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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 farmers are in tariff limbo

Soybean farmers in North Carolina are struggling with rising costs for fertilizer and equipment

North Carolina farmers are grappling with renewed uncertainty after the U.S. Supreme Court <a class="gtmContentClick" data-vars-link-text="struck down many of the Trump administration&#x27;s sweeping global tariffs" data-vars-click-url="https://www.axios.com/2026/02/20/trump-tariffs-supreme-court-illegal" data-vars-content-id="93bcc260-7408-43cd-a955-bffdb63ae970" data-vars-headline="North Carolina farmers are in tariff limbo" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2026/02/20/trump-tariffs-supreme-court-illegal" target="_self">struck down many of the Trump administration&#x27;s sweeping global tariffs</a>. Why it matters: North Carolina farmers of soybean and corn, the state&#x27;s <a class="gtmContentClick" data-vars-link-text="two biggest crops by acreage" data-vars-click-url="https://www.nass.usda.gov/Quick_Stats/Ag_Overview/stateOverview.php?state=NORTH%20CAROLINA" data-vars-content-id="93bcc260-7408-43cd-a955-bffdb63ae970" data-vars-headline="North Carolina farmers are in tariff limbo" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.nass.usda.gov/Quick_Stats/Ag_Overview/stateOverview.php?state=NORTH%20CAROLINA" target="_blank">two biggest crops by acreage</a>, are stuck in a <a class="gtmContentClick" data-vars-link-text="cost-price squeeze" data-vars-click-url="https://www.extension.iastate.edu/news/farmers-challenged-persistent-cost-price-squeeze-dynamics" data-vars-content-id="93bcc260-7408-43cd-a955-bffdb63ae970" data-vars-headline="North Carolina farmers are in tariff limbo" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.extension.iastate.edu/news/farmers-challenged-persistent-cost-price-squeeze-dynamics" target="_blank">cost-price squeeze</a> that has been elevated by tariffs, said Charles Hall, the executive director of the <a class="gtmContentClick" data-vars-link-text="N.C. Soybean Producers Association" data-vars-click-url="https://www.ncsoy.org/staff" data-vars-content-id="93bcc260-7408-43cd-a955-bffdb63ae970" data-vars-headline="North Carolina farmers are in tariff limbo" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ncsoy.org/staff" target="_blank">N.C. Soybean Producers Association</a>.<ul><li>In other words, farmers are paying more for equipment and other inputs — in part because of tariffs — than they&#x27;re earning from crop sales.</li></ul>

Local Limelight: Nida Allam on life in Durham and the rematch

The Durham commissioner shares favorite spots in Durham, talks primary rematch.

Politics

Nida Allam says in her three decades in the Triangle, one of the most beautiful things she&#x27;s witnessed is the blossoming of a vibrant community of immigrants.Why it matters: The county commissioner launched a <a class="gtmContentClick" data-vars-link-text="congressional bid" data-vars-click-url="https://www.axios.com/local/raleigh/2025/12/12/north-carolina-4th-congressional-district-democratic-primary" data-vars-content-id="5d1d3b7f-8de9-4ad7-81a8-8b04ae97b51c" data-vars-headline="Local Limelight: Nida Allam on life in Durham and the rematch" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/12/12/north-carolina-4th-congressional-district-democratic-primary" target="_self">congressional bid</a> at a time when <a class="gtmContentClick" data-vars-link-text="immigration" data-vars-click-url="https://www.axios.com/local/raleigh/2025/12/03/ice-border-patrol-tactics-north-carolina-fear" data-vars-content-id="5d1d3b7f-8de9-4ad7-81a8-8b04ae97b51c" data-vars-headline="Local Limelight: Nida Allam on life in Durham and the rematch" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/raleigh/2025/12/03/ice-border-patrol-tactics-north-carolina-fear" target="_self">immigration</a> is front and center in American politics.

