On March 18, 2026, NCGrowth and U.S. Bank’s Business Access and Wealth Management team convened their third collaborative summit in Charlotte, North Carolina. Titled “Creating Pathways to Legacy,” this installment focused on defining what it means to build a resilient, enduring small business in today’s evolving economic landscape. More than 130 guests gathered to engage in substantive dialogue around three pillars: operational resilience, capital readiness, and legacy and succession preparedness.
Since 2024, U.S. Bank/NCGrowth’s ongoing collaboration has consistently centered on the urgency of succession planning and sustainable business development. A driving force behind this work is the “Silver Tsunami” — the anticipated wave of Baby Boomer retirements that threatens to erode payrolls, displace jobs, and diminish community wealth if businesses are not thoughtfully transitioned to the next generation of owners.
A Collective Approach to Economic Vitality
The summit placed collective planning at the center of its agenda, drawing together a diverse group of ecosystem partners and thought leaders to offer both strategic context and actionable resources.
Dr. Cody Morris, Ph.D., of the Kenan Institute of Private Enterprise opened with an economic overview, providing important context and market outlook for small and medium-sized enterprises navigating today’s environment. Representatives from Mecklenburg County’s Office of Economic Development and the City of Charlotte offered insights into the region’s growing economy, highlighting the significant transportation and infrastructure opportunities embedded in the Charlotte Future 2040 Plan.
Charlotte’s broader ecosystem was well represented, with contributions from Next Street, BEFCOR, Prospera, and the Charlotte Women’s Business Center. These partners shared practical guidance on how business owners can remain actively engaged with their communities as they grow and detailed the range of resources available — including small business lending, technical assistance, and advisory support.
Voices from the Field: Business Owners and Practitioners
The summit provided a valuable forum for business owners themselves to share their experiences. Representing industries spanning healthcare, technology, and finance, these entrepreneurs offered candid perspectives that grounded the day’s broader themes in lived reality.
Among the most compelling presentations was a conversation with Michael and Jason Stier of Focus CFO, a father-and-son team who shared an honest account of the challenges and rewards of transitioning a business from one generation to the next. Their story illustrated both the complexity and the possibility inherent in thoughtful succession planning.
U.S. Bank concluded the event by presenting its full suite of wraparound services; spanning wealth management, lending, retirement planning, and relationship banking — demonstrating the breadth of support available to business owners at every stage of their journey.
Key Takeaways
The summit affirmed a central truth: building regional economic vitality is a shared responsibility. Attendees left with firsthand knowledge of Charlotte’s local economy and a clearer picture of the resources available to support business expansion and successful exits.
Perhaps most powerfully, the day reinforced that sunsetting a career does not have to mean sunsetting a business. With access to knowledge, capital, and a supportive community, business owners can chart transitions that create lasting value; for themselves, for their employees, and for the Charlotte region at large.
A collaborative initiative of NCGrowth and U.S. Bank Business Access & Wealth Management
In the rural communities of eastern North Carolina, access to reliable transportation can be the difference between receiving essential care and going without. All Hearts Transportation Services LLC, founded by the dedicated and mission-driven Shielda Forrest, is working to close that gap. Based in Williamston, All Hearts provides safe, dependable transportation for elderly adults, people with disabilities, and children who require accessible transit options—particularly in counties where transportation resources are scarce.
Small business owners, interested in becoming a vendor to large institutions in Central North Carolina? If yes, join us April 8-10, 5:30PM-7:30PM at the Dennis Wicker Civic Center in Sanford, NC to learn the process for becoming a vendor and connect directly with purchasers like Central Carolina Community College, Lee County, TriRiver Water and others.
