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Why young North Carolina entrepreneurs are buying up Boomer businesses

In North Carolina and beyond, young entrepreneurs are buying up small businesses from founders nearing retirement.

Business

Rob Belk, 35, grew up in <a class="gtmContentClick" data-vars-link-text="Charlotte" data-vars-click-url="https://www.axios.com/local/charlotte" data-vars-content-id="7a6faaac-45d5-40be-af90-2649b31e3c01" data-vars-headline="Why young North Carolina entrepreneurs are buying up Boomer businesses" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/charlotte" target="_self">Charlotte</a>, selling ladies&#x27; shoes at the SouthPark mall Belk, his family&#x27;s eponymous department store — a grind that instilled in him an entrepreneurial bug. Earlier this year, he purchased Sales Factory, a Greensboro marketing and insights agency that&#x27;s been around since 1984.Why it matters: In North Carolina and beyond, young entrepreneurs are buying up small businesses from founders nearing retirement — part of a phenomenon dubbed the &quot;<a class="gtmContentClick" data-vars-link-text="silver tsunami" data-vars-click-url="https://www.axios.com/2025/11/29/retirement-crisis-social-security-2026" data-vars-content-id="7a6faaac-45d5-40be-af90-2649b31e3c01" data-vars-headline="Why young North Carolina entrepreneurs are buying up Boomer businesses" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/11/29/retirement-crisis-social-security-2026" target="_self">silver tsunami</a>&quot; that&#x27;s resulting in a massive transfer of wealth.

North Carolina Democrats push for early 2028 primary

North Carolina is one of 12 states allowed to bid to be one of the first primary states in 2028.

Politics

North Carolina Democrats are lobbying to make the state one of the first presidential primary contests in 2028, arguing the state reflects the rest of the U.S., given its growing and diverse <a class="gtmContentClick" data-vars-link-text="population" data-vars-click-url="https://www.axios.com/local/raleigh/2026/01/29/north-carolina-kept-growing-last-year-despite-immigration-slowdown" data-vars-content-id="3aa3de09-b521-4564-befe-543e59dd7aa1" data-vars-headline="North Carolina Democrats push for early 2028 primary" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2026/01/29/north-carolina-kept-growing-last-year-despite-immigration-slowdown" target="_self">population</a>.Why it matters: If selected, North Carolina could hold a large influence over which candidate ultimately secures the nomination. It could also attract tens of millions of dollars of investments into statewide campaigns.

The Triangle's college grad boom

The Triangle's universities continue to power the region's growth

News

The Triangle has been one of the leading regions for adding residents with college degrees since the pandemic, a new <a class="gtmContentClick" data-vars-link-text="report" data-vars-click-url="https://www.census.gov/newsroom/press-releases/2026/acs-5-year-gains-educational-attainment.html" data-vars-content-id="49637436-34a4-46c4-b872-bb6949543d3e" data-vars-headline="The Triangle&#x27;s college grad boom" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.census.gov/newsroom/press-releases/2026/acs-5-year-gains-educational-attainment.html" target="_blank">report</a> from the U.S. Census Bureau finds. Why it matters: The Triangle has long prided itself on how much talent its universities produce, helping make the region one of the biggest areas for job growth <a class="gtmContentClick" data-vars-link-text="over the past decade" data-vars-click-url="https://www.cnbc.com/2025/08/03/the-top-10-us-cities-for-job-opportunities-and-earning-potential-according-to-new-report.html" data-vars-content-id="49637436-34a4-46c4-b872-bb6949543d3e" data-vars-headline="The Triangle&#x27;s college grad boom" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.cnbc.com/2025/08/03/the-top-10-us-cities-for-job-opportunities-and-earning-potential-according-to-new-report.html" target="_blank">over the past decade</a>.

Chapel Hill businesses still dealing with effects of tropical storm flooding

Renovations are ongoing at many businesses, while others have closed completely.

More than seven months after <a class="gtmContentClick" data-vars-link-text="Tropical Storm Chantal" data-vars-click-url="https://www.axios.com/2025/07/07/tropical-storm-chantal-north-south-carolina-flood" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2025/07/07/tropical-storm-chantal-north-south-carolina-flood" target="_self">Tropical Storm Chantal</a> significantly flooded parts of Chapel Hill, businesses at the popular Eastgate Crossing shopping center are still working to clean up the mess.Why it matters: The lingering effects of Chantal, which dumped more than 7 inches of rain in 12 hours, have shown just how damaging <a class="gtmContentClick" data-vars-link-text="fast-forming tropical storms" data-vars-click-url="https://www.axios.com/local/raleigh/2025/07/07/tropical-storm-chantal-tropical-weather-triangle-north-carolina-carrboro-chapel-hill-durham" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/07/07/tropical-storm-chantal-tropical-weather-triangle-north-carolina-carrboro-chapel-hill-durham" target="_self">fast-forming tropical storms</a> can be amid intensifying climate change.<ul><li>Chantal caused <a class="gtmContentClick" data-vars-link-text="more than $56 million worth of damage" data-vars-click-url="https://www.newsobserver.com/news/local/counties/orange-county/article310619555.html" data-vars-content-id="1cc3490d-4976-4d4f-a3fa-bca1c4e5b2b0" data-vars-headline="Chapel Hill businesses still dealing with effects of tropical storm flooding" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.newsobserver.com/news/local/counties/orange-county/article310619555.html" target="_blank">more than $56 million worth of damage</a> in Orange County, much of that at Eastgate Crossing. </li></ul>

North Carolina astronaut will see Earth like no human has before

Christina Koch grew up in North Carolina and went to college at N.C. State.

Aerospace

Christina Koch, an astronaut <a class="gtmContentClick" data-vars-link-text="raised in North Carolina" data-vars-click-url="https://www.axios.com/local/raleigh/2023/04/03/north-carolina-astronaut-christina-koch-lands-moon-mission" data-vars-content-id="bca5e5e2-1f51-440d-a98f-7be4e7837597" data-vars-headline="North Carolina astronaut will see Earth like no human has before" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2023/04/03/north-carolina-astronaut-christina-koch-lands-moon-mission" target="_self">raised in North Carolina</a> and educated in the state&#x27;s public schools, is set to fly around the Moon as soon as next month. Why it matters: NASA&#x27;s <a class="gtmContentClick" data-vars-link-text="Artemis II mission" data-vars-click-url="https://www.axios.com/local/huntsville/2026/01/22/huntsville-artemis-ii-nasa-marshall-sls-hls-lunar-mission" data-vars-content-id="bca5e5e2-1f51-440d-a98f-7be4e7837597" data-vars-headline="North Carolina astronaut will see Earth like no human has before" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/huntsville/2026/01/22/huntsville-artemis-ii-nasa-marshall-sls-hls-lunar-mission" target="_self">Artemis II mission</a> marks a new era of space exploration, one that envisions a long-term presence on the Moon and trips to Mars.<ul><li>The spaceflight will provide Koch, a noted photographer, and the rest of the crew with a perspective no human has ever seen.</li></ul>