The most watched primary in North Carolina

A loss for Berger would change the levers of power in the N.C. General Assembly

Residents of Reidsville, a town of nearly 15,000 north of Greensboro in Rockingham County, say they are tired of the mailers piling up in their mailboxes, exhausted of the ads that show up every time they turn on the TV or open Facebook, and wary of people knocking on their doors. <ul><li>&quot;It&#x27;s incredibly annoying, the amount of political material being sent out. They had some guy come up on my porch,&quot; Kelly Carl, 57, of Reidsville, told Axios, questioning the tactics of campaigning in <a class="gtmContentClick" data-vars-link-text="state Senate District 26" data-vars-click-url="https://www.ncleg.gov/Members/Biography/s/64" data-vars-content-id="d9ab1d8e-c9e7-439a-a7dc-252763492229" data-vars-headline="The most watched primary in North Carolina" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ncleg.gov/Members/Biography/s/64" target="_blank">state Senate District 26</a>. </li></ul>Why it matters: The approach is probably necessary, though. The showdown between Phil Berger, the most powerful Republican in the state, and Rockingham County Sheriff Sam Page could change the trajectory of North Carolina politics. <ul><li>If Berger were to lose to the charismatic cowboy hat-donning sheriff, whose name recognition locally rivals the incumbent, it would transform the levers of power in Raleigh, where Berger has wielded broad influence since <a class="gtmContentClick" data-vars-link-text="leading a Republican takeover " data-vars-click-url="https://www.theassemblync.com/news/politics/the-motivations-of-phil-berger/" data-vars-content-id="d9ab1d8e-c9e7-439a-a7dc-252763492229" data-vars-headline="The most watched primary in North Carolina" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.theassemblync.com/news/politics/the-motivations-of-phil-berger/" target="_blank">leading a Republican takeover </a>of the N.C. General Assembly 2010. </li></ul>

Raleigh's restaurant pay falls after COVID peak, still higher than average

It's a reflection of inflation's impact on restaurants and consumers alike.

News

Raleigh metro restaurant workers are seeing bigger-than-average paychecks ahead of the holidays, but their wage growth has overall declined since a post-pandemic peak.Driving the news: Wage growth for the local industry was at 7.8% in October, down from a peak of 13.4% in November 2021.

There's been an uptick in COVID-19 cases in North Carolina

If you noticed more people contracting COVID-19 recently, there's an uptick in cases

COVID

If you&#x27;ve noticed more people coming down with COVID-19 recently, it&#x27;s because there&#x27;s been an upswing in cases once again.Driving the news: The late-summer spread comes as new variant <a class="gtmContentClick" data-vars-link-text="EG.5" data-vars-click-url="https://covid.cdc.gov/covid-data-tracker/#variant-proportions" data-vars-content-id="f7c2e04f-6fed-4db0-ad73-a8e89e03d01c" data-vars-headline="There&#x27;s been an uptick in COVID-19 cases in North Carolina" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://covid.cdc.gov/covid-data-tracker/#variant-proportions" target="_blank">EG.5</a> is now the dominant form in the U.S., per CDC estimates — though it&#x27;s unclear if that variant is directly responsible for the rising numbers.

The future of the Triangle's growth, according to PNC's Jim Hansen

There is a concern that while transplants are thriving and taking high-paying jobs, we aren't preparing Triangle-born residents to benefit as much.

The Triangle&#x27;s economy remains one of the strongest in the nation, attracting thousands of newcomers every year. But concerns over whether that growth will be equality distributed are real, according to one of the region&#x27;s most influential bankers.Driving the news: In a conversation with Axios, Jim Hansen, the regional president for PNC Bank&#x27;s operations in Raleigh, said that the Triangle continues to benefit from a healthy mixture of steady industries, like health care and universities, alongside a strong science and technology scene.

Ivermectin doesn't meaningfully aid COVID-19 recovery, study finds

The study from Duke is one of the largest studies of the ivermectin.

