Small businesses are the lifeblood of the United States economy, and you can use your ideas and determination to contribute to your local economy. An estimated 33 million small businesses operate in the U.S., and you can join them.
Part of the challenge of starting a new business venture is determining where to establish your business. Opening a business in Northern Virginia provides several benefits worth exploring. It’s a stunning part of the country with the infrastructure and resources to help your Virginia business grow and thrive.
Fortunately, starting a business is not a venture you must tackle alone. You’ve found the right place to learn about the eight reasons to start a business in Northern Virginia. Continue reading to learn more today!
1. Home Of The Internet
Virginia is the largest hub for internet processes in the world. Over 70 percent of all internet traffic travels through Virginia due to the several data centers there.
The massive facilities housing the data servers cover millions of square feet. They’re vital for consumers, businesses, and schools reliant on the Internet for teaching and commerce.
The state’s commitment to these data centers makes it a backbone for massive corporations like Amazon. Northern Virginia is the place to go if you want to start an internet-based business.
Your small business’s proximity to these data centers ensures top-notch internet speeds. This is a significant selling point if you’re considering opening a business in Northern Virginia.
2. Lucrative Industries
Due to its proximity to Washington, D.C., Virginia is a massive technology and aerospace engineering hub. It’s also a top region for agriculture and engineering. The military industry and mining enterprises are also significant in Northern Virginia.
Virginia is an underrated state to consider if you want to enter an industry with potential for innovation and growth. You’ll be surrounded by corporations operating in the most tech-based sectors in the world.
3. Golden Age For Entrepreneurs
Entrepreneurs are finding significant success with their business ideas when starting in Northern Virginia. It’s one of the top markets in the U.S. for entrepreneurs looking for a place to make their first break.
Richmond is at the center of this golden age, with college students enrolling in courses to help them get their ideas off the ground. It’s the perfect time to join the movement and form your small business in Northern Virginia.
The drawback is the increased competition in the market, depending on your industry. The benefit is that you’ll find a community dedicated to helping startups and small businesses thrive.
4. Growing Economy
The local economy is beginning to take off in Northern Virginia, making it an ideal time to become a business owner and capitalize on the boom. Agriculture, technology, and manufacturing are all growing at impressive rates in the region.
Growth has primed Virginia to become a breakout star for these industries, drawing more people to the state in search of work and a better life. You’ll find better employees for your startup and generate more revenue from the increasing number of consumers.
5. Easy Transportation
Transportation is simple when operating a business in Northern Virginia due to the robust infrastructure in the region. You’ll find over a dozen commercial airports in the area, with two of the busiest international airports in the nation nearby.
You’ll have access to international flights to other markets to grow your brand and meet with potential partners due to Dulles and Ronald Reagan International Airports.
The Port of Virginia is another perk to consider for your small business. The port will help you manage your supply chain and ship your products to customers in different markets. It’s a vital resource to expand into international markets as your brand grows.
6. Research And Development Tax Credits
Taxes are an unfortunate reality of life and business. Despite the extra expense, the Virginia government is making life easier for business owners in the state by offering a research and development tax credit.
You’ll get a credit equal to ten percent of your annual qualifying expenses and 50 percent of the average costs from your previous three years. It’s an excellent way to save money that you can invest in other parts of your brand.
If your new business didn’t qualify for previous years, you’ll receive a five percent credit on your qualifying expenses. Contact Matt Calkins for other beneficial tips to determine if Northern Virginia is the ideal spot for your next business venture.
7. New Company Incentive Program
Virginia understands the importance of a thriving small business economy, and the New Company Incentive Program further supports its initiative. The program allows your small business to skip paying corporate taxes.
Your business will also gain access to grants and other programs to inject money into your new venture. You’ll receive up to $2,000 for each new job you create for six years.
The program requires you to create at least 50 new jobs or invest $5 million and create 10 new jobs to qualify. You can apply with the state to access the incentive program.
8. Access To Markets
Northern Virginia is prime real estate for access to several large cities and markets. Markets like Alexandria and Richmond are among the best within Virginia’s borders, but other large cities are a few hours of driving away.
You’ll have several opportunities to expand into markets like Morganton, Philadelphia, Baltimore, Washington, D.C., and Charlotte. The proximity to these markets makes dreams of expansion feasible and affordable.
Take advantage of the location and the best business tips to reach tens of millions of consumers. It’s one of the best locations to open a small business.
Open Your Company In Northern Virginia Today
Opening a small business in Northern Virginia provides several benefits, making it a top location for your business venture. The Richmond area is a hub for entrepreneurs, and the region is home to most of the world’s internet data centers. You’ll enjoy access to several large markets with impressive infrastructure.
Turning an idea into a successful business venture takes creativity and determination. Use our Startup business content to find inspiration and business tips to build your brand!
