need to know about the week before you register.

Capital Connects: A Live Pitch Event for Startups

The week’s signature event, Capital Connects gives Greensboro startups a live stage at the Carolina Theater on April 30 to pitch bold ideas to investors and community leaders and compete for prizes. Similar to Shark Tank, this Greensboro-based pitch event has run for more than 20 years, launching some of the region’s most recognized companies, with past winners including Sarilla, F3TCH, Blue Recruit, Storage Scholars, and LivWell.

Picture the energy of a live pitch competition television show, applied to the startups shaping your own backyard. High-energy, high-stakes, and free to attend.

Badge registration is free, so there’s no reason not to claim your spot early.

If you’re building something, this event is for you. Startup Week as a whole draws early-stage founders, seasoned operators, venture investors, corporate leaders, and professionals from manufacturing, legal, finance, and beyond.

Students exploring entrepreneurship and experienced executives looking to connect with Greensboro startups are equally at home here. Anyone curious about the Greensboro startup investing scene will find the region’s most promising companies under one roof, alongside the investors and mentors already backing them.

What Is Greensboro Startup Week?

Greensboro Startup Week is a five-day summit built around the theme “Startups That Build Things, Industries that Matter.” Programming focuses on providing entrepreneurial and startup advice at the intersection of advanced industry, with sessions covering aerospace, advanced manufacturing, battery technology, and tech commercialization.

With 400+ attendees and 40+ sessions across the week, the event is designed for people doing the work. Conversations here turn into partnerships, pitches, and next steps. Whether you’re scaling a company, exploring a new venture, or looking to plug into the region’s growing innovation ecosystem, Startup Week was built with you in mind.

Greensboro Startup Week 2026 runs April 27 through May 1 at Launch Greensboro, 111 Bain St, Greensboro, NC. Most sessions take place at Transform – BAIN, the coworking and event space serving as home base for the week.

4 Other Key Events to Attend at Greensboro Startup Week 2026

With 40+ sessions on the calendar, these five are worth putting on your radar first:

The Future of Tech Transfer in NC: Kicking off the week on Monday, April 27, NCInnovation CEO Michelle Bolas, NC IDEA President Thom Rhue, and NC IDEA VP Tom Snyder discuss how research institutions and startups are collaborating to turn breakthrough ideas into fundable, scalable companies.
The Founders Panel: On Tuesday, April 28, Andy Zimmerman of AZ Development, Detara Williams of Made For Locs, and Matt Hanan share honest perspectives on building and scaling ventures within Greensboro’s ecosystem, covering everything from national retail expansion to downtown revitalization.
Fundraising Rules for Raising Capital: Paul Clark of Venture South takes attendees inside the venture capital process on Tuesday afternoon, covering what investors actually look for and how to move from first pitch to closed deal in today’s market.
Triad Women in Manufacturing: Leaders from P&G, Honda Aircraft Company, and Banknote Corporation of America gather on Wednesday, April 29, to discuss how modern manufacturing teams drive results across safety, quality, delivery, and beyond. This session is among the week’s sharpest panels for women operating or investing in the region’s industrial sectors.

Register for Greensboro Startup Week

Learn more about Greensboro Startup Week today. If you’re interested in attending, please book your free tickets online.

How to Find Young Professional Networking Events in Greensboro

April 6, 2026

Greensboro has one of the most active young professional communities in North Carolina, with a strong lineup of organizations and recurring events built specifically for people who are early in their careers and looking to grow. Whether you’re new to the city or getting more intentional about building connections, finding young professional networking events in Greensboro is easier than you might expect.

6 Young Professional Networking Events in Greensboro

Greensboro’s young professional landscape spans casual monthly mixers, structured weekly groups, and annual leadership summits. Check out a breakdown of the best local networking events for young professionals below:

1. Coffee & Conversation

Hosted by the Greensboro Chamber of Commerce and sponsored by Cone Health, Coffee & Conversation meets on the third Thursday of every month at Sagewell Health & Fitness. Each session pairs open networking with educational programming on topics tied to local economic development, talent, entrepreneurship, and community initiatives.

Members and non-members are both welcome, making it one of the most accessible recurring young professional networking events in Greensboro.

2. WE Connect

WE Connect is the Greensboro Chamber of Commerce’s women’s networking group, meeting monthly at the Chamber’s offices. Topics are chosen for women, by women, with a consistent focus on leadership development, empowerment, and professional education.

The group draws professionals from across industries and is open to all female-identifying individuals who want peer connection alongside targeted development.

3. synerG YP On Tap

Run by synerG Young Professionals, On Tap is a monthly drop-in networking event that rotates across venues throughout Greensboro.

Attendance is free and open to any young professional living or working in the area, with no registration required. For anyone new to the city’s young professionals’ scene, it’s a low-pressure place to get started.

4. synerG Grow Group

Grow Group meets every Tuesday morning from 8:45 to 10:00 AM and from 5:30 to 6:30 PM on the fourth monday of the month. Both meetings are held at Action Greensboro, and you can check their events page to confirm meeting times and the location.

The structured format gives each attendee a spotlight to share who they are and what they’re looking for, whether that’s professional connections, referrals, or collaborators. Young professionals who want consistent, small-group relationship building over a once-a-month mixer will find that Grow Group delivers in a way most networking events don’t.

5. synerG Lead Your City Summit

Lead Your City is synerG’s annual leadership summit, bringing together young professionals from across Greensboro for a full day of keynote presentations, panel discussions, and breakout sessions. Attendees connect with community leaders and subject matter experts who don’t typically show up at casual networking events.

Young professionals who want more than a handshake and a business card will find the summit covers both.

6. Greensboro Jaycees

The Greensboro Jaycees is a leadership organization for professionals aged 21 to 40, with monthly membership meetings built around networking, guest speakers, and leadership training.

The standout event on their calendar is Making Connections, a semi-annual format co-hosted with synerG that places young professionals in rotating small-group conversations with established community leaders across healthcare, design, economic development, and more. Mentorship and peer connection sit side by side here in a way few other organizations offer.

