North Carolina’s Biz Boost Program provides guidance

A recently expanded pilot program in North Carolina called Biz Boost has provided many entrepreneurs with business and financial advice to help them start a company or expand a current small business.

The Biz Boost program, which is an initiative of the state’s Small Business and Technology Development Center, does not give out funds, but it provides management counseling, financing assistance, marketing, and other services.

The New York Times says the program originally started as a pilot program for the Charlotte area, but was expanded to the entire in January by Governor Beverly Purdue.

The Times says an additional $2.4 million in federal and state money was used to hire additional accountants and small business managers. Since its start, Biz Boost has assisted 158 small businesses, mostly with 10 or fewer employees.

One client told the Times that the the program helped him develop cash flow projections and get his finances ready to apply for funds from an angel investor.

The Charlotte Observer says that investments in North Carolina have been much more available recently this year over last. In the first quarter of 2010, $87.9 million in venture capital came into the state – a sharp increase compared with $36.6 million in the third quarter of 2009.ADNFCR-3052-ID-19782661-ADNFCR