Triad foundation helps small business owners grow

Small businesses make up the backbone of the American economy. They employ nearly half of all private-sector workers, but small businesses sometimes need big help. That’s where the National Institute of Minority Economic Development comes in.

“Entrepreneurship is not for the faint of heart, but when you have a community full of resources, like me and other community partners, you know we really help to bring what you envision to life.” Lu-Ann Barry says the organization has worked for more than 35 years focusing on business in Greensboro and economic growth through business diversity. 

She serves as the Executive Director for the Women’s Business Center of the Triad. It operates under the larger institute, largely focusing on women and minority business owners. “I want to use my skill set in another way and help those particular entrepreneurs to really get their vision off and running,” says Barry. “Those are the those, as Oprah says, those ‘a ha moments’ that we really, really look for and really lets us know that what we’re doing, we’re doing the thing.”

All of the work focuses on six pillars:  marketing, human resources, legal, technology, finance and leadership. Not only does the organization offer one-on-one business counseling, it also hosts events such as a pitch competition and a power lunch. Both are opportunities for business owners to learn, grow and network.

The Institute doesn’t do this alone. Help from the Community Foundation of Greater Greensboro has been tremendous in helping them reach their goals. “The community foundation has been monumental in helping us to really put our mark here, especially in our first year,” says Barry. “The support of the foundation really helps to show our credibility. It helps to validate what we do. It helps us to really move fearlessly in the community. It just gives you an extra boost of confidence to really do what you do, but also really continue to move forward in your purpose.” 

The Women’s Business Center has been expanding into the community as well with offices at Bennett College allowing them to work closely with college students who are interested in becoming or who are already entrepreneurs. They are even partnered with Guilford County Schools to find hidden gems through the Discovery High School Pitch competition. Barry says there are hidden gems in every corner of our community. “We’re here to help discover where they are and how do we make them shine.”