How to Network at an Event: 5 Young Professional Networking Tips

If you want to make the most of your time networking, make sure to follow these five young professional networking tips:

Prepare a short introduction: Before you walk in, have a clear, practiced answer to “so, what do you do?” It doesn’t need to be scripted, but it should cover who you are, what you do, and what you’re looking for. Fumbling through that introduction in the first conversation of the night can cost you momentum early.
Set a goal before you go: Decide in advance what a successful event looks like for you. It might be meeting three new people in a specific industry, or having one meaningful conversation rather than ten forgettable ones. A small, specific target keeps you focused without making the evening feel transactional.
Lead with curiosity, not a pitch: The professionals who build the strongest networks focus on the other person first. Ask questions, listen, and find out what someone is working on before you redirect to yourself. Being genuinely curious leaves a stronger impression than being impressive.
Be proactive about starting conversations: Waiting to be approached is a habit that costs you more connections than it saves you comfort. Look for groups with an open spot or people standing alone, and introduce yourself. Most people at a networking event are there for the same reason you are.
Follow up within 48 hours: A LinkedIn message or brief email within a day or two is what separates a conversation from an actual relationship. Reference something specific from your exchange so the follow-up feels personal rather than generic.

Find Your Next Networking Event at the Greensboro Chamber of Commerce

At the Greensboro Chamber of Commerce, we’re proud to help young professionals grow their network and build invaluable connections in the Greensboro area. Review our events page to find our upcoming networking events. If you’re interested in getting more involved in the Chamber, check out the opportunities we provide to our members.

Why Greensboro Is the #1 City for Small Businesses in NC

March 18, 2026

Greensboro earned its #1 ranking among North Carolina cities for small businesses in 2025, according to a report by B2B Reviews that evaluated 49 of the state’s most populated cities across five business-critical metrics. The recognition reflects a combination of quantifiable advantages — from tax rates and real estate costs to workforce depth and entrepreneurial infrastructure — that make the Gate City a standout destination for business owners.

Why Greensboro Is One of the Best Cities in NC to Start and Grow a Small Business

Greensboro’s top ranking wasn’t based on a single standout factor. From the lower cost of doing business to the depth of local support, the city checks a lot of boxes that matter to small business owners.

Learn more about the top eight reasons Greensboro continues to stand out as one of the best places in North Carolina to build a company:

1. One of the Lowest Sales Tax Rates in North Carolina

Greensboro’s combined sales tax rate of 6.75% was one of the primary drivers of its #1 ranking, and it’s a meaningful advantage for small businesses managing tight margins. Both Charlotte and Raleigh carry a 7.25% rate, and Greensboro’s rate is among the lowest available in any of North Carolina’s major cities.

North Carolina also ranks #4 in the nation for the lowest corporate tax rate. As a result, small businesses in Greensboro benefit from a favorable tax environment at both the state and local levels.

2. Affordable Commercial Real Estate

The average cost of commercial real estate in Greensboro sits at roughly $15.66 per square foot, a significant contrast to the $29.59 per square foot average in Charlotte and $27.94 in Raleigh.

For small businesses, this significant gap in real estate costs translates directly into lower overhead, greater flexibility in choosing a location, and more capital available for growth. Whether you’re opening a storefront, leasing office space, or looking for room to expand, Greensboro’s real estate market is one of the most accessible in the state.

3. A Deep and Growing Workforce Pipeline

Greensboro is home to UNC Greensboro, NC A&T State University, and Guilford Technical Community College, with 18 regional colleges and universities contributing to a pool of more than 100,000 undergraduate students in the area. This talent pipeline is a genuine competitive advantage for Geensobro’s small businesses when it comes to hiring, especially as the city’s tech sector has seen substantial job growth in recent years.

The Greensboro Chamber of Commerce also works directly with local colleges and universities to help businesses connect with qualified candidates.

4. A Strong, Established Business Ecosystem

Greensboro accounts for 3.86% of all employer firms in North Carolina, ranking it in the top five statewide for that metric. That figure matters because it reflects a business community where companies are not only launching but sustaining themselves over time.

Small businesses here operate alongside an established network of industries in aerospace, life sciences, advanced manufacturing, and financial services, creating a stable economic environment with real cross-sector opportunity.

5. Steady Population Growth and an Expanding Customer Base

Greensboro’s population grew 2.73% from 2020 to 2024, rising from 299,190 to 307,381. This steady upward trend signals consistent growth in the local consumer base.

With a current population of more than 307,000, the city offers small businesses a substantial and growing market without the congestion and costs that come with North Carolina’s largest metros. A growing city means more potential customers, more hiring opportunities, and a stronger long-term foundation for businesses at every stage.

6. Geographic Reach and Logistics Advantage

Roughly 50% of the U.S. population lives within 650 miles of Greensboro, positioning the city as an efficient hub for businesses that rely on distribution, supply chain access, or regional reach.

Proximity to I-40, I-85, and Piedmont Triad International Airport makes it easy for businesses in Greensboro to move products and connect with partners across the Southeast and beyond. For small businesses that need to serve customers outside of Greensboro, the city’s location is an asset that doesn’t always get the attention it deserves.

7. Robust Entrepreneurial Support Infrastructure

Few cities of Greensboro’s size offer the depth of small business support available here. The Nussbaum Center for Entrepreneurship, SCORE, the SBTDC, and GTCC’s Small Business Center all operate locally, providing counseling, education, and resources at little or no cost to business owners.

The Greensboro Chamber of Commerce adds to that foundation through Launch Greensboro, a suite of entrepreneurship programs including LaunchCamp, LaunchLab 101, and LaunchLab Growth that have helped hundreds of companies get off the ground and scale.

8. North Carolina’s Business Climate Makes Greensboro an Even Stronger Bet

Greensboro’s advantages don’t exist in isolation. North Carolina earned the top spot in CNBC’s 2025 rankings of America’s Top States for Business, a recognition the state has now claimed three times in four years, with high marks in economy, workforce development, and business friendliness.

This state-level strength creates a favorable backdrop for every business operating in Greensboro, from regulatory predictability to ongoing investment in infrastructure and workforce development that supports growth across the region.

Support Your Small Business With the Greensboro Chamber of Commerce

Greensboro’s #1 ranking reflects the community, infrastructure, and resources that have made this city a great place to build a business. The Greensboro Chamber of Commerce is proud to play a role in that ecosystem, offering programs, networking events, and business advisory support designed to help small business owners launch, grow, and connect with other leaders in the community.