Ivermectin, a drug used to treat parasitic infections, has no meaningful benefit for treating COVID-19 symptoms, according to a <a class="gtmContentClick" data-vars-link-text="new study" data-vars-click-url="https://link.axios.com/click/28073535.9045/aHR0cHM6Ly9jb3Jwb3JhdGUuZHVrZWhlYWx0aC5vcmcvbmV3cy9zdHVkeS1maW5kcy1uby1iZW5lZml0LXRha2luZy1pdmVybWVjdGluLWNvdmlkLTE5LXN5bXB0b21zP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1uZXdzbGV0dGVyX2F4aW9zbG9jYWxfcmFsZWlnaCZzdHJlYW09dG9w/624a478d8de5d288030b4174B5cca27ff" data-vars-content-id="7aa97ac2-75c3-4216-bb29-d4b9944734ac" data-vars-headline="Ivermectin doesn&#x27;t meaningfully aid COVID-19 recovery, study finds" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/28073535.9045/aHR0cHM6Ly9jb3Jwb3JhdGUuZHVrZWhlYWx0aC5vcmcvbmV3cy9zdHVkeS1maW5kcy1uby1iZW5lZml0LXRha2luZy1pdmVybWVjdGluLWNvdmlkLTE5LXN5bXB0b21zP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1uZXdzbGV0dGVyX2F4aW9zbG9jYWxfcmFsZWlnaCZzdHJlYW09dG9w/624a478d8de5d288030b4174B5cca27ff" target="_self">new study</a> from Duke University.<ul><li>Duke and Vanderbilt University researchers studied around 1,500 people with COVID-19, with half receiving ivermectin and the other a placebo.</li></ul>

Teachers in NC and across the country are overwhelmed

Teachers in NC and across the country are overwhelme

American teachers have long been navigating stagnant wages — but the increasing stress in classrooms is causing some to second guess their profession. Context: In the last two years, demands on educators have mounted as they’ve been forced to navigate both a pandemic and intensifying political interference in their lesson plans. <ul><li>As the school year wraps up, the threat of school shootings has once again risen to the forefront of many teachers’ minds, including in North Carolina.</li></ul>Why it matters: Many experts warn of a looming staffing crisis, Axios’ Erica Pandey and Alison Snyder write.

Mapping North Carolina's poverty rate by county

Poverty rates were declining going into the pandemic.

North Carolina&#x27;s poverty rates were declining before the start of the COVID-19 pandemic, new Census data shows.By the numbers: The latest five-year figures from the <a class="gtmContentClick" data-vars-link-text="2016-2020 American Community Survey" data-vars-click-url="https://data.census.gov/cedsci/all?q=North%20Carolina%20poverty" data-vars-content-id="dd423844-72e1-468a-89de-4d2c3beddb31" data-vars-headline="Mapping North Carolina&#x27;s poverty rate by county" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://data.census.gov/cedsci/all?q=North%20Carolina%20poverty" target="_blank">2016-2020 American Community Survey</a> reveal 14% of North Carolina residents earned incomes below the <a class="gtmContentClick" data-vars-link-text="federal poverty line" data-vars-click-url="https://link.axios.com/click/27518604.18/aHR0cHM6Ly9hc3BlLmhocy5nb3YvdG9waWNzL3BvdmVydHktZWNvbm9taWMtbW9iaWxpdHkvcG92ZXJ0eS1ndWlkZWxpbmVzL3ByaW9yLWhocy1wb3ZlcnR5LWd1aWRlbGluZXMtZmVkZXJhbC1yZWdpc3Rlci1yZWZlcmVuY2VzLzIwMjAtcG92ZXJ0eS1ndWlkZWxpbmVzP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zZW5kdG9fbG9jYWxuZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/624a478d8de5d288030b4174B4695a105" data-vars-content-id="dd423844-72e1-468a-89de-4d2c3beddb31" data-vars-headline="Mapping North Carolina&#x27;s poverty rate by county" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/27518604.18/aHR0cHM6Ly9hc3BlLmhocy5nb3YvdG9waWNzL3BvdmVydHktZWNvbm9taWMtbW9iaWxpdHkvcG92ZXJ0eS1ndWlkZWxpbmVzL3ByaW9yLWhocy1wb3ZlcnR5LWd1aWRlbGluZXMtZmVkZXJhbC1yZWdpc3Rlci1yZWZlcmVuY2VzLzIwMjAtcG92ZXJ0eS1ndWlkZWxpbmVzP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1zZW5kdG9fbG9jYWxuZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/624a478d8de5d288030b4174B4695a105" target="_self">federal poverty line</a> ($12,760 for a single person in 2020).

COVID 🦠

Raleigh's restaurant pay falls after COVID peak, still higher than average

There's been an uptick in COVID-19 cases in North Carolina

The future of the Triangle's growth, according to PNC's Jim Hansen

Ivermectin doesn't meaningfully aid COVID-19 recovery, study finds

Teachers in NC and across the country are overwhelmed