Register: https://go.unc.edu/CNCPS
North Carolina's entrepreneurial landscape is thriving, boasting 178,000 new businesses in 2022 and over 360 entrepreneurial ecosystem partners dedicated to bolstering businesses statewide. Despite its geographic diversity, the state's entrepreneurial support network remains somewhat disconnected, with outcomes varying across regions and organizations. This report explores the intersection of entrepreneurship and economic development incorporating insights from interviews with key players, review of existing reports and research, and case studies. This report identifies a disparity in the focus of economic development efforts, which are often centered on business recruitment, retention, and entrepreneurial support, with local entrepreneurs often left uninformed about these activities. Economic development initiatives related to entrepreneurship vary significantly depending on factors like location, investment sources, digital infrastructure, and networking capabilities.
Within this context, four primary themes emerged as problems entrepreneurship-led economic development could help to resolve: 1) Access to Capital: Ensuring entrepreneurs have access to necessary funding and resources throughout their business development stage; 2) Coordination of the Business Development Environment: Raising awareness and promoting available resources and initiatives among local business owners and entrepreneurs; 3) Digital Infrastructure Development: Fostering digital capabilities and connectivity, which are crucial for modern business operations; and 4) Mentorship and Network Collaboration: Facilitating mentorship opportunities, building a supportive entrepreneurial community, and connecting businesses regionally.
In late November, attendees from across the eastern region of North Carolina joined the NCGrowth team in Bertie County. Attendees learned about our projects supporting businesses, communities, and local and Tribal governments including Pamlico County, Enc96radio, the Haliwa-Saponi Tribe, Town of Garysburg, and Slice 325. After lunch, the team and guests toured Indulge Aesthetics, the Cashie Treehouse Village, and the site of a developing park in Bertie County currently known “Tall Glass of Water”.
Founded in 2021 and headquartered in Winston-Salem, Bella Sol Medical Spa focuses on fostering self-care by delivering top-notch, customized, medical-grade services tailored to enhance the well-being and vitality of its clientele. In an effort to attract investments and boost revenue, Bella Sol Medical Spa requested support from NCGrowth on a comprehensive business plan. This plan identifies Bella Sol's strengths and competitive advantages, and provides an overview of the market landscape, including an analysis of top competitors. UNC Kenan-Flagler MBA candidate Yiwen Lin, an NCGrowth analyst, collaborated with Bella Sol owner Jalissa Grier on this project, with additional input from a professional wealth analyst who acted as an external reviewer.
The town of Garysburg, located in Northampton County, NC, aims to revitalize its old elementary school by transforming it into a mixed-socioeconomic development hub. This project seeks to provide employment opportunities, educational resources, and foster social and economic growth for the community. NCGrowth analyzed diverse revenue streams and effective cost-management strategies to ensure long-term value for the town. NCGrowth analyst and UNC Kenan-Flagler MBA candidate, Rex Chauhan, developed a robust financial model that projected revenue streams, analyzed costs, and estimated returns on investment. NCGrowth also identified key personnel roles, and qualifications, and provided job descriptions.
NCGrowth and the UNC System have worked to develop a strategic plan for the System and its seventeen institutions to increase their use of historically underutilized businesses in their purchasing and procurement processes.
Big Boys Kitchen (BBK) Catering is a catering company operated and located in the territory of Lumbee Tribe of North Carolina. The co-owner and CEO of the company, Patrick Dial, has extensive experience catering local events, church events, weddings, school events, and other private functions. The menu offering includes a variety of BBQ options with a local NC flavor. Pat asked NCGrowth to support their efforts to expand their offerings and establish an online presence. NCGrowth provided a competitive analysis and audit of BBK’s online marketing presence.
Hotshots, a sauce distribution company with a selection of barbeque and hot sauces, rubs, and snacks is owned and operated by Matt and Lauren Heald. The company was established in the late 1990s by Lauren’s uncle and was later bought by the couple in 2008. Since then, they’ve acquired hot sauce brands, expanded aggressively and focused on two sale channels: wholesale and direct to consumer (DTC) sales. Hotshots Inc. revenue has been declining for a few years now, with the biggest hit coming from the discontinuation of a major restaurant chain customer during Covid-19. The goal and scope of the project with NCGrowth was to revamp sales and marketing and explore other avenues to boost sales.