Learn more about how the Greensboro Chamber of Commerce can support your business today.

8 Coworking Spaces in Greensboro Perfect for Small Businesses

February 4, 2026

As Greensboro, NC continues to expand as a regional business center, coworking spaces provide small businesses with professional workspace options—without the cost or commitment of traditional office leases.

What Are the Best Coworking Spaces in Greensboro, NC?

Greensboro is home to several coworking spaces that can be great options for small businesses. Take a look at the Greensboro Chamber of Commerce’s picks for the top eight Greensboro coworking spaces for small businesses:

1. THRIVE Coworking

With two locations downtown, THRIVE makes sense for small businesses that want flexibility now and room to scale later, whether that means coworking a few days a week or moving into a dedicated desk or private office. The addresses are 111 West Lewis St, Greensboro, NC 27406, and 111 Bain St, Greensboro, NC 27406.

Workspace options: Coworking memberships plus dedicated desks and private offices ranging in size.
Meeting support: Bookable meeting rooms for client meetings and team sessions.
Business basics: Mailbox options for a professional business address.

2. Nussbaum Center for Entrepreneurship

The Nussbaum Center is a strong fit for small businesses that want a work environment built around entrepreneurship, including a community of founders and business owners. It’s located in south Greensboro at 1451 S Elm-Eugene St, Greensboro, NC 27406.

Flexible terms: The center highlights no long-term commitments for office solutions, with month-to-month office rentals available.
Built for collaboration: A setting designed to connect you with other entrepreneurs.
Professional infrastructure: Meeting-ready support, day-to-day workspace services, and essentials like gigabit internet and reservable conference rooms.

3. The Grove Creative Coworking

If your team wants a campus-style environment, The Grove is located at Revolution Mill and is a good match for small businesses that value a more creative, “settle in for the day” workspace feel. On the Revolution Mill campus, the Grove has offices at the 1250 building and the 2005 building.

Included essentials: Rent includes high-speed fiber internet.
Conference room access: Built-in access to reservable conference rooms helps with client meetings.
Shared amenities: Amenities include a kitchenette, copier, open collaboration space, and coffee.

4. Venture X Greensboro

Venture X is a professional option in the Green Valley area, which can be a plus for small businesses seeking a modern, client-friendly setting and straightforward access for team members from different parts of town. The address is 701 Green Valley Rd, Suite 100, Greensboro, NC 27408.

Professional workspace mix: Coworking and private office solutions for different team sizes.
Meeting space: Conference rooms and event space options for presentations and team sessions.
Convenience: The location offers complimentary parking and doesn’t require long-term contracts.

5. Office Evolution Greensboro

Office Evolution is a good fit for small businesses seeking an office-forward environment, especially for teams that need meeting rooms, day offices, or a business address option while remaining flexible. It’s located in the Friendly Center area at 806 Green Valley Road, Suite 200, Greensboro, NC 27408.

Multiple workspace types: Offices, coworking, meeting rooms, and virtual office options.
Easy to host clients: Meeting room access supports interviews, trainings, and presentations.
Convenient building setup: Ample free parking and close proximity to restaurants and shops.

6. Renaissance Place

Renaissance Place works well for businesses based in south Greensboro that want a coworking setup closer to where employees live and commute. The address is 5900 Scotland Rd, Greensboro, NC 27407.

Coworking and office suites: Options that can support both solo workers and small teams.
Room to grow: The location has larger offices and coworking spaces across multiple floors.
Meeting capability: Conference rooms are part of the offering for client meetings and team sessions.

7. 101 Elm

If you want a downtown address with a more traditional office feel, 101 Elm is a strong option for small businesses that need private offices, daily office rentals, or virtual office services without taking on a full lease. The address is 101 S Elm St, Greensboro, NC 27401.

Private office options: One- and two-person offices plus larger traditional office suites.
Flexible access: Daily office rentals and virtual office services are available.
On-site conveniences: The building lists amenities such as a fitness facility and parking pass options.

8. Regus

Regus can be a practical match for small businesses that want a familiar, fully serviced workspace model with flexible options, including coworking and private offices. With four different office spaces in Greensboro to choose from, Regus also makes it easy for businesses to pick a convenient location for their employees.

Multiple workspace formats: Dedicated desks, day coworking, and private office options.
Meeting and business services: Business address options and meeting rooms are part of the offering.
Flexible terms: Options to rent office space from a single hour to years.

10 Quick Tips for Picking the Right Coworking Space for Your Small Business

As you consider the options listed above, make your decision easier by following these tips for picking the right coworking space:

Start with your work style: Look for a setup that matches how your team actually works, including your balance of collaboration, calls, and deep focus time.
Ensure the location is convenient: Choose a spot that makes commuting easier for your team and that feels professional and welcoming for clients.
Confirm WiFi quality: Ask about internet speed and reliability, and if possible, test it during a tour or trial day before you commit.
Evaluate your privacy needs: If you take sensitive calls, run interviews, or handle confidential work, make sure the space has phone booths or private rooms you can actually access when needed.
List the amenities you will use: Printing, meeting rooms, kitchen access, parking, and A/V support can be valuable, but only if they fit your day-to-day workflows.
Ask about flexibility: Check membership terms, hours, and how easy it is to add seats, upgrade to offices, or scale back if needed.
Evaluate the atmosphere in person: Noise levels, layout, and overall vibe affect productivity more than most teams expect, so a tour matters.
Look for quality operations: Friendly staff, a clean space, and reliable day-to-day management help reduce friction for your business.
Treat it like a business decision: Compare total costs, including commuting, membership fees, and add-ons, and ask if a trial period is available.

Turn to the Greensboro Chamber of Commerce for Additional Business Support

As you grow your company with a dedicated office space, the Greensboro Chamber of Commerce is here to support you. With a variety of networking events and business advisory programs, we make it easy for small business owners to connect with other business leaders and expand their skillset.

Learn more about how we can support your business today.

2026 Business Awards Greensboro Companies Should Apply For

January 15, 2026

One of the best ways for Greensboro businesses to raise their local profile is to be nominated for and win an award from a local organization. If you’re interested in receiving one of Greensboro’s prestigious business awards, review our guide to the primary award opportunities in the city.

