STARTING, RELOCATING OR EXPANDING YOUR BUSINESS IN RICHMOND, VIRGINIA
The Department of Economic Development is here to help you build and grow a healthy business in the City of Richmond, whether you have a business of 10,000 employees or only one.
There are many milestones that a successful business must reach before starting, relocating or expanding current operations. From finding the right location for your business to taking advantage of tax incentives, the Department of Economic Development can guide you every step of the way.
Before Getting Started
Check Your Credit
You will need good credit. Try to remedy any problems on your credit reports before meeting with a lender. If any discrepancies appear on your credit reports that are due to circumstances beyond your control, include a detailed written explanation with supporting documentation in your financial proposal.
You can obtain a FREE credit report annually from the three major credit bureaus:
Equifax: 1.800.685.1111
Experian: 1.888.397.3742
TransUnion: 1.877.322.8228
Choosing a Type of Business
Choose a business based on your skills, interests and the need for a product or service in your market area. It is helpful to conduct research to determine whether your business will prosper in your prospective location. You may want to consult a local research firm to assist you in this process:
Southeastern Institute of Research Inc
Matrix Marketing Research Group Inc
Getting Started
Business Start-up Checklist
Please click on the link below to find a checklist that will help you begin your steps to starting, expanding or relocating your business in the City of Richmond:
BUSINESS CHECKLIST: STARTING, EXPANDING OR RELOCATING A BUSINESS IN THE CITY OF RICHMOND
Business Registration Guide
The Virginia State Corporation Commission (SCC) also offers a state-wide Business Registration Guide that can assist you when starting, expanding or relocating your business to Virginia.
Business Tax Descriptions
When starting up, it is important to identify which taxes apply to your business. For a list of tax descriptions, you can browse the Department of Finance's website or click on the following links:
Vendor's License
Not ready to start a full-blown business? A sidewalk table or cart may be an option if you're interested in selling merchandise or food. For sidewalk sales, you will need a Vendor's License, which is different than a regular Business License. Find out more information on how to obtain a Vendor's License in the City of Richmond:
Additional Start-Up Resources
Interactive Guide to Setting Up a Business In Richmond, Virginia
For more information, helpful tips, forms and resources to help you develop your business in the City of Richmond, the Department of Economic Development has an interactive CD-ROM available for your computer. To obtain a free copy of this CD, please email a request, including your name, address and phone number to: econdev@RichmondGov.com
Or call 804.646.5633.
The U.S. Small Business Administration has a Small Business Planner that can help assist you through the stages of your business' lifecycle.
The Virginia Department of Business Assistance's website provides insight and useful information when starting, expanding or relocating your business in Virginia. For more step-by-step processes, checklists, helpful tips and licensing procedures, visit VDBA's Business Launch Pad.
Doing Business With the City of Richmond
If you are interested in registering your business as a vendor with the City of Richmond to pursue Bids, Proposals & Solicitations, Procurement Service's Frequently Asked Questions an help guide you through the process.
For more information, contact:
Procurement Services
900 East Broad Street
Richmond, Virginia 23219
(p)804.646.5716
The City of Richmond's Office of Minority Business Development (OMBD) offers another helpful resource when starting your business. The OMBD is committed to providing maximum opportunities for minority, disadvantaged and emerging businesses with the mission of helping these busineses participate in the full array of contracting opportunities that the City of Richmond offers.
For more information, contact:
Office of Minority Business Development
900 East Broad Street, 9th Floor (City Hall)
Richmond, Virginia 23219
(p)804.646.5947
(f)804.646.0136
Other Useful Business Development Links:
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