NEWS RELEASE                           
June 28, 2007

BizHub Network to Merge with CPCC Institute for Entrepreneurship
Board seeks efficiencies to meet needs of small business owners 

The BizHub Network board of directors announced it will merge its services with the Central Piedmont Community College (CPCC) Institute for Entrepreneurship.  Located on the CPCC Central Campus in Charlotte, the non-profit group will transition its support and informational services, including small business counseling, to the college effective July 1, 2007.

With its initial funding cycle nearing an end, the Board took the opportunity to examine the structure and services of the BizHub Network, including a potential overlap in services, the cost of operating a separate entity and the capacity to raise self-sustaining funds. Lori Day, now serving in a part-time role as the Executive Director of BizHub Network, will help manage the merger and will direct the transition in her full-time capacity as Executive Director for the Institute for Entrepreneurship.

BizHub Network Board Chairman Greg Fornelli is excited about the merger which allows the non-profit to take advantage of the recent growth of CPCC’s Institute for Entrepreneurship. “I think the Institute for Entrepreneurship is absolutely the best place for BizHub Network clients to get these services,” says Fornelli, who is president and owner of Stock Car Steel and Aluminum. “I’m proud of what we’ve accomplished, and I believe the small business community will benefit from the infrastructure and support CPCC can provide.”

In distinguishing itself, the BizHub Network promoted collaboration among service providers in the 16-county Charlotte Region. It offered free counseling for businesses and entrepreneurs along with a regional online calendar for small business activities. BizHub Network also convened quarterly meetings of service providers, including the SBA and other college Small Business Centers.

BizHub Network also created a regional inventory of the region’s more than 300 providers and resources dedicated to serving small business owners. This allowed BizHub to launch the first comprehensive online tool – BizHub Network Resource Navigator. Unique to the region, Resource Navigator offers individual custom referrals for anyone needing help with issues such as writing a business plan and financial assistance. According to Day, the Institute for Entrepreneurship will work with area service providers to expand the use and reach of BizHub Network Resource Navigator.

The existing BizHub Network hotline (704-330-OPEN) will be re-directed to the Institute for Entrepreneurship, and the website (www.bizhub.org) will remain active during the transition. The regional calendar and free counseling information will be posted on the Institute site (www.cpcc.edu/e-institute).

Established in 2003, the BizHub Network received its funding from founding partners, including CPCC, the City of Charlotte and Mecklenburg County. The Charlotte Chamber and the Public Library of Charlotte-Mecklenburg County also played key support roles in the organization since its inception. The Institute for Entrepreneurship will seek support from the city and county to assist in counseling an increased number of clients as a result of the merger.

"The BizHub Network has provided a tremendous contribution to this community," said CPCC President Dr. Tony Zeiss. "We appreciate the long-standing partnership with the City and County in this endeavor, and we're committed to making the merger of the program with the College's Institute for Entrepreneurship successful."

With the merger into CPCC, the Institute for Entrepreneurship will focus its counseling services on businesses and individuals in Charlotte and Mecklenburg County – the service area of the college. The Institute now serves about 2,000 students a year through courses, seminars, counseling and visitors to its Resource Center. CPCC, the largest community college in North Carolina, is a member of the Small Business Center Network (SBCN) of the NC Community College System. Other NC community colleges are a part of the SBCN and offer counseling and similar services throughout the region. Those individual colleges and many other service providers, including the Small Business Technology Development Center (SBTDC) and SBA, will continue to offer direct and local small business assistance.

Contact: Lori Day, 704.330.6776 or lori.day@cpcc.edu