4 Awards Available to Greensboro Businesses

With awards from the Greensboro Chamber of Commerce, the Triad Business Journal, and the city of Greensboro’s Office of Sustainability and Resilience, businesses have a few different chances throughout the year to be nominated for awards. Find out more about the four primary small business awards in Greensboro below:

1. Greensboro Chamber of Commerce 2026 Small Business Awards

The Greensboro Chamber’s Small Business Awards celebrate the local companies and owners who help keep Greensboro growing, from creativity and entrepreneurship to real community impact.

Each year, the community nominates standout “business heroes,” before public voting and Chamber evaluation help spotlight winners and finalists. When businesses win, they’ll receive their award at the Small Business Awards event, receiving a heartfelt thank-you for their remarkable contributions to Greensboro. Find out more about each small business award a company can be nominated for below:

Mayor’s Committee Awards: These awards recognize employers and organizations that have successfully employed people with disabilities or helped build a barrier-free community in Greensboro. They’re presented through the Mayor’s Committee for Persons with Disabilities in partnership with the Chamber.
People’s Choice Award: This community-driven award allows nominees to earn extra recognition through public support and voting.
Community Contributor Award: This award highlights an organization or individual that meaningfully supports Greensboro’s small business community, serving as an advocate, champion, and practical resource that helps others succeed.
Culture Creator Award: This recognition goes to a small business that intentionally builds an inclusive, equitable workplace culture and invests in employee well-being and development, proving that a strong culture isn’t only for big companies.
Ignition Award: This award spotlights an early-stage business that is already gaining momentum and contributing to the local economy. To be eligible, a business needs to have opened within the past three years.
Entrepreneur of the Year Award: This award recognizes a person or company whose entrepreneurial success has built a thriving, sustainable business and who continues contributing to Greensboro’s entrepreneurial ecosystem.
Small Business of the Year Award: This prestigious business award recognizes a company that demonstrates both business success and civic leadership, with community involvement, management practices, and financial performance as primary criteria.

When Can You Be Nominated for a 2026 Small Business Award?

Nominations typically open early in the year, and community members can nominate eligible Greensboro small businesses that meet the Chamber’s criteria.

When Do Nominations Close for the 2026 Small Business Award?

Deadlines are not published yet for 2026, but recent cycles closed roughly 10–11 weeks before the awards date.

2. Live Green Awards

Over the past few years, the City of Greensboro’s Office of Sustainability and Resilience has recognized local sustainability leadership through its annual Live Green Awards. The program honors businesses, individuals, and community organizations whose work advances a healthier, more resilient Greensboro, with an emphasis on initiatives that are innovative, inclusive, and environmentally responsible.

Greensboro’s Community Sustainability Council, with support from the Office of Sustainability and Resilience, created the Live Green Awards Program in 2023 to celebrate sustainability leadership across the community. These awards include:

Energy Wise Award: The Energy Wise Award honors a standout commitment to energy progress in Greensboro, including renewable energy use, energy efficiency improvements, air pollution reductions, and other innovative energy practices.
Sustainability Champion Award: The Sustainability Champion Award recognizes leaders who spread sustainability awareness and literacy while also taking action to create a more sustainable Greensboro.
Waste Not Award: The Waste Not Award spotlights exceptional sustainable waste management, including recycling, composting, waste avoidance, responsible sourcing, and waste recovery.
In Touch With Nature Award: The In Touch With Nature Award honors environmental stewardship through natural resource conservation, tree and land preservation, native plants, and sustainable landscaping, with a focus on innovative, locally meaningful practices.
Unity in Sustainability Award: The Unity in Sustainability Award recognizes sustainability leadership that centers diversity, equity, and resilience. It celebrates efforts that build inclusive environments, support marginalized communities, and develop socially just solutions to climate challenges.

When Can You Be Nominated for a Live Green Award?

Nominations open annually. For the 2026 Live Green Awards, the City accepted nominations from Nov. 3 through Dec. 5, 2025. Customers, neighbors, business partners, and other community members regularly nominate businesses for these awards.

When Do Nominations Close for the Live Green Awards?

For 2026, nominations closed Dec. 5, 2025. Deadlines can change each year, so check the current call for nominations.

3. Triad Business Journal Nominations

Triad Business Journal (TBJ) runs a slate of annual awards that spotlight standout companies and leaders across the Piedmont Triad, including Greensboro, Winston-Salem, and High Point.

For Triad-area businesses, these programs can be a smart credibility boost, especially for recruiting, sales enablement, and local PR. Many of TBJ’s awards are built around measurable impact, like employee experience, growth over time, or demonstrated leadership, which gives winners and finalists a strong story to share. If you’re interested in receiving one, please review the following TBJ awards:

Best Places to Work 2026 (nominations due January 16, 2026): This program recognizes companies with strong employee satisfaction and workplace culture, and it’s typically supported by a confidential employee survey process.
HR Impact Awards (nominations due February 5, 2026): Honors top human resources leaders in the Triad, highlighting the people shaping workplace culture, talent strategy, and employee experience.
Leaders in Diversity – Company Awards (Nominations due February 6, 2026): Recognizes organizations excelling in diversity and inclusion practices, with a focus on meaningful efforts in the workplace and community.
Leaders in Diversity – Individual Awards (Nominations due February 6, 2026): Highlights individuals advancing diversity and inclusion through leadership and measurable influence in their workplaces and communities.
Triad C-Suite Awards (Nominations due March 2, 2026): Celebrates top executives, including CEOs, CFOs, COOs, CIOs, and CTOs, recognized for performance, innovation, and leadership.
Family Business Awards (Nominations due March 26, 2026): Spotlights family-owned businesses across the Triad and the long-term leadership and community footprint that often comes with multigenerational ownership.
Fast 50 Awards (Nominations due April 30, 2026): Recognizes high-growth companies in the Triad, typically emphasizing sustained growth over multiple years and the business discipline required to scale.
Triad Commercial Real Estate Awards – Best Projects (Nominations due July 6, 2026): Recognizes the Triad’s 50 fastest-growing private companies, ranked using growth over the past three years.
Triad Commercial Real Estate Awards – Rising Star Award (Nominations due July 6, 2026): Recognizes rising stars in the Triad’s commercial real estate industry.

