888-983-1617 [email protected]

Showcasing the Entrepreneurial Ecosystem in Charleston, South Carolina

I (Frank) had the opportunity to take part in the annual DIG SOUTH event, participating in a panel on crowdfunding. DIG SOUTH founders Stanfield and Sunny Gray are doing a great service, drawing attention to the entrepreneurial ecosystem in Charleston, S.C., and bringing together two important groups: people who are building businesses and those who can help them grow and secure funding.

I was honored to be part of a panel discussion with an engaging group of experienced investors, entrepreneurs and accelerator operators:

  • Gavin McCulley, Angel Capital Group,
  • Adam Lee, Bohemian Guitars,
  • John Osborne, The Harbor Accelerator,
  • Bobby Pearce, Smith Moore Leatherwood LLP, and
  • Zach Pousman of THINK Interactive, Inc.

We had a thoughtful discussion on the “dos and don’ts” of crowdfunding, equity financing and raising investment capital. The two “suits” at one end, Bobby Pearce and me, cautioned investors to be careful what you ask for when seeking crowdfunding, because you might get it. Bobby highlighted that a company owes the same duty to the smallest shareholder as a large influential one, and I tried to help people see the practical costs to small businesses of having lots of shareholders rather than a few. Bobby, who has deep experience as a lawyer and company founder, encouraged South Carolina entrepreneurs to avoid extra regulation and seek accredited investors, in particular taking advantage of the state’s Angel Investor tax credit.

Adam Lee, whose company was the first to be funded under the Invest Georgia Act using equity crowdfunding, helped people see how investment crowdfunding done right can be effective for both marketing and raising capital.

DIG SOUTH showcased the quality of entrepreneurial work coming out of regional accelerators, including winner of the Wild Pitch competition Dynepic, a company supported by Charleston’s Harbor Accelerator. College of Charleston students also had an impressive showing. David Wyman, director of the college’s Center for Entrepreneurship, did an excellent job coaching students for the Wild Pitch Students competition. The teams were impressive in both competitions.

The closure of the Charleston Naval Shipyard in 1996 was a big blow to the regional economy at the time, but it created an opening in Charleston for economic development by large and small businesses. Looking at it today, the base’s closing helped create an entrepreneurial ecosystem.

It is gratifying to see how Charleston turned this challenge into an opportunity. DIG SOUTH showcases this happy result. Those with an interest in entrepreneurship and economic development in South Carolina would be wise to attend the conference in the coming years.

Help Me With a Succession Plan

Ask Us Anything Dear Oaklyn Consulting, It’s been a really hard year. I own a business that I’ve been successfully running for the last 15 years. I’ve had some health troubles that have pushed me to a position where my doctors are suggesting that I need to retire...

Can a Nonprofit be Acquired by a Corporation? 

Can nonprofits be acquired by corporations? Is it a good idea for for-profit businesses to acquire nonprofits? Learn everything you need to know.

Venturing into Capital: Understanding Small Business Private Equity  

Explore small business private equity and all of its alternatives to reach new heights for capital in your company.

Help Me With Acquiring a Business

Ask Us Anything Dear Oaklyn Consulting, I am a business owner who has a substantial local presence. I’m considering acquiring a competitor that has a larger presence outside my current market. This move would expand our footprint immediately and give us the...

How to Merge Nonprofits: Acquisition, Stakeholders, Post-merger Integration, and More

Merging nonprofits is not as hard as it sounds. Just make sure goals are aligned, assets are well assessed, and that you have the right advisors by your side.

Oaklyn Consulting Congratulates Finite Reimaging on Acquisition by CAMP Construction Services

Oaklyn Consulting helped AMP Construction Services acquire Finite Reimaging. Learn it all here.

Help Me Develop a Sellable Asset

Ask Us Anything Dear Oaklyn Consulting, I don’t know if it’s the economy or the time of year, but it feels like every time I turn around, there is another M&A firm calling to see if I am in the market to sell my small business. I know that this is something that I...

Consulting vs. Investment Banking: Which Approach Suits Your Business Needs?

Understand the main differences between investment banking and consulting. Get the best services for your business and unlock new opportunities.

Help Me With Selling a Business

Ask Us Anything Dear Oaklyn Consulting, I have a friend who is selling their existing business, and they want more than any buyer is willing to pay. Should they take the best terms they can get, regardless of their “valuation,” and ride off into the sunset or wait...

How to Assess Non-Profit Financial Performance: A Step-By-Step Guide

Gauge your organization’s financial health effectively. See how to assess non-profit financial performance and unlock more opportunities to accomplish your mission.