CHARLOTTE, N.C. — The United States is currently seeing a small business boom. According to the Small Business Administration, more than 5.5 million new business applications were filed in 2023, that's up about 10% from the previous year.
WCNC Charlotte is dedicated to helping new businesses get ahead this year so they're not asking, "where's the money?"
Following the COVID-19 pandemic, more people have started to lean into their passion projects. However, starting a new business from the ground up can be intimidating. One new Charlotte couple says despite some early setbacks, their business is now thriving.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
Husband duo Sam Chappelle and Yerman Carrasquero opened up their artisanal bakeshop, Vicente, in the heart of South End, last May. It wasn't easy, as the bakery's opening was pushed back by factors outside of their control.
"We ran into a lot of construction problems," Chappelle said.
Things quickly changed and the couple is now so busy that they're working very hard to meet growing demand.
"We sell out basically every weekend," he said. "We just picked a niche that doesn't really exist yet."
Russ Morton, a chief product officer for the marketing firm Constant Contact, said it's all about understanding and honoring your identity as a business.
"Certainly, we advise everybody to start telling your story," Morton said. "Maybe even before you founded your business."
Morton said if you’re looking to start a small business, you have to listen to your audience.
"Part of knowing what's working is getting some instrumentation and figuring out what people are responding to," he said.
That's something Chapelle and Carrasquero said they do every time they open up shop.
"I ask for feedback a lot on what kind of flavors and variations and stuff we should do," Chappelle said. "And people get really excited about that."
Chappelle's biggest piece of advice for new business owners is to be prepared to spend more than you think and devote as much time as possible to the project. He said nearly everything will cost more than expected and takes more time, giving new business owners more obstacles to overcome on their way to achieving their dream.
To let us know how WCNC Charlotte can help you get ahead in 2024, email us at newstips@wcnc.com.
WCNC Charlotte's Where's The Money series is all about leveling the playing field in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.