When Can You Be Nominated for a Triad Business Journal Award?

Nomination windows open throughout the year, and most programs accept nominations from employers, peers, clients, and sometimes self-nominations.

When Do Nominations Close for Triad Business Journal Awards?

There’s no single cutoff. Each award has its own deadline, and in 2026, those deadlines run from January 16 through July 6.

4. NC Department of Labor Safety Awards

The N.C. Department of Labor (NCDOL) Safety Awards Program recognizes private firms and public agencies across North Carolina that achieve and maintain strong workplace safety records. The goal is to promote accident prevention and encourage employers and employees to maintain a safe, healthful workplace.

Winners are recognized at regional awards events co-sponsored by local groups like chambers of commerce. For Greensboro-area employers, the Greensboro Chamber of Commerce partners with NCDOL every other year to host the local Safety Awards event, giving recipients a high-visibility moment to celebrate their safety performance with peers. The three awards provided by the program include:

Gold Award: Based on an employer’s DART rate (days away, restricted, or transferred), which reflects cases involving days away from work, restricted activity, or job transfer (using OSHA Form 300A).
Silver Award: Based on cases with days away from work only (also drawn from OSHA Form 300A), meaning incidents where an employee missed at least one full day of work (not including the day of injury).
Million-Hour Safety Awards: Given to organizations that accumulate one million employee hours with no injury or illness cases involving days away from work, with additional awards for each subsequent one million safe hours.

When Can You Apply for the NCDOL Safety Awards?

Applications open annually, with the NCDOL typically notifying employers when it’s time to submit (for 2026, NCDOL noted an email went out on January 9, 2026). Applications are due by February 15, 2026, and if you’d like to be notified about the awards going forward, join the NCDOL’s mailing list.

How to Apply for the NCDOL Safety Awards

Complete NCDOL’s online safety awards application, using your organization’s calendar year data and the requested incident-rate information.

NCDOL recommends reviewing the posted instructions and reference materials (including the rate chart) before submitting, and they encourage organizations to apply even if they don’t qualify, so they remain active in the program.

Apply for Small Business Awards in Greensboro

Interested in winning one of Greensboro’s awards for businesses? The Greensboro Chamber of Commerce is here to help. We’re proud to offer a number of programs that help entrepreneurs network, develop their skills, and foster talent at their company. The information and guidance provided at these programs can help you grow your name in Greensboro, putting you in a better position to receive an award.

Learn more about how the Greensboro Chamber of Commerce can support your business’s success. If you have any questions about our 2026 Greensboro Awards before we announce them, please contact us.

A Rundown of Small Business Tax Accountants in Greensboro, NC

December 16, 2025

If you’re just starting a new business or want to ensure your existing business follows the law and engages in healthy financial practices, you need an expert tax accountant. Find out how to pick the best small business tax accountant, and check out our list of the most well-reviewed accountants in Greensboro.

Why Are Small Business Tax Accountants Important for Startups?

Small business tax accountants help startups and new owners stay compliant, choose the right structure, and plan ahead, protecting cash flow and reducing costly mistakes. They can help offer:

Smarter business setup from day one
Fewer compliance headaches
Better use of deductions and credits
Year-round tax planning instead of once-a-year scrambling
Cleaner books that support growth and funding

11 Best Small Business Accountants in Greensboro, NC

As you look for a small business account, you can narrow your search by starting with a few of the most well-reviewed CPAs in Greensboro. Learn about 11 Greensboro small business accountants that have a strong presence in Greensboro and are frequently well-reviewed below:

1. Decimals Tax and Accounting Services

Decimals Tax and Accounting Services is a Greensboro-based firm offering tax prep and bookkeeping support designed to help small business owners stay organized and focused on day-to-day growth.

Their service scope may be a match for startups that want support with routine filings and day-to-day financial organization in one place.

2. BRC

BRC is a long-established North Carolina firm with a strong presence in Greensboro and a broad menu of services that extends beyond tax into assurance, consulting, and wealth planning.

For small businesses seeking a partner to support compliance and future planning, BRC’s services may be a good fit.

3. Chad Collins & Associates, Inc.

Chad Collins & Associates is a smaller Greensboro firm that provides a full range of business, financial, and tax services.

New owners who prefer a smaller practice and a more direct point of contact may find that Chad Collins & Associates aligns with their preferences.

4. Dimov Tax Specialists

Dimov Tax Specialists is a full-service CPA firm that serves businesses nationwide, with a Greensboro location offering local access to a larger team.

Businesses with multi-state operations or more complex tax needs may lean toward this firm, as they’re built to support that level of complexity.

5. NS CPA PLLC

Founded by Nabil Sibay, NS CPA PLLC brings 25+ years of experience and offers tailored services for individuals and businesses across the Triad and beyond.

An owner-led practice like this may appeal to small businesses that want a more personal, consistent working relationship.

6. NSKT Global

NSKT Global provides accounting, bookkeeping, and tax services with additional capabilities that can extend into higher-level advisory needs.

As a business grows, NSKT Global’s mix of services can offer businesses room to expand from routine accounting to more strategic guidance.

7. Delman & Company Certified Public Accountants

Delman & Company is a Greensboro firm offering a wide range of services that go beyond basic filing, including tax planning, bookkeeping, and management advisory support.

They also note QuickBooks-certified expertise, which can be valuable for small teams that want practical help keeping books accurate throughout the year.

8. Shahbaz, Carothers & Company, P.A

With roots in Greensboro stretching back decades, Shahbaz, Carothers & Company offers comprehensive services including accounting, auditing, bookkeeping, and tax preparation.

Businesses that prefer consolidated support across multiple accounting needs may find this breadth of services useful.

9. DMJPS PLLC

DMJPS PLLC is a sizable regional firm with a Greensboro office providing tax, accounting, assurance, succession planning, and consulting for a wide range of industries and business sizes.

Companies that expect more specialized needs over time may value having access to a deeper bench of services while working with DMJPS PLLC.

10. Debbie Brower CPA PLLC

Debbie Brower CPA is a Greensboro-based, full-service firm that emphasizes an approachable, affordable experience for business owners and independent professionals. Standard services they provide include tax prep, tax planning, succession planning, payroll, cash flow management, and strategic business planning.

