Tag: small business

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.

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.

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.

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 Quick & Easy Guide to Small Business Insurance Options in North Carolina

May 14, 2025

Navigating the world of small business insurance can feel overwhelming, but it doesn’t have to be. Whether you’re launching a new venture or growing an established company, the right insurance coverage helps you manage risk and protect your future.

If you’re starting a small business in North Carolina, you’ll need to decide what insurance you’ll be purchasing. While North Carolina only requires businesses to purchase commercial auto insurance (for businesses that own vehicles) and workers’ compensation (for businesses with three or more employees), you can find a few other types of insurance plans that can be well worth the cost.
As you try to reduce your business’s financial risk, you should be aware of the primary types of small business insurance in North Carolina and what businesses they’re best for.

The 9 Types of Small Business Insurance in North Carolina

From general liability insurance and workers’ compensation to business owners’ policies and commercial auto insurance, you have lots of small business insurance options. Before you make a decision on which plan you need, take a moment to review the nine most common types of small business insurance plans in NC below:

1. General Liability Insurance

General liability insurance is the most popular type of small business insurance in North Carolina since it protects companies from common liability issues. For example, personal injury by a third party, property damage, and bodily injury are typically covered by general liability insurers. If your business has this insurance, you’ll be covered if you or an employee damages property that isn’t owned by your company or if a non-employee gets hurt.

2. Commercial Property Insurance

Another very common type of small business insurance in North Carolina is commercial property insurance. This type of insurance policy protects your equipment and property from loss, damage, or theft, making it a good choice for any company with expensive property and equipment. However, if your business primarily relies on remote workers, you may be able to skip this insurance without taking on much risk.

3. Business Owner’s Policy

If you plan to purchase general liability and commercial property insurance, you might want to consider a Business Owner’s Policy (BOP). This type of insurance policy combines general liability and commercial property insurance. Typically, the rate for BOP will be cheaper than if you bought commercial property and general liability insurance separately, making it a cost-effective option for companies that need both.

4. Workers’ Compensation Insurance

Due to the North Carolina Workers’ Compensation Act, businesses that have three or more employees must be certified as self-insured or have workers’ compensation insurance. These requirements apply to limited liability companies, partnerships, corporations, and sole proprietorships. If you select the self-insured option, your business will have to assume all financial responsibility for its employees’ workers’ comp claims and will have to manage the claims process yourself.
Since workers’ comp claims can be quite costly, many companies choose to purchase workers’ compensation insurance. With this no-fault insurance, the provider will pay workers for missed workdays due to injuries. Alongside covering lost wages, workers’ compensation should cover at least some of the medical expenses related to a work-related injury or illness.

5. Professional Liability Insurance

Also called errors and omissions insurance, professional liability insurance protects businesses from claims of service-related mistakes. Some professionals who provide advisory services may need this insurance to meet state licensing requirements. Accountants, real estate agents, brokers, IT professionals, and other professionals who provide advisory services often benefit from having this insurance.

6. Commercial Auto Insurance

Due to North Carolina’s laws, any business that uses vehicles in their work must have commercial auto insurance. If you use a vehicle in the course of business, commercial auto insurance will protect your company from financial losses due to injuries, accidents, or property damage involving company-owned vehicles. These plans are usually very similar to personal auto plans but with more tailored coverage for business risks. North Carolina’s minimum liability limits for a company’s commercial auto insurance include:

  • $30,000 per person for bodily injury
  • $60,000 per accident for bodily injury
  • $25,000 per accident for property damage

7. Business Interruption Insurance

Business interruption insurance protects companies from various events that could cause production to shut down. For example, supply chain problems and natural disasters could interrupt production, resulting in lost revenue. With business interruption insurance, you’ll insure your income and protect your company against financial loss.

8. Commercial Flood Insurance

Businesses located in parts of North Carolina that are at risk of flooding should seriously consider commercial flood insurance. This insurance plan protects your premises and physical assets from flood damage, which can save your business from having to pay for expensive repairs to your business, as well as any equipment and inventory you might have to replace.
Businesses that operate in parts of North Carolina that experience harsher winters with quick thawing in the spring are more prone to flooding and should usually purchase commercial flood insurance. Similarly, businesses in parts of North Carolina that deal with moderate to heavy rain often purchase it to protect themselves from flooding.

