Entrepreneurship in Virginia

Home of the Chesapeake Bay Bridge Tunnel, it's no wonder that Virginia is the birthplace of so many famous inventors and entrepreneurs.

With people like Kim Guarino (CEO of Evolve Marketing), Pete Howton (serial defence entrepreneur), and Ric Fleisher (serial tech entrepreneur) to look up to, Virginians love to lead entrepreneurial teams that change the world.

Everything from the steamship to the reaper machine was invented in Virginia, and that's just the beginning. As the housing market explodes in these rolling hills, so will the rest of the market. So embrace Virginia’s spirit and start your dream business.

Registering Your Business

Registering your business is one of the first steps to success.

And in Virginia with a 100 dollar fee for starting an LLC it's important you get it right.

Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.

Click here to learn more.

Market Analysis

Before you start your business, look around to understand the market in virginia.

In July of 2021 CNBC called Virginia the best state in which to conduct business.

According to taxfoundation.org

Competitor Analysis

Another good way to understand Virginia's market is to look at the Chambers of Commerce data sheets. Roanoke Chamber of Commerce Demographics

You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.

We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.

Labor Statistics

Virginia is full of hard working people that can be amazing assets to your company.

Here's some statistics.

Unemployment rate in Virginia:

3.6%

virginia.gov

Labor Statistics

Average annual salary in Virginia:

62,096 dollars

31 dollars an hour

Zip Recruiter

Education levels for residents of 25 and older:

Associate degree:

10.9%

Educational Attainment

Bachelor degree

24.3%

Educational Attainment

Graduate or Professional degree

14.1%

Educational Attainment

Housing Market

With 46.4% of homes sold above listing price that means that the housing market is competitive.

Virginas composite housing index is 88.7.

General Advice

Virginia is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.

If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business . Use both of them to get started on the right foot from day one.

Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.

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