Owners who want a wide range of support from a smaller practice may find this style of firm aligns with their needs.

11. Button & Button CPAs, PLLC

Button & Button focuses on accounting, payroll, tax, and related support for small and emerging businesses in Greensboro and the broader region.

Businesses that want ongoing financial management paired with tax planning may find the firm’s service coverage helpful as operations become more formal.

How to Pick a Small Business Tax Accountant

The best small business tax accountants will be properly credentialed, have expertise in your industry, and be able to meet all of your needs beyond filing tax returns.

For additional advice, review the Greensboro Chamber of Commerce’s top eight tips for picking a small business tax accountant below:

1. Verify Credentials and Confirm They are a Legitimate Tax Pro

Start by checking that your shortlist includes credentialed professionals such as a Certified Public Accountant (CPA) or an Enrolled Agent (EA), depending on your needs.

Also, always check that a paid preparer has a Preparer Tax Identification Number (PTIN) to enter on your federal tax return. Less reliable/experienced preparers (e.g., ghost preparers) won’t have a PTIN at all, meaning they’re not registered with the IRS and are more likely to make mistakes.

2. Look for Business and Industry-Fit Experience

A tax accountant who regularly works with businesses like yours can spot early pitfalls and implement best practices before things get complicated.

Industry familiarity often translates into more practical, proactive guidance because they already understand your revenue patterns, standard deductions, and compliance rhythm.

3. Define Your Service Needs Beyond Filing a Tax Return

Many founders hire help for taxes but quickly realize they also need bookkeeping cleanup, quarterly estimates, payroll guidance, or entity-structure support.

Choosing someone who can meet all your needs while advising year-round can reduce surprises and support smarter decisions as you grow.

4. Compare Fees and Watch for Pricing Red Flags

Get written quotes from multiple firms and make sure you understand whether you are being charged hourly, by project, or on a monthly package.

Avoid anyone who bases fees on a percentage of your refund or promises substantial refunds before reviewing your records.

5. Interview Outside the Busy Season

If you wait until late winter to hire an accountant, you may only get rushed conversations focused on immediate filing.

In contrast, meeting in summer or fall gives an accountant more room to understand your business, offer planning ideas, and help you set up a smoother year-end strategy.

Questions to Ask Before Hiring an Accountant

While you interview accountants, asking a few questions can help you ensure the accountant will meet your needs. Some common questions to ask a small business accountant include:

What software do you use?
Have you worked with similar businesses in the past? What accounting issues are typically in my industry?
How often will we communicate?
What is included in your monthly services?
What are your fees?
What turnaround times should I expect?
Who will be handling my account? And will that person always be handling my account?
What certifications do you have?
How long have you been in business?
Do you have references or client testimonials for review?
How do I contact you? Will I always need an appointment to speak with you?
Do you help outside of tax season?

Find Your Next Small Business Accountant Through the Greensboro Chamber of Commerce

At the Greensboro Chamber of Commerce, we regularly work with small businesses and accountants based in Greensboro. Through our networking events, entrepreneur-focused classes, and talent development initiatives, many small businesses turn to us for support as they grow. We also have a directory of local accountants that you can browse to find a trusted partner.

Review the full list of accountants registered with the Greensboro Chamber of Commerce today. If you’d like additional support growing your business, check out our resources and classes for entrepreneurs.

How Greensboro Leaders Are Building AI Fluency

October 15, 2025

Recently, when more than 120 Greensboro professionals gathered for Action Greensboro’s “AI Fluent in a Day” workshop, only a handful said they’ve built their own AI chatbot. But when the workshop was over, nearly every participant walked out with AI tools they’d created themselves.

Led by Dr. Mustafa Akben, Assistant Professor of Management and Director of Artificial Intelligence Integration at Elon University, and his team, the professional development session addressed one of the most pressing workforce challenges identified in Action Greensboro’s 2025 Talent and Workplace Survey: AI is no longer a buzzword in Guilford County workplaces.

“Our survey respondents told us that AI is here — embedded in data analytics, automation and customer service operations,” says Cecelia Thompson, Executive Director of Action Greensboro. “This workshop made sure that professionals at all levels, across all sectors, have the tools they need to thrive in an AI-enabled workplace.”

What made this workshop different was its practical, hands-on approach. Akben showed the audience how AI can help generate reports, create presentations, analyze data and produce content. And he didn’t sugarcoat the workplace implications of AI adoption.

“AI is the new baseline,” Akben says. “Your boss will say, ‘I can do this project with AI,’ so you have to make the output better with your human-level skills. What are you bringing to the table?”

Rather than positioning AI as a replacement for human workers, Akben introduced the concept of “co-intelligence,” living and working alongside AI as a collaborative partner. He encouraged participants to use AI strategically: generate ideas, improve efficiency and offload mundane tasks.

“The more you practice with it, the more you see the benefits,” Akben says. “Use AI to advance different parts of your work. You don’t have to use it for everything. Protect the work that’s meaningful for you. Keep the work that requires creativity, critical thinking and personal connection.”

Akben positioned workshop participants not just as AI users, but as leaders who will shape how AI is deployed in their organizations and community.

“You can direct our investment and attention into AI,” Akben says. “We can demand equity, accessibility, privacy, and ethical and responsible uses. It’s our future.”

5 Local Leaders Share Their Thoughts on the Workshop

Throughout the day, we talked to several participants about how they’re using AI and what they learned from the workshop. Here are a few responses:

Heather Renshaw, Chief Advancement Officer, Family Service of the Piedmont

“The workshop provided a lot of ‘aha’ moments on how AI might be useful in my workplace. It spurred me to think about how using AI on small to medium-sized tasks could be helpful.”

Raven Jefferson, Partnership Development Manager, High Point Schools Partnership

“Developing my own AI tool was the most interesting and valuable part of the workshop. It allowed me to apply what we learned in a hands-on way and see the potential of AI in real-time.”

Cassie Dean, Director of Communication & Outreach, Guilford County Partnership for Children

“We are preparing children for a future that will center around AI as a source of growth and knowledge. It is our responsibility to learn to use AI and create a world that is safe, healthy and prepared to handle these changes in learning and development.”