9. Insurance Plans for Employees

Alongside purchasing insurance for your business, you might want to extend insurance to your employees as part of a benefits package. Some common insurance plans offered by employers to their staff might include:

  • Health Insurance
  • Dental Insurance
  • Vision Care Insurance
  • Specific Disease Insurance
  • Medicare Supplement Policies
  • Hospital/Medical Expense Indemnity Insurance
  • Nursing Home/Long Term Care Insurance
  • Credit Insurance

FAQs About Small Business Insurance in NC

What Types of Business Insurance Are Businesses Required to Have in NC?

Worker’s compensation insurance is required for businesses with three or more employees and commercial auto insurance is required for businesses with vehicles.

Other forms of insurance aren’t required by state law, but are often recommended to reduce risk.

Can NC Businesses Opt Out of Worker’s Compensation Coverage?

Unless a business has fewer than three employees, you can’t opt out of worker’s compensation coverage.

However, corporate officers can choose to be excluded from coverage.

How Much Does Small Business Insurance Cost in North Carolina?

The cost of small business insurance will vary based on the business’s industry, type, location, number of employees, and other relevant factors. As a result, small business insurance costs can var y widely.

The varying costs means you should make sure to compare multiple quotes before you pick a plan. Doing so can prevent paying  for an overpriced premium.

Let the Greensboro Chamber of Commerce Help You Grow Your Business

Insurance is just one piece of the puzzle when you’re building a successful business. From startup guidance to networking with local experts, the Greensboro Chamber of Commerce is here to support your entrepreneurial journey every step of the way.

Learn more about how we can help your business today. If you have any questions about what we can assist your business with, please contact us.

North Carolina Small Business Grants Worth Applying For

March 29, 2025

If you own a North Carolina-based business and could benefit from additional funding, you can find many small business grants in North Carolina. Instead of having to give up equity in your business or pay back a loan, grants don’t have to be repaid under most circumstances and are a great funding option for businesses that qualify. Take a moment to review our overview of the top North Carolina small business grants.

1. One NC Small Business Program

The One North Carolina Small Business Program assists businesses in technology, engineering, math, or science. One North Carolina is made up of two programs: the SBIR/STTR Phase I Incentive Funds Program and the SBIR/STTR Phase I Matching Funds Program. The Incentive Funds program awards reimbursements to North Carolina businesses that have prepared and submitted a Phase I Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) proposal to the federal government. After submitting their proposal, a company can receive up to $12,000 in reimbursement costs caused by the proposal.

Once you’ve received a federal STTR or SBIR award, you can also receive a grant from the Matching Funds program. As the name suggests, this program provides matching funds to businesses in NC that have received a federal SBIR or STTR award. These funds aim to assist companies that are between the federal program’s Final Phase 1 payment and First Phase II payment while also increasing the amount of research performed in Phase 1.

North Carolina also offers a variety of other technology funding opportunities you can review to see if your business qualifies.

2. Job Development Investment Grant

If you’re starting a new company or expanding your business, you’ll want to apply for the Job Development Investment Grant (JDIG). This discretionary, performance-based incentive program gives cash grants to companies when they invest in the state and create jobs.

While these grants come with strict performance targets, they can provide a significant amount of funding to offset the cost of expanding or locating a facility in NC. If you receive the grant, the funding you receive will be based on the personal income tax withholdings associated with the new jobs your company is providing. Factors that JDIG takes into account before awarding funding include:

  • The net new jobs created in the state
  • The project’s location
  • The wages paid to workers compared to the average wage of workers in the company’s county
  • The industry sector of the company, alongside the industry’s alignment with NC’s targeted industry sectors
  • The amount of investment the company has made in NC
  • The county’s tier designation

3. Grants Provided by the MBDA

The Minority Business Development Agency from the United States Department of Commerce provides minority small business grants in North Carolina. If your company provides services that support the global competitiveness and growth of minority business enterprises, your business could qualify for a grant from the MBDA. Those interested in receiving these grants should monitor MBDA.gov for grant announcements.

