A Comparison of the Western North Carolina and Appalachian Entrepreneurial Ecosystems.
Research produced jointly between Carolina Small Business Development Fund and the Western Women's Business Center.
Overview
This report compares the Western North Carolina (WNC) entrepreneurial ecosystem with the entrepreneurial ecosystem of the Appalachian region, with the intention of identifying strategies for improving entrepreneurial outcomes in one or both contexts.
Interviews with organizations that serve entrepreneurs in WNC reveal three primary themes used for the comparison: 1) communication and collaboration between resource providers; 2) demand for and availability of capital; and 3) alignment between available financial products, eligibility criteria, and entrepreneurs’ funding needs.
The interviews indicate that WNC resource providers collaborate actively with one another, communicate regularly with entrepreneurs, and provide services intended to address their needs. These findings are consistent with existing literature on entrepreneurial ecosystems across Appalachia.
However, the interviews also find that mission-driven lenders in WNC have adopted numerous innovative financial products that may serve as useful examples for lenders in other Appalachian ecosystems. The report concludes by detailing these innovative financial products and considering potential directions for future research that could improve the ability of resource providers to increase economic opportunity for underserved entrepreneurs in the region.
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Suggested Citation
Safer, Adam, Noor Kazi, James R. Onorevole, April Peck and John Carter Roberson. 2024. “View from the Top: A Comparison of the Western North Carolina and Appalachian Entrepreneurial Ecosystems.” Carolina Small Business Development Fund.
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