U.S. Bank backs 'Shark Tank'-style competition among small businesses in Carolinas

SCORE Charlotte's annual contest helps take small businesses to the next level

Magliore Lubika knows all too well that convenience stores located in neighborhoods without supermarkets rarely offer healthy, fresh food options.

"My parents operated convenience stores for 21 years in urban and rural areas, and during that time we were their best employees," Lubika said during his presentation to a panel of five expert judges at the SCORE Charlotte Pitch for Growth 2023. "We understand convenience stores. That's why we're trying to redefine them."

Lubika and his brothers' business was good enough to win among 10 small business finalists from North and South Carolina in the first-ever "Shark Tank"-style event held by SCORE Charlotte. The brothers' Surefire Neighborhood Market, which provides affordable, healthy options to the Sunset Park neighborhood in Rock Hill, South Carolina, earned the top prize of $5,000.

In addition to the prize money, Surefire and all nine other finalists received one-on-one mentoring advice from SCORE. The nonprofit, a resource partner to the Small Business Administration, has a mission to support and grow the small business community through free mentoring and educational resources. There are more than 10,000 SCORE-certified mentors across the country, many of whom are retired small business owners or corporate executives who volunteer their time with the organization.

The Pitch for Growth is geared at existing small businesses in the Charlotte area that already had experienced "a little bit of success" and are looking to expand, said Barbara Brill, president of SCORE Charlotte, which serves 13 counties in North Carolina and three in South Carolina. Surefire, for example, began in 2022 when Lubika and his brothers took over one of their parents' convenience stores and renovated it into a neighborhood market - with an ultimate business plan of expanding into other communities that don't have nearby options for fresh, healthy food.

"Even the businesses that didn't win the cash prizes still won by gaining experience, and the ability to tell their story in a compelling narrative to investors -- or anyone else - to take their business to the next level," Brill said.

U.S. Bank served as presenting sponsor of the 2023 competition, and is returning again in 2024. The U.S. Bank Foundation has provided funding to SCORE in several other markets in addition to Charlotte across the U.S., including San Diego, Las Vegas and Reno, Nevada.

"I loved seeing so many businesses from the community that represented all walks of life" at the competition, said Kimberly Edwards, U.S. Bank Business Access Advisor based in Chalotte, who provided mentoring to several of the 2023 competitors and helped organize the final competition, including enlisting the services of nationally recognized business coach Sharita Humphreys, CEO of Change In Motion, to help finalists refine their presentations.

As a Business Access Advisor (BAA) at U.S. Bank, Edwards goal is to help underserved small businesses thrive by providing them access to information, connections and other resources. The BAA program is part of U.S. Bank Access Commitment®, the bank's long-term approach to help close the wealth gap for underserved communities, including communities of color.

"The Pitch Competition aligns with our goals as Business Access Advisors to help assist diverse owned businesses to build wealth," Edwards said. "Surefire Market is a perfect example of a newer generation preserving and building upon the wealth their family worked hard to build."

The 2023 runners up included a charter school started by a former public-school teacher who was inspired to start her own school focused on outdoor learning and a business that provides customized, permanent jewelry.

"Small businesses are the engines of our economy. And they have their ears to the ground with what is happening with their customers and that puts them in a position - like Surefire Market - to easily tweak their model to meet the needs of the community," Edwards said.

Applications for the 2024 Charlotte Pitch for Growth open on August 12, with the final competition to be held in mid-November.

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