4. NC Workforce Grants

North Carolina’s Workforce Grants are a collection of grant programs designed to benefit communities, employers, and workers. Typically, Workforce Grants help businesses upskill their employees by connecting them to training resources. By assisting and funding employee training, these grants make businesses more competitive and meet new industry needs. The primary grant programs offered through Workforce Grants include:

5. State Trade Expansion Program

North Carolina’s State Trade Expansion Program (STEP) helps fund small businesses in North Carolina that trade internationally. When you qualify for STEP, you can receive up to $12,000 in reimbursements for expenses related to doing internal trade. Through this program, North Carolina aims to reduce costs for businesses that export products out of the country, promoting international trade in the state.

As of 2025, the program offers $3,000 worth of travel funding for businesses that co-exhibit in an Economic Development Partnership North Carolina booth at a trade show. They also offer up to $8,000 for booth costs at trade shows, export services and marketing media used to reach foreign markets, e-commerce and website localization fees, and EXIM credit insurance fees, among other costs.

Where Can Businesses Find Other Grants By Industry?

If you’re looking for other small business grants in North Carolina, the state government has a list of grants they provide to businesses, organizations, individuals, and local governments. For federal grants, you can use Grant.Gov’s search page to look for potential grants that could apply to your business. Besides state and federal governments, you may be able to find grants on your local government’s website.

Grow Your Business With the Greensboro Chamber of Commerce

If you want to get the most out of any grant you receive, the Greensboro Chamber of Commerce is ready to serve you. Whether you want to learn more about entrepreneurship, connect with other business leaders about the grant progress, or attend a business conference, we have a program or event for you. We also have multiple programs aimed at developing Greensboro’s workforce by improving the skills of existing workers and bringing talented Greensboro natives back to the city.

Find out more about how we can help your business grow today.

5 Marketing Strategies and Tips For Small Businesses

February 6, 2025

If you own a small business in Greensboro, NC, getting your name out is essential for your business’s success. Whether you’re opening up a new bakery or launching a private practice, you need to have a plan for how to reach your target audience. As you focus on improving your advertising efforts, take a moment to review our top marketing tips for small businesses.

How to Market a Small Business: 5 Small Business Marketing Tips

From researching your competition and setting up a Google Business profile to partnering with local influencers and diversifying your marketing channels, you have lots of ways to improve your marketing strategy. If you want to learn more about how to market a small business, review our top five advertising tips for small businesses below:

1. Research Your Competition’s Marketing Efforts

Before you launch your marketing efforts, it can help to know what your competitors are doing to advertise their businesses and how they’re pricing their products or services. For instance, if you find that they’re selling their product for a higher price than you were planning on, you could make your lower prices a key part of your marketing efforts. You could also evaluate how effective a competitor’s marketing strategies have been, using that information to help you know what you should focus on.

Doing this research can also help you find gaps in your competitors’ marketing strategies. If they’re not advertising to consumers you think would actually benefit from your business, you can start focusing on addressing that gap and bringing in new customers. Alongside helping your marketing strategy, you can use competitor information to create a more successful business plan.

2. Set Up a Google Business Profile

Setting up a Google Business is free and one of the easiest ways you can get your business’s name out in your community. With a Google Business profile, you can make sure your business shows up on Google Maps and in search results.

This profile also allows Google users to immediately see your website, hours, location, and phone number, raising the chance they visit your business or browse your site. Make sure to verify ownership and optimize your My Business account to raise the chance your company shows up higher in local search results.

Since Google states that verified businesses are twice as likely to be considered reputable, an added bonus of a Google Business profile is that it helps you gain credibility quickly. Your Google Business profile also makes it possible to interact with customers who left reviews, showing future users that you care about your customers’ experience. Additionally, you can post photos that showcase your products or services to attract consumers to your business.

3. Make Sure You Diversify Your Marketing Efforts

While going through traditional marketing channels can still be effective, you don’t want to pigeonhole your business into a restrictive marketing strategy. For example, if you only promote your business with physical media, like signs, billboards, and print ads, you’ll miss out on reaching lots of customers who are more likely to be swayed via digital marketing efforts.

When you market your business on social media, make sure you have a diverse marketing strategy as well. Don’t get stuck only using one social media platform or one type of content. Since short video content is very popular right now, you wouldn’t want to just produce written content (e.g., blogs, how-to articles, etc.). Instead, you’d want to pair your written content with video content on TikTok, YouTube Shorts, Facebook Stories, and Instagram Reels.