Sarah Hintze, Account Supervisor, Our State Magazine

“AI is constantly evolving, and I believe it’s my responsibility to stay updated on its capabilities and how it could apply to my role and business.”

Dana Clukey, Senior Planner, City of Greensboro

“There are so many benefits to using AI and the opportunities evolve every day. The biggest benefit to me is the time savings that it can offer, but it also helps me think outside the box and spurs my creativity.”

By Jessica Levco

Greensboro Entrepreneurs: Your Guide to Financial Planning

October 8, 2025

If you’re interested in growing your business without constantly taking on debt or scrambling to find extra money to pay off debt, review our guide to financial planning for Greensboro-based entrepreneurs:

The Basics of Financial Planning

A financial plan is a document that includes details and strategies for improving your current financial situation and meeting your short-term and long-term financial goals.

Creating a financial plan helps entrepreneurs:

Pay bills on time
Identify and set priorities
Make a schedule to pay off debt
Set aside money for emergencies
Develop a plan for growing their business responsibly

3 Financial Planning Tips for Entrepreneurs in Greensboro, NC

Review our top three financial planning tips, especially for Greensboro entrepreneurs, below:

1. Understand Your Existing Finances and Create SMART Goals Based on Them

Start by listing your income, fixed monthly costs that don’t change (like rent), variable costs that do change (like supplies), any debt, your savings, and your business bank accounts. Next, calculate how much cash you spend each month and the minimum sales needed to pay bills.

Potential Actions to Take If You Find High or Unsustainable Expenses

As you list your expenses and income, you may find some costs that are too high to remain sustainable. Some common actions entrepreneurs take to reduce unnecessary expenses include:

Refinance high-interest debt: If you have a loan with a high interest rate, consider taking a new loan with a lower rate to pay it off. This new loan can reduce your monthly costs and the total you pay over time. Refinancing also provides your business with the opportunity to adjust your payment frequency to one that better suits your needs.
Reduce discretionary costs: Discretionary spending refers to nonessential costs that businesses can eliminate or adjust without directly affecting their core operations. Some common discretionary costs you might consider eliminating or scaling back include travel, investments unrelated to day-to-day operations, marketing, subscriptions for nonessential software, and entertainment-related spending.
Create a conservative budget: In general, most small businesses need to stick to a more conservative budget that anticipates uneven income in the early stages. To create a conservative budget, it should be based on the expectations of low income and high expenses. This approach prepares your company for the worst and often leaves businesses with extra cash at the end of the month due to higher-than-expected income or lower-than-expected costs.

How to Create SMART Goals

Once you have a comprehensive understanding of your expenses and have an idea about some actions you could take to reduce them (if needed), you can begin to create SMART goals to help you achieve them.

To successfully create them, your business’s goals should be:

Specific
Measurable
Achievable
Relevant
Time-bound

Example of a SMART Goal for Entrepreneurs

Non-SMART Goal: I want my business to increase sales.
SMART Goal: Over the next six months, I plan to increase sales by an average of $5,000 per month.

2. Include Core Financial Best Practices in Your Plan

Whether it’s building a contingency fund or monitoring cash flow, you set your business up for future success by adding a few implementable financial best practices to your plan. These best practices include the following tips:

Separate Personal and Business Money

Instead of using your personal checking account or credit card to pay for your business expenses, open a business checking account and a business credit card. These new accounts should be used exclusively for business expenses and never for personal purchases.

Keeping money separate makes bookkeeping and tax filing easier, while also helping to protect your personal assets if your company is an LLC or corporation.

Keep Your Compensation Reasonable

Unless you’re planning on not taking a salary for some time, you’ll need to decide on sustainable owner pay.

Generally, owner compensation should cover your personal budget (meaning it’s sufficient for you to live on) without being so high that it starts draining the cash your business needs for day-to-day bills.

The U.S. Chamber of Commerce also offers a fairly detailed resource for calculating a business owner’s salary, which we recommend reviewing when determining your salary.

Build a Contingency Fund to Stay Resilient

Save an emergency fund for unexpected expenses, such as a broken machine or a slow month. Keep this money readily available, such as in cash or a savings account.

To build your contingency fund, allocate a percentage of your monthly revenue to be automatically transferred to the account each month.

Greensboro Chamber of Commerce Tip: Aim for at least three to six months of operating expenses when building your contingency fund. This buffer buys time to adapt during a challenging business period.

Create and Monitor Your Budget

Create a practical operating budget. List fixed costs like rent, payroll, and software, and variable costs like inventory and marketing.

Next, compare those costs to a realistic expectation of the revenue your business will generate each month and over the next year. Doing so will give you an idea of how much extra cash you can expect to have each month once all your expenses are covered.

Each week, compare what you planned to what you really spent and earned. Follow up on late payments, and try to buy big items when you have cash coming in.

Plan for Local, State, and Federal Taxes Year-Round

As a self-employed entrepreneur, you’ll need to pay quarterly payments to North Carolina and the federal government. While the penalties for missed quarterly payments are fairly low (under 1% currently), they can still be expensive if you have a lot of taxable income.

Do your research on how much you’ll owe each quarter, and set aside a percentage of every dollar you earn that matches the tax you’ll need to pay. Keep this taxed income in a separate account and ensure that you pay your taxes by the quarterly due date.

Greensboro Chamber of Commerce Tip: Don’t forget local taxes! You should check how much you owe to Greensboro, as the city taxes real property (e.g., commercial buildings and land) and personal property (e.g., equipment and machinery). You’ll also need to pay sales taxes to Guilford County.

3. Decide What Outside Assistance You Plan to Rely On

Any entrepreneur will eventually need outside assistance. Whether you’re raising capital, securing needed insurance, or finding a CFP, external partners and advisors can be essential to a new business’s success.

While looking for external help, follow these tips:

Choose Funding Sources Strategically, Not Emotionally
When looking for funding, start with low-risk money like savings, small grants, or help from friends and family. Raise only enough to reach your next goal, and understand the tradeoffs, such as giving up ownership or adhering to repayment rules.

Greensboro Chamber of Commerce Tip: If you’re unsure about raising capital, it can be well worth taking the time to join entrepreneurship programs in Greensboro that provide education on securing funding. Look for programs that also have opportunities for mentorships and networking.

