Virginia Beach has emerged as a beacon for entrepreneurs and small business owners, offering a supportive environment that nurtures innovation and growth. The city’s commitment to fostering a robust business ecosystem is evident through various initiatives and recognitions.
Recognition as a Top City for Small Business
In May 2026, Virginia Beach was honored as the third top city for small businesses in the nation by the Diverse Chamber of Commerce and Industry. This accolade underscores the city’s dedication to entrepreneurship, innovation, and a thriving business community. Deputy City Manager Amanda Jarratt emphasized the importance of a vibrant local business sector to the city’s resilient economy.
Comprehensive Support Programs
The city offers a range of programs designed to support entrepreneurs at various stages of their business journey:
The HIVE: A Resource Hub
The HIVE serves as a one-stop resource center for startups and growing businesses, particularly those in historically underserved communities. It provides free services, strategic partnerships, and expert guidance to help entrepreneurs transform ideas into actionable business plans.
Thrive @ The HIVE
Thrive @ The HIVE is a program offering eligible Virginia Beach entrepreneurs free workspace and business resources for two business days a week over a two-month period. This initiative aims to support startups, home-based businesses, and military spouse entrepreneurs by providing essential tools and a collaborative environment.
Small Business Grant Programs
The Virginia Beach Development Authority (VBDA) has been proactive in supporting local businesses through grant programs. In January 2025, VBDA awarded over $136,000 in Small Business Grants to 16 local businesses, each receiving up to $10,000. These grants are intended to catalyze growth and innovation within the community.
Educational Initiatives
Recognizing the importance of education in fostering entrepreneurship, Virginia Beach City Public Schools established the Entrepreneurship and Business Academy at Kempsville High School. This program offers students rigorous academic curricula with business-themed concepts, preparing them for future entrepreneurial endeavors.
Challenges and Opportunities
Despite the supportive environment, Virginia startups face challenges. A report highlighted that Virginia ranks among the bottom 10 U.S. states for five-year startup survival rates. Factors such as the COVID-19 pandemic and economic fluctuations have impacted early-stage businesses. However, the city’s ongoing efforts to provide resources and support aim to improve these statistics.
Conclusion
Virginia Beach’s commitment to fostering a dynamic and supportive environment for entrepreneurs and small businesses is evident through its various programs and recognitions. By leveraging these resources, local entrepreneurs have the opportunity to thrive and contribute to the city’s economic vitality.