Virginia Beach has emerged as a beacon for entrepreneurs, offering a wealth of resources and earning national accolades for its dynamic small business environment.
Comprehensive Support for Entrepreneurs
The city provides a variety of programs designed to assist entrepreneurs at every stage of their journey. The HIVE, Virginia Beach’s business resource center, offers mentorship, networking opportunities, and essential tools to foster innovation and growth. Entrepreneurs can access one-on-one business counseling, private conference rooms, high-speed Wi-Fi, and participate in free workshops and business forums. These resources are tailored to support startups and growing businesses, particularly those in historically underserved communities.
Additionally, the Thrive @ The HIVE program offers eligible entrepreneurs free workspace and business resources for two business days a week over a two-month period. This initiative is open to Virginia Beach startups, home-based businesses, and military spouse entrepreneurs, providing them with the necessary support to succeed and grow.
National Recognition
Reflecting its strong commitment to entrepreneurship and innovation, Virginia Beach was recently named the third top city for small business in the nation by the Diverse Chamber of Commerce and Industry. This recognition underscores the city’s dedication to creating an environment where entrepreneurs and small business owners are supported, valued, and equipped to succeed.
Access to Capital
Understanding the importance of financial support, the Virginia Beach Development Authority (VBDA) has awarded over $136,000 in Small Business Grants to local businesses. These grants, up to $10,000 each, are designed to help small, women-, minority-, veteran-, and disabled veteran-owned businesses expand and drive economic growth within the community.
Furthermore, the VBDA’s Façade Improvement Grant program has awarded 14 grants in its latest cycle, continuing a six-year initiative that enhances the appearance and vitality of commercial properties across the city. Since its inception, the program has awarded nearly $700,000 to 94 small businesses, sparking approximately $2.5 million in private investment.
Conclusion
Virginia Beach’s robust support system and national recognition make it an attractive destination for entrepreneurs. With comprehensive resources, financial assistance, and a commitment to fostering innovation, the city continues to cultivate a thriving entrepreneurial ecosystem.