Small Business

Sutton's Drug Store in downtown Chapel Hill.
courtesy of Sutton's Drug Store

Ask any long-time Chapel Hill resident to name a few of the town’s business icons, and Sutton’s Drug Store is likely to come up. Founded in 1923, the old fashioned pharmacy has been open for 90 years and celebrates that fact today with a special deal for its customers: from 11:00 to 4:30, hot dogs, Cokes and French fries will be only a nickel, reflecting the store’s 1923 prices. They’re expecting several hundreds of customers.

Hatteras Venture Partners of Durham is having one of its biggest years yet.

Hatteras Venture Partners has raised 125-million dollars, thanks to the Small Business Administration’s Early Stage Innovation Fund Initiative.  It’s the first venture capital firm in the country to be licensed through the program, becoming eligible for up to 50-million dollars in S-B-A-guaranteed loans.  Sean Greene is the Associate Administrator for Investment at the S-B-A.

A new report takes a close-up look at Community Development Financial Institutions across North Carolina and the lending gap they have filled. 

The report was commissioned by The Support Center based in Raleigh. It’s one of 17 Community Development Financial Institutions or C-D-F-I’s in the state.   In 2010 – C-D-F-I’s financed 33-thousand consumer and business loans.  Lenwood Long is President and C-E-O of the Support Center.

The Small Business Administration visited Raleigh to kick-off a new national program to help businesses grow internationally.

Karen Mills is the Administrator for the S-B-A.  She visited "Raleigh Denim" to announce the new State Trade and Export Promotion program.

Karen Mills:  "American manufacturers can still produce world class products, even in textiles."

Entrepreneurs in the Triangle have the chance to tell the federal government how it can help grow their businesses. The U-S Small Business Administration will host a roundtable in Durham today to gather ideas for reducing small business regulations. S-B-A press secretary Hayley Meadvin says Durham is the first stop in the series of meetings called Startup America.