Charlotte Small Business Ecosystem Assessment & Implementation Plan

The Charlotte Small Business Ecosystem Assessment, completed in November 2025, was produced by consultancy TPMA in partnership with Charlotte Economic Development. To complete the report, TPMA conducted a mixed-method stakeholder engagement initiative to derive direct input from community stakeholders, including small business ecosystem partners, small business owners, and elected officials.

The assessment, funded through the Coronavirus State and Local Fiscal Recovery Fund, looks at how city leaders, business support organizations and ecosystem partners can better align efforts and strategically invest in solutions to support Charlotte’s small businesses.

Objectives

• Identify gaps in services, opportunities and capital resources available to small businesses.
• Identify possibilities to provide support for small business growth and sustainability.
• Facilitate engagement with local business owners through focus groups, interviews, and surveys.

Key Findings

1. Charlotte has a “robust” system of mission-based organizations that support the small business ecosystem.
2. Small business owners identify access to capital as the primary barrier to sustainable growth.
3. The demand for commercial and retail space, increased rental rates and a decline in the availability of affordable inventory, has disproportionately impacted small business owners.
4. While initiatives are underway to improve access, data suggests that there remains significant potential for enhancements.
5. Data reveal a disconnect between those overseeing the talent pipeline and the small business community. Addressing this gap necessitates a thorough examination of Charlotte’s workforce landscape.
6. Small business owners say obstacles impede their participation in government and corporate contracts.

In late 2025, Charlotte Economic Development, in collaboration with TPMA, took the data from the Small Business Ecosystem Assessment along with responses from a stakeholder survey and focus groups to create the Strategic Framework and Implementation Plan.

The plan, presented to the Economic Development & Workforce Council Committee in March 2026, translates strategies based on those findings into measurable actions and timelines. The plan will be implemented in phases over five years with continued partner and stakeholder engagement to ensure solutions are realistic, equitable and responsive to the needs of Charlotte’s small business community while positioning the city for sustainable, long-term impact.

Framework Goals

February 2024 – TPMA selected to conduct Charlotte small business ecosystem assessment
June 2024 – TPMA launches strategic media outreach campaign to generate public interest
Fall 2024 – Surveys and focus groups conducted with small business owners
November 2025 – Charlotte Small Business Ecosystem Assessment completed
Late 2025 – Community engagement through workshops and focus groups to develop strategic framework
March 2026 – Small Business Strategic Framework presented to Economic Development & Workforce Council Committee

The Small Business Ecosystem Strategic Framework and Implementation Plan will be developed in phases over the next five years, with continued partner and stakeholder engagement, to ensure solutions are realistic, equitable and responsive to the needs of Charlotte’s small business community, while positioning the city for sustainable, long-term impact.

Next steps include:

• A legal and policy review to ensure alignment with all local, state and federal laws, regulations and compliance requirements.
• Engaging internal leadership and department heads to coordinate cross-departmental collaboration, clarify roles and align operational capacity for successful implementation.
• Identifying and assessing implementation resources, including staffing, funding, technology and partner support, to ensure strategies are actionable and sustainable.