4. Collaborate With Local Influencers and Media Outlets

Unless you’re a national brand, it’s probably not worth paying a celebrity or influencer to advertise your products or services. However, collaborating with local influencers can be well worth it, as they’ll give your business credibility with followers who actually live in your city. Before you collaborate with an influencer, make sure their audience matches your target demographic and that the influencer matches your brand values.

Even though legacy media outlets aren’t as popular as they once were, it can still be worth engaging with them. Whether you take out an ad in your local newspaper, do an interview with your news station, or have your CEO appear on a local radio station, reaching out to local media makes sure more people start to notice your business. Additionally, many local media options can be free or low-cost, meaning you won’t be taking much of a financial risk, if any.

5. Put Quality Ahead of Quantity Online

When you’re working on your online marketing strategy, you might be tempted to try to create as many blogs as you can to start getting your business to rank higher. While it’s great to have a strong web presence, many businesses try to off-source their articles and other types of content to LLMs, like ChatGPT, or they try to have one person write more blogs than they can handle a day.

Both options often lead to low-quality work, inaccurate information, and lost trust from potential clients or customers. Search engines like Google also penalize sites that publish low-quality content and have spammy practices, causing these sites to rank lower in search results.

As you drive traffic to your website with original content, focus more on producing a few high-quality, well-researched blogs or articles every month rather than multiple blogs a day. You’ll usually want to stick to blog topics that relate to your business, and it can pay to work with SEO experts who can find the right keywords to target and help you develop a more effective online marketing strategy.

Turn to the Greensboro Chamber of Commerce for Small Business Marketing Advice

If you’re looking for more small business marketing advice in Greensboro, the Greensboro Chamber of Commerce can help. We regularly host networking events where new business owners can connect with marketing professionals and other business owners to pick their brains about advertising. Launch Greensboro also includes multiple programs designed to help small business owners develop an effective marketing strategy. With our many resources and network of local entrepreneurs, we’re confident we can support your business’s growth.

Learn more about Launch Greensboro today. If you have any questions about the ways we can help you improve your marketing efforts, please contact us.

How to Start a Business in North Carolina

January 31, 2025

If you’d like to start a business in North Carolina, it can be overwhelming to think about, especially if you’re not even sure what type of business you want to start. Once you know what steps to follow, however, starting a business in North Carolina isn’t all that difficult, with the state very friendly to entrepreneurs (NC has a 2.5% corporate tax rate, the lowest in the country!).

Whether you’re looking for a new business idea or want to know what you should do to launch your business, review our guide to starting a business in North Carolina.

What Is a Good Business to Start in North Carolina?

Small business entrepreneurs have lots of exciting opportunities in North Carolina. If you’re still trying to decide what your business should do, review the following business types that are perfect for entrepreneurs early in their careers:

  • Moving Company
  • Professional Services (e.g., doctors, architects, engineers, dentists, geologists, and social workers can all start a Professional Limited Liability Company).
  • Bed & Breakfast
  • Recruiting Agency
  • Virtual Assistant Business

Regardless of the type of business you start, you’ll be in the right state to do it, as CNBC has named North Carolina one of the top three states to do business in for five years straight.

Do You Need a Business Plan to Start a Business in North Carolina?

Small business entrepreneurs need a business plan before they launch their company in North Carolina. This type of plan will give your business a direction to follow, guiding your business’s growth and helping you meet challenges. A detailed business and financial plan should include the following information:

  • The product or service your business plans to offer
  • The amount of funding you have, where that funding is coming from, and how much it’ll cost to launch and run your business
  • Your business’s primary competitors
  • The target audience of your business and how large that audience is

Does a New Business in North Carolina Need a Business Name?

Before you register your business, you need a name for it. The best business names will let customers know what your business does while also being unique enough that the name doesn’t get lost in the crowd. You’ll also want to look up competitor names to get a sense of naming conventions in your industry and how professional-sounding your business’s name needs to be.

Once you have a name, you need to do a business name search to make sure someone else doesn’t already have the same name. You can conduct your search here.

Where Can You Receive Funding From a New Business?

