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communities seeking to enhance their economies. Once successful in one arena, many of these entrepreneurs end up founding numerous enterprises over the course of their lifetime and often become sought -out resources for other entrepreneurs. Because of UNC and RTP, the Orange County entrepreneur comrunity includes healthy populations of all, although there is a greater proportion of Social, Growth, and Serial Entrepreneurs for an area of its size. Supporting Access to Capital Orange County and the Triangle offer a host of small business resources ranging from business education to technical assistance programs through local, community college, university, state, federal, and non- profit organizations. Because their assets are few and their employment base is small, site selection requirements for entrepreneurs and small business tend to include lower lease rates and flexible leasing terms as well as access to support resources, such as reception, payroll, and logistics services. However, regardless of business location, locally or nationally, one of—if not the —top challenges for entrepreneurs and small businesses is access to capital. This especially is true for service- and knowledge -based start- ups and small business, which have few, if any, tangible assets to use as collateral. Although North Carolina is home to several venture capital organizations, most are for later stage companies, with the percentage of all venture capital designated as start -up or seed is below the national average. Moreover, even though VC funding is increasing slowing, overall, the state's share of national venture capital is in decline11. Although SBIR and STTR awards are increasing, many entrepreneurs and small business owners end up financing their businesses through personal means, such as credit cards, 401(k) and IRA funds, and home equity loans, leaving them with limited ability to raise the capital they need to survive. Even asset -rich start-ups/small businesses such as light manufacturing or research laboratories struggle with financing, especially when preparing for growth and expansion. Just -in -time build -up and inventory management practices have become the norm. Rapidly changing technology, market conditions, and consumer behavior means that business cannot afford to invest heavily in inventory or make poor choices in facilities, For these reasons, flexible small business and micro-business loan funds capable of serving such a population are one of the most powerful tools in fostering local business development. Loan fund decision - makers and administrators often know the individuals involved and have greater insight into future potential. In addition, the lending/repayment process tends to strengthen ties between the business and the surrounding community. Lowering Site Selection Risk Equally important to a business' success is selecting where to locate, whether moving from the kitchen table to free- standing commercial space or expanding existing operations. No decision is as risky to business as site selection. Requiring significant investment in resources and opportunity costs, locating a business in the wrong location is as deadly as it is beneficial when an optimal site is chosen. Large or small, businesses throughout the country consistently cite the same criteria used when determining where to expand. The larger the business, the more they view these criteria as being important. Although the specific criteria have remained unchanged over the past 10 years, the relative importance of each has varied from year to year. Figure 2 focuses on the priorities cited by site selection specialists over the past three year s12. 112009 North Carolina Economic Index 12 Site Selection survey October 2007, October 2008, and October 2009 71Page