Manage Risk With the Right Insurance
List the biggest things that could go wrong at work, and purchase insurance that protects your business from those risks.

Typically, most businesses will start with three common policies: General Liability (injury or damage claims), Property Insurance (damage to buildings, equipment, inventory), and Professional Liability for service businesses (claims that your advice or work caused a loss).

You may also need Cyber Liability or Business Interruption depending on your operations.

Work With a Fee-Only CFP and CPA Who Understands Entrepreneurs
Hire a fee-only Certified Financial Planner and a Certified Public Accountant who puts your interests first. They can help choose a business type, improve your financial plan, reduce taxes, and test big decisions. Meet twice a year to refresh your goals and plan.

Greensboro Chamber of Commerce Tip: Contact our team to receive recommendations for local CFPs and CPAs who have successfully worked with Greensboro entrepreneurs.

Connect With the Entrepreneur Center in Greensboro, NC, for Financial Planning Assistance

If you’re an entrepreneur ready to create your financial plan in Greensboro, the Greensboro Chamber of Commerce is ready to serve you. Our entrepreneur center in Greensboro, NC, is home to a variety of programs directed toward helping entrepreneurs. When you join one of our programs or contact us for assistance, a member of our staff can provide financial planning advice and connect you with trusted CFPs and CPAs.

Learn more about our Entrepreneur Center today!

A Guide to the City of Greensboro, NC Business License

September 11, 2025

If you’re planning on operating a business within Greensboro, you may have to apply for a business privilege license or a business permit from the city. While the state of North Carolina has specific licenses for different types of businesses (no general NC business license exists), the city of Greensboro also has specific permitting and licensing requirements that some businesses will need to meet.

Before launching your company, review our guide to the city of Greensboro’s NC business licenses to make sure you’re covered legally.

What Business Licenses Does the City of Greensboro Issue to Business Owners?

While you can find more specific permits (e.g., those for food trucks) on Greensboro’s Permits & Licenses page, business privilege licenses and business permits are the two main licenses the city of Greensboro issues to local companies.

What Is Greensboro’s Business Privilege License?

The business privilege license in Greensboro, NC, is a required authorization for certain types of businesses operating within the city’s limits. Specifically, it applies to businesses such as taxicabs and those involved in the sale of beer and/or wine.

The license must be obtained before beginning business operations, and its renewal is annual.

What to Know About Greensboro’s Privilege Licenses

For more details on Greensboro’s privilege licenses, review the following information:

Required for: Taxi cabs, and businesses that sell wine or beer within Greensboro’s corporate limits
Coverage periods: July 1 – June 30 (Taxicabs); May 1 – April 30 (Beer/Wine retailers)
Renewal deadlines: July 1 for taxicabs; May 1 for beer/wine sales.
Penalties: 5% late fee per month (up to 25%) and possible retroactive taxes if operating without a license.
Fees: $5–$15 for most beer/wine licenses, $15 for taxicabs, and up to $62.50 for wholesale beer & wine.
Multiple licenses: An additional 10% fee for each extra license under the same owner.

How to Apply for a Business Privilege License in Greensboro

New businesses must fill out and submit a Privilege License Application to the city of Greensboro. While you can fill out a hard copy, they have an easy online submission system for applications.

Once you’ve completed the application and submitted it, you can pay for your privilege license at the City’s Collections Division in the Melvin Municipal Office Building.

If you already have a business privilege license, you only need to pay for a license renewal. Renewal payments for beer/wine privilege licenses are due May 1, while those for taxicabs are due July 1.

What Is Greensboro’s Business Permit?

The Business Permit is a required authorization for specific types of businesses operating within Greensboro, NC. It applies to peddlers, itinerant merchants, mobile food vendors, commercial solicitors, and massage businesses that are physically located within city limits.

What to Know About Greensboro’s Business Permits

For more details on Greensboro’s business permits, review the following information:

Required for: Peddlers, itinerant merchants, mobile food vendors, commercial solicitors, and massage businesses.
Coverage period: July 1 – June 30 each year.
Renewal deadline: July 1 annually.
Fees: Free for most permits; $50 annual fee for mobile food vendors.
Application timing: Must be obtained before or on the first day of business operation.
Enforcement: Businesses without the proper permit risk revocation of the permit or business closure.

How to Apply for a Business Permit in Greensboro

New and existing businesses that need a business permit should submit their application via the online business permit application. If you’d like to fill out the application by hand, you can visit the Melvin Municipal Office Building (Room 11, UG Level) or call the City’s Collections Division at 336-373-2501 to receive an application and permit.

These applications must be submitted before or on the first day of your business operation. The accepted application will cover the period of July 1 through June 30, with renewals due on July 1 each year.

Difference Between Business Permits and Business Privilege Licenses

The business privilege license is a tax requirement for alcohol sales and taxi operations, while the business permit is a regulatory safeguard for specific business types with more oversight needs.

The business privilege license applies specifically to taxicabs and businesses that sell beer or wine. It is essentially a local tax on these business activities, with fees that vary depending on whether the business sells beer, wine, or both, and whether it’s wholesale or retail. Operating without this license can result in retroactive taxes and monetary penalties.

In contrast, the business permit applies to businesses that require closer oversight because of their type of activity. Unlike the privilege license, most permits are free, with the exception of a $50 fee for mobile food vendors.

Instead of functioning as a tax, the business permit is designed to ensure compliance with zoning, public safety, and infrastructure use. Failing to obtain this permit can lead to business closure rather than financial penalties.

Greensboro Business License vs. Business Permit Chart

How Can I Find Out If North Carolina Has Any Business Licenses Required for My Business?

While not all businesses will need a license from the state of North Carolina, there’s a good chance your business likely requires one. Fortunately, you can quickly check if your business requires a license issued by the state via NC BOLD.

You can also review our guide to starting a business in NC to make sure all your bases are covered.

Take Your Business to the Next Level With the Greensboro Chamber of Commerce

Whether you’re opening up your first business or working on your fifth, the Greensboro Chamber of Commerce can help. We run a variety of entrepreneurship programs to give new business owners the resources and know-how they need to launch their business. Alongside these programs, business owners can take advantage of our networking events, talent development resources, and mentorship opportunities.

Learn more about how we can serve your business today.