Winston-Salem, NC, Offers Small-Business Support
Resources in Greater Winston-Salem help small businesses grow.
Greater Winston-Salem, NC, has proved to be a thriving home for entrepreneurs and aspiring business owners. Local universities and small business centers provide an abundance of resources to support small businesses in various stages.
Here to Help
Greater Winston-Salem, Inc.’s Minority Business Enterprise (MBE) grant program offers funding to support Black and Latinx-owned small businesses in Winston-Salem and Forsyth County. It focuses on improving business success, job retention and job creation for minority-owned businesses. Additionally, the Winston-Salem Partners Roundtable Fund provides seed-stage funding to companies based in, or committed to relocating to, the Greater Winston-Salem area, and Winston Starts works to help entrepreneurs scale their businesses.
A free resource for entrepreneurs at all levels, the Forsyth Tech Small Business Center offers support when businesses launch and grow.
“Owning a business, no matter how small or how large, is probably one of the hardest jobs that exists,” says Martha Larson, director of the Forsyth Tech Small Business Center. “Our goal is to work with business owners as they start but also as they grow.”
A staff of a dozen mentors with varying specialties assists business owners in areas like human resources, marketing, accounting, general project management and strategic planning.
“It helps to establish a mentor system so business owners can have that team around them that a lot of smaller businesses can’t afford,” Larson says.
With over 200 clients in the last fiscal year – most of them being minority-and women-owned businesses – the Small Business Center has become a hub of information. Staff can help direct business owners toward the resources and connections that are specific to their goals.
In addition to one-on-one counseling, the center offers in-person events and webinars to make its resources accessible to as many people as possible.
Knowing the Basics
Courtney James is part owner of Support Systems of Forsyth County, which provides transportation to medical appointments, workplaces and adult education courses for individuals across Winston-Salem and surrounding areas. James, who started her business in 2019, looked for resources from the start.
When starting out, James took technical assistance courses through the S.G. Atkins Community Development Corp., which was established by Winston-Salem State University. Through the Microenterprise Individual Development Account (IDA) program in Forsyth County, James gained knowledge about fundraising, cash modes and expenses. She is also an MBE grant recipient.
James also credits the Wake Forest Law Clinic as a free resource that helped her securely structure her business.
“Don’t be afraid of technical assistance,” James says. “You don’t get to skip the business plan. You don’t get to skip what a balance sheet or a profit-and-loss statement is. These things greatly benefit you in knowing how to put them together.”
James has also partnered with Community Court Services through the Forsyth County Sheriff’s Department to help provide transportation for individuals impacted by the criminal justice system who are seeking to enter the workforce.
James earned the 2022 Woman-Owned Business of the Year by the Women’s Business Center of Winston-Salem and the 2023 Truliant Small Business of the Year by Greater Winston-Salem, Inc.
Growing Dreams
Bryce Sherman of Sherman’s Drop-In was inspired by his work with the City of Winston-Salem in youth sports to start his own business. He now provides drop-in day care services, afterschool programs and summer camps for kids. After opening in 2019, Sherman’s business adapted to the pandemic at a time when essential workers still needed day care services. Sherman’s business now has three additional sites and up to eight employees.
Sherman is an MBE grant recipient and utilized a Black Philanthropy Initiative (BPI) Impact Grant to help expand the scope of his business. BPI Impact Grants for up to $1,000 are available to Black-owned businesses whose work falls within key areas, like education, jobs and civic engagement.
“If you have a dream, just go after your dream,” Sherman says. “Don’t let people derail you.”
Get to Know Winston-Salem, NC
Want to learn more about living and working in Winston-Salem, NC? Check out the latest edition of Livability Greater Winston-Salem Industry and Community Insights.
