Entrepreneurship

Innovative small businesses in newer and emerging industry sectors will increasingly be the lifeblood of the economy in western North Carolina.  That’s why Cherokee Preservation Foundation helped the Tribe’s community development corporation go through the rigorous process to become a community financial development institution (CDFI) that has received funding from the Foundation, the Tribal government and various agencies of the federal government.  The CDFI is now known as the Sequoyah Fund.

The Sequoyah Fund, the Cherokee Business Development Center and Cherokee Preservation Foundation are spearheading efforts to drive entrepreneurship on the Qualla Boundary and in the surrounding region.

The Foundation has provided nearly $5 million in grants to the Sequoyah Fund so it can make low-interest loans to tribal members who want to start or expand businesses.  The Sequoyah Fund has received other funds for a total portfolio of $7.2 million, and this resource has helped to create more than 560 jobs on the Qualla Boundary over the past decade.

Loans aren’t made until prospective borrowers with no prior experience running a business receive training from the Sequoyah Fund and help from a Cherokee Business Development Center Counselor.  The Sequoyah Fund utilizes the North Carolina REAL (Rural Entrepreneurship through Action Learning) training program, as well as the more academic, culturally relevant approach of the Indianpreneurship program developed by ONABEN as it trains new entrepreneurs.

The Foundation and the Sequoyah Fund are also taking steps to teach entrepreneurial skills to college students at community colleges in the region and to children in the Cherokee school system.  The REAL program is the cornerstone of entrepreneurship training at Haywood Community College, Southwestern Community College and Tri-County Community College. The colleges’ commitment to providing REAL to regional residents led the Sequoyah Fund and Cherokee Preservation Foundation to sponsor an annual business plan competition that is open to students at the three colleges.

Now the Sequoyah Fund and the Foundation are collaborating with Cherokee Central Schools on integrating entrepreneurial concepts into the elementary, middle and high school curricula.  Cherokee schools teachers are receiving North Carolina REAL training, and students will participate in their first business plan competition during the 2011-12 school year. 

The winning student’s plan can become a reality. While a student wouldn’t be old enough to qualify for a loan, the Sequoyah Fund can work with their parents to help them get the start-up money they need.  Young people on the Qualla Boundary with passion for their business concept and a sound business plan have an opportunity to grow a business that many other young people don’t have.

The Sequoyah Fund’s newest focus is on green loans supported by their New Economy Fund, which is available to environmentally responsible, knowledge-based or creative economy businesses located on the Qualla Boundary or in the seven far-western counties of North Carolina.

For More Information

For grant information contact Daniel Martin, Cherokee Preservation Foundation, at 828/497-5550 or at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. . 

For information about entrepreneurship, contact:

Russ Seagle, Sequoyah Fund, at 828/497-8142 or at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .
Gloria Rattler, Cherokee Business Development Center, at 828/497-1669 or at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. .