1 of 6
Mike Howes, co-founder of SVT Robotics recently launched his business with the guidance ofTim Ryan, director of the Launchpad.
2 of 6
Gretchen Bedell, co-founder of Work Nimbly and owner of creative firm Odd Moxie, said coworking doesn’t just offer office space, but a “community” as well.
3 of 6
Gretchen Bedell, co-founder of Work Nimbly.
4 of 6
SCORE is a national non-profit that offers free small business mentoring and advice. Williamsburg hosts one of only 10 chapters in Virginia.
5 of 6
Terry Walker, SCORE chapter chairman.
6 of 6
Leigh Houghland, regional senior vice president and commercial loan officer for Chesapeake Bank.
Considering starting your own business?
Well, you’re not alone. In terms of entrepreneurship, Greater Williamsburg is on the upswing.
In the first four months of 2019, the City of Williamsburg processed nearly 100 new business licenses. By comparison, the city approved 101 licenses for the entirety of 2018. The trend is much the same in neighboring counties with James City reporting a 16percent increase in business licenses from 2017 to 2018.
With all of this activity, it may seem like starting a new business is a piece of cake, but there’s a lot more to it than filling out paperwork.
Fortunately, Williamsburg is flush with resources to help new businesses get up and running.
Incubator
Launchpad is a local business incubator that helps entrepreneurs, small business owners and start-ups by offering them mentors, training, networking opportunities and a place to call home.
“This is a place where people can walk through the door and not worry about what they know or don’t know,” said Tim Ryan, director of Launchpad. “We are here to help each other succeed and accomplish their goals.”
Joining an incubator has its advantages.
Unlike a brick and mortar storefront, there is no long-term lease at Launchpad. Business owners can take advantage of a collaborative and supportive work environment while they are establishing their financial and business models.
Mike Howes, co-founder of SVT Robotics in Williamsburg, started his company at Launchpad in May of 2018. Since then he has added five full-time employees, an intern and a lab space in the New Town development.
“Tim got us connected with everyone from business mentors to lawyers to accountants,” said Howes. “These are people I never would have known about. Setting up a business entity isn’t as easy as it says on Google.”
Another local resource for new and seasoned entrepreneurs is Ignition. The local non-profit, offers a network of mentors and investors as well as a number of events and competitions throughout the year. Its most notable competition is Shark Tank Virginia, where early startups have the opportunity to pitch their product or idea to a panel of investors and judges in front of a live audience. Since it opened in 2006, Ignition has worked with more than 200 companies/new business owners and helped startups create 20 new jobs.
Coworking
Work Nimbly located near Colonial Williamsburg offers entrepreneurs and business owners the opportunity to work in a creative, collaborative environment. It’s an alternative from working at home–which can be isolating to some–and from owning or leasing an office or storefront, which would require more capital.
Gretchen Bedell, co-founder of Work Nimbly and owner of creative firm Odd Moxie, said coworking doesn’t just offer office space, but a “community” as well.
A weekly meeting called “Cobbler’s Collective” acts as a small business support group where business owners can bounce ideas off each other and get honest feedback.
Business Counseling
New business owners will find no better advocate than the Greater Williamsburg Chamber & Tourism Alliance. The Alliance provides educational seminars, creates networking opportunities and is home to another valuable small business resource, Service Corps of Retired Executives or SCORE.
SCORE is a national non-profit that offers free small business mentoring and advice. Williamsburg hosts one of only 10 chapters in Virginia.
Chapter chairman Terry Walker meets with clients nearly every day and estimates SCORE is providing services to 140 businesses or start-ups in Greater Williamsburg.
“We help new business owners understand where they are in the cycle of starting their business and then match them up with the right tools,” said Walker. “Then, depending on the industry, we can match them up with the right mentor.”
Local Government
Local government offices also offer a plethora of resources. James City County, York County and the City of Williamsburg each have dedicated websites specifically geared towardnew business owners that list information about zoning, available properties, grants, scholarships and incentive programs for new businesses. Employees of each locality’s Economic Development Authority office also welcome questions and inquiries from new or prospective business owners.
Financing and Legal Support
These two areas can sometimes be the most difficult to navigate.
Leigh Houghland, regional senior vice president and commercial loan officer for Chesapeake Bank, said the sooner a prospective business owner can start working with a banker the better.
“Guidance early in the process can help an entrepreneur understand what is realistic or not in terms of bank financing,” said Houghland. “Through consultation with a banker, often the client will refine their business plan and revenue expectations. We also have close relationships with attorneys and accountants who can all serve as partners for a new business owner.”
Bedell emphasized the importance of working with an attorney.
A lawyer can help with drafting corporate documents, negotiating with investors, establishing leases and contracts and making sure your business is set up properly.
“You need a good solid lawyer that is willing to work with you,” said Bedell. “A lot of people don’t realize they are service providers and that you can go and ask them questions.”
After nine years as a government contractor, Amy McCluskey found her entrepreneurial spirit and is now a full-time realtor and part-time freelance writer.
Chesapeake Bank-Leigh Houghland · 877-695-8249
Launchpad-Tim Ryan · 757-565-4373
Odd Moxie, Work Nimbly-Gretchen Bedell · 757-561-0779 · awesome@oddmoxie.com
SCORE-Terry Walker · 703-966-5700
SVT Robotics-Mike Howes · 757-524-0688