History of Business in North Carolina — Overview

   
    This is the historic and economic story of the Old North State, from Colonial times to the 21st Century. The early history of business in North Carolina is much more complex and developed than has previously been reported. This lack of recognition could have been caused by relatively few surviving journalistic publications of the period and the disruption caused by the Civil War.
   

This site will provide detailed histories of industries (click for specific industries) and individual businesses, as well as biographical entries on some of the major business leaders in North Carolina.
(Note: We have started the research in the antebellum period, which requires the most research, and will add information on later periods as we have time.)
   North Carolina began as an agricultural colony and state. One problem affecting commerce through the 17th and early 18th centuries was the limited transportation, with much of the state's products having to travel down river through Charleston and South Carolina or through Virginia.

Early Industries
   Examples of early rural industries included wagon making, grist mills, cotton gins, saw mills, cane mills, cabinet/furniture making and much more. 

  In 1790, North Carolina ranked third in population in the U.S., but steadily slipped to fifth place by 1820. The population basically stayed level until 1840 due to ongoing emigration from the state to new states. In 1810, the state was one of the leading industrial states, outranking Massachusetts. But reliance on agriculture, closing of British ports and economic malaise caused the state to drop well down the industrial list by 1830.
   

For example, a great depression set in prices for North Carolina products during the 1820s and early 1830s. The loss of West Indies trade has lessened demand for lumber and heavy British taxation on tobacco depressed that market. North Carolina cotton began feeling the impact of new cotton fields in Gulf Coast states.

 Poor transportation exacerbated the problems. Few navigable rivers and little road building had the state and residents at a serious disadvantage.

Source: www.historync.org