Charlotte Small Business Ecosystem Assessment

About the Report

The Charlotte Small Business Ecosystem Assessment was produced by consultancy TPMA in partnership with the City of Charlotte’s Economic Development Department. 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, released in August 2025, looks at how city leaders, business support organizations and ecosystem partners can better align efforts and strategically invest in solutions that are responsive to the unique needs of Charlotte’s small businesses. The assessment was funded through the Coronavirus State and Local Fiscal Recovery Fund.

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.

Next Steps

Charlotte Economic Development, in collaboration with TPMA, is continuing to engage stakeholders — including small business owners and community partners — through workshops, focus groups, and outreach through 2025. These conversations will shape a long-term action plan to strengthen Charlotte’s small business ecosystem.

Ecosystem Assessment - Full Report

Ecosystem Assessment - Executive Summary

News Articles

City, TPMA to Conduct Small Business Ecosystem Study

Charlotte Small Business Ecosystem Report Launches Action Plan

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