In many ways, Charlotte, North Carolina, resembles a gangly teenager-grown-up on the outside but with traces of the child inside occasionally surfacing.
Banking and spin-off financial services dominate the region. Banking is driven by the merger and acquisition activities of Nations Bank and First Union, both of which have their headquarters here. But contrary to typical scenarios, small firms are not losing out-many of the smaller and midsized banks are focusing on the entrepreneurial market.
Like so many cities in our top 20 that are experiencing rapid growth, Charlotte is coping with congested roads and labor shortages. Chamber of commerce officials are urging members to improve worker loyalty and explore alternative employee resources, such as retirees. The state's welfare reform effort (Work First) is also expected to help solve the labor shortage. Charlotte's inner child resurfaces when it looks toward the future. Can this become a world-class city? The answer lies in the hands of residents. Can they develop the mature cosmopolitan attitude it takes to allow the non-traditional to flourish, or will conservatism maintain the status quo? Only time will tell.
This article was originally published in the October 1997 print edition of Entrepreneur with the headline: 20 Best Cities For Small Business.
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