Winston-Salem, a city in North Carolina known for its historic charm and vibrant culture, has long been a hub of innovation and entrepreneurial spirit. This city, often associated with thriving industries such as tobacco, textiles, and furniture, has witnessed a transformative journey that underscores the importance of entrepreneurship.
The birth of entrepreneurship in Winston-Salem can be traced back to the late 19th and early 20th centuries. The city was a booming industrial hub during the industrial revolution, with the establishment of two of the most notable businesses, the R.J. Reynolds Tobacco Company and Hanes Brands.
Richard Joshua Reynolds, founder of the R.J. Reynolds Tobacco Company, is perhaps one of the city’s most notable entrepreneurs. His innovative approach to marketing and manufacturing led to the creation of some of the most popular tobacco products. His vision led to the invention of a multi-million dollar company and helped shape Winston-Salem into a bustling industrial city.
The Hanes family, contemporaries of Reynolds, brought another industry to the forefront in Winston-Salem. The Hanes Brands, known worldwide for their apparel, particularly undergarments, got the city a new wave of manufacturing jobs while reinforcing the area’s entrepreneurial spirit.
One of the most prominent figures in Black entrepreneurship in Winston-Salem’s history is Simon Green Atkins. A prominent educator and college founder, Atkins established Winston-Salem’s first building and loan association for Black residents in the early 1900s. Atkins’ enterprises provided much-needed financial services to the Black community and spurred Black economic development during institutionalized racial segregation.
The legacy of Black entrepreneurship in Winston-Salem continues to thrive today. The city is now home to a multitude of successful Black-owned businesses spanning various sectors, including food services, retail, technology, creative arts, and more.
In the 21st century, Winston-Salem has become a center for entrepreneurship and innovation in technology, healthcare, and creative arts. With the decline of the tobacco and textile industries in the late 20th century, the city faced an economic challenge. But the resilient spirit of Winston-Salem led to a shift from traditional manufacturing industries to more innovative and knowledge-based businesses.
The Innovation Quarter, one of the fastest-growing urban-based districts for innovation in the United States, is a testament to this transformation. Home to more than 170 companies, five leading academic institutions, and over 3,600 workers and 1,800 degree-seeking students, the Innovation Quarter is the epitome of the city’s progressive entrepreneurial spirit.
Adding to this, the establishment of the Center for Creative Economy has fostered an environment conducive to creative and innovative startups, providing them with the resources and mentorship they need to flourish. The arts, a significant part of the city’s culture, have seen a surge in entrepreneurial ventures, including our strategic storytelling studio, Likewise Media, offering a unique blend of traditional storytelling with modern videography.
Winston-Salem’s entrepreneurial ecosystem also supports and promotes social entrepreneurship, with organizations like Greater Winston-Salem working to build a more inclusive economy. Greater Winston-Salem, Inc. works to develop a vibrant, thriving community that’s good for business growth and sustainability. With focus areas in economic development, talent recruitment and retention, career readiness, and advocacy, their focus is to help businesses and communities grow.
The entrepreneurship journey in Winston-Salem is a narrative of transformation, resilience, and forward-thinking. It is a story of how a city steeped in industrial history managed to evolve with changing times, constantly reinventing itself to remain a stronghold of innovation and entrepreneurial activities. The entrepreneurs of Winston-Salem are not just business owners; they are the architects of the city’s progress, the drivers of change, and the bearers of a long-standing legacy.
So, as we chronicle the captivating tales of this city through our lenses, we pay homage to this entrepreneurial spirit that characterizes Winston-Salem. We believe in the power of storytelling and its capacity to inspire, engage, and drive change, much like the entrepreneurs of this city who continue to shape its destiny.
We invite you to join us on this journey, explore Winston-Salem’s past, witness its present, and envision its promising future.
