Virginia Named a Top State for Small Business

The Commonwealth of Virginia continues to be a leader when it comes to creating a business-friendly environment for existing  companies, small businesses, and startups. 

In a recent survey conducted by online professional marketplace Thumbtack.com in partnership with the Ewing Marion Kauffman Foundation, found that Virginia ranked fourth out of all states in Small Business Friendliness. The study drew from data straight from the source: 12,000 small business owners across the country to gauge each state’s business environment from those who operate inside the system. 

“After a two-month survey of thousands of small business owners nationwide, business owners have reaffirmed that Virginia is a premier destination for starting and running a business,” says Jon Lieber, Chief Economist of Thumbtack. “Creating a business climate that is welcoming to small, dynamic businesses is more important than ever, and Virginia’s A+ grade by its small businesses shows what a welcoming and friendly place the Commonwealth is for entrepreneurs.”

The survey cited several factors that played into Virginia’s ranking, including African American business owners feeling especially supported by the state government, business owners in the state being optimistic about hiring in the next year, and the friendliness of the state’s health and safety, labor, and licensing regulations. Nationwide, the availability of training programs was a big factor in determining where business owners ranked their state. 

In a separate ranking, using different methodology, CNBC ranked Virginia as one of the Top 10 States for Business, putting the Commonwealth at Number 8. Using 56 measures of competitiveness based on input from business groups, economic development experts, companies, and state governments. The state received the highest marks in the categories of workforce, technology and innovation, business friendliness, and education.

Overall, these two studies show Virginia is on the right track when it comes to attracting business, and the Roanoke Region is a major benefactor. With support from the state in the realms of licensing, incentives, workforce development programs, and the ease of registration, the region’s business climate is as competitive as ever.