If you have enough personal savings to launch your business and fund operations for a stretch of time, you’ll likely want to stick to those funds so that you can retain full ownership and control of your business. However, most small business entrepreneurs will need funding from outside sources. Besides personal funds, you can receive funding from the following sources:

  • Family and Friends
  • Small Business Loans
  • Small Business Grants
  • Outside Investors (e.g., other entrepreneurs and venture capitalists)

How to Register a Business in North Carolina

Once you’ve decided on a small business idea, have a name, and know your funding sources, it’s time to register it. During registration, you’ll need to decide whether your business is a Sole Proprietorship, Limited Liability Company (LLC), a C corporation, a Nonprofit, or a Doing Business As (DBA). Each option has different benefits and requirements, so do your research first and talk to other business owners before deciding.

Next, you’ll officially register the business with the North Carolina Secretary of State. When you register your business, you’ll need to file paperwork that contains information about basic business details, the business’s name, and the registered agent.

How to Start a Business in North Carolina After You Finish Registering

Once you’ve finished registering your business, you’ll need to follow the rest of North Carolina’s requirements for launching a business. Based on nc.gov’s page on starting a business, new businesses must do the following after registering:

  • Obtain necessary licenses and permits
  • If applicable, apply for sales and use tax number
  • Apply for an Employer Identification Number
  • Prepare for any applicable taxes
  • Obtain insurance
  • Comply with regulations (E.g., OSHA, ADA, and Environmental Regulations)
  • Arrange for business financing
  • Open a business bank account
  • Protect your business’s intellectual property

What Should You Do After You’ve Launched Your Business?

Once you’ve launched your business and have started its operations, one of the best ways you can continue to improve is by working with your local Chamber of Commerce. For instance, the Greensboro Chamber of Commerce is dedicated to serving small business entrepreneurs in Greensboro, NC. Some of the ways the Greensboro Chamber of Commerce helps business owners include:

FAQs About Starting a Small Business in North Carolina

Do I Need A General Business License In North Carolina?

North Carolina has no statewide “general” license. Requirements vary by industry and locality.

Most businesses check state/occupational licensing and any city or county permits before opening. NCBOLD lists state-level licenses.

How Do I Check If My Business Name Is Available in NC?

Search the NC Secretary of State’s Business Registry to confirm your name is unique before you file.

From there, you can reserve or proceed to formation, reducing the risk of rejections, delays, and costly rebranding. Search your name here.

What Is An Assumed Business Name (DBA) And Where Do I File?

File an assumed business name (DBA) with your county Register of Deeds. After, it will appear in a statewide database.

Because filings are searchable across counties, you can operate under your chosen name in multiple counties without duplicate paperwork.

Does a Business Need A Registered Agent in North Carolina, And Can I Be My Own?

Every LLC or corporation must keep a North Carolina registered agent, but you may serve as your own.

The agent must have a physical NC street address and be available during business hours to receive legal documents.

How Do I Get A Free Federal EIN?

Apply for a free EIN at IRS.gov only, and avoid third-party sites that charge fees.

After you apply for an EIN and receive approval, you can use the EIN to open bank accounts, hire employees, and handle federal and state tax registrations.

When Do I Register For Sales & Use Tax Or Withholding?

Register with NCDOR if you will collect sales tax or if you have employees for state withholding.

After you finish registering with NCDOR, you can collect and remit sales tax properly and withhold payroll taxes, helping you avoid penalties and interest.

What Are NC Annual Report Deadlines And Fees?

LLC reports are due April 15. Corporations file on the 15th day of the fourth month after fiscal year end.

Building a reminder system helps you avoid late fees and potential administrative dissolution for missed filings.

When Do I Need to Pay For Unemployment Taxes?

Businesses must pay for unemployment taxes if you pay $1,500+ in a quarter or employ 1+ worker for 20 weeks.

If you need to pay for unemployment taxes, you’ll file quarterly wage reports and pay contributions through the state’s employer system.

Do I Need Workers’ Compensation Insurance?

Most employers must carry workers’ compensation when they have three or more employees, with limited exceptions.

Coverage helps protect your team and your business by paying for work-related injuries and complying with state law.

Join the Greensboro Chamber of Commerce

Launching a business is incredibly rewarding, but it can also be stressful if you do it alone. The Greensboro Chamber of Commerce understands the pressures on small business entrepreneurs, and we have a lot of resources to help. Whether you’re interested in taking a small business class or are looking for entrepreneurs near you in Greensboro to network with, we have you covered.

Learn more about our entrepreneurship programs and other entrepreneurship resources today. If you have any questions, you can call us at (336) 387-8301.

We know and grow Greensboro.