October Insights: What’s Powering North Carolina’s Business Landscape


Dear Readers,

Welcome to the October edition of the First Choice Triangle Tribune, from First Choice Business Brokers of the Triangle. This month we’re looking at something practical and very local: how North Carolina is helping small businesses grow through grants that put real resources into your hands without debt or equity strings attached.


In this issue:


  • How NC state grants are helping 90 small businesses grow

  • A clear checklist for applying and tracking these funds

  • Why grants can improve your company’s value when it’s time to sell


State Grants Fueling Growth: What NC Business Owners Should Know


This fall, North Carolina awarded more than $4 million to 90 small businesses through the One North Carolina Small Business Program. These grants are designed to help companies cover the cost of preparing federal research funding proposals and to match federal awards when they’re won.


Here’s what that actually means:


  • Incentive Fund: Helps pay for proposal prep costs like consulting, lab work, or professional writers. The state reimburses eligible expenses up to a set cap.

  • Matching Fund: If you win a federal Phase I award, the state can match a portion of it. That match is spread out over project milestones and doesn’t cost you equity or add debt.

  • What’s next: A bill under consideration in the state legislature could create even broader grant support for facility expansion and job growth. If passed, it would open doors for more types of businesses to benefit.


Why this matters to owners thinking about value


  • Keeps ownership intact. Since these funds don’t dilute equity or add debt, your ownership position and financial picture stay cleaner.

  • Adds credibility. A grant win shows outside experts believe in your idea or product. That’s something buyers look for.

  • Builds discipline. To get and keep these grants, you’ll need budgets, milestones, and reports. Those are exactly what buyers expect to see during due diligence.


Common gotchas to know up front


  • Your headquarters must be in North Carolina.


  • Applications are tied to strict timing windows. Miss the deadline and you may have to wait for the next round.


  • Only certain expenses are eligible. Therefore, you’ll need to keep receipts and separate records or risk losing reimbursement.


  • County development tiers matter. Businesses in Tier 1 or Tier 2 counties may qualify for higher levels of support and investment.


A short checklist you can use this week


  1. Confirm you’re eligible by checking your HQ location and the current state solicitation window.

  2. Assign one person to own the process - application, documentation, and reporting.

  3. Pull together current financials, staff bios, a simple project timeline, and a budget.

  4. List all proposal prep costs that might qualify for reimbursement.

  5. Plan how you’ll track milestones and submit reports if you’re awarded funds.


Pro tip: Keep a separate folder (digital and paper) for grant documents.
It saves time during audits and is handy if you ever go through buyer due diligence while selling the business.

How this can affect your business value


Picture this: a company wins a $50,000 federal grant and gets a $25,000 state match. That extra $25,000 funds more testing and a pilot program with paying customers. When the time comes to sell, having a successful pilot contract in place often increases buyer interest and can improve the multiple. The key is documenting exactly how the funds supported real results.


First Choice Insight


Even if you don’t win every grant, the process of applying sharpens your business. You’ll end up with better budgets, clearer milestones, and stronger documentation - all of which make your company easier to evaluate and more appealing to serious buyers.



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Featured Listings of the Month

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Smart growth doesn’t always come from big leaps. It often comes from knowing where the right support is. North Carolina’s grant programs are a perfect example of that. They help business owners grow without giving up control or taking on extra risk.


If you’re curious about how funding like this could strengthen your business or how to position your company for a future sale, we’re always just a call or message away.


Thank you for reading this month’s edition of the First Choice Triangle Tribune. Until the next episode, stay focused, stay curious, and keep building value in your business.