BUSINESS RESOURCES

DO BUSINESS HERE

Locating your business in Downtown Ashland has many advantages.

• Downtown Ashland enjoys very low vacancy rates and high customer satisfaction. Daily, an average of 14,000 vehicles pass through Downtown Ashland on Route 54. It is a prospering business district with high visibility.

• Downtown Ashland Association actively promotes revitalization, improves public spaces, provides business resources, and markets Downtown Ashland to potential customers. Our services benefit all businesses within the district.

• Town of Ashland provides financial incentives to new and expanding businesses, including revitalization and infrastructure grants.

STARTING A BUSINESS

The initial steps of establishing a business entity are similar across industries, but you may want to discuss the options with a professional. See our downtown business directory for a listing of local legal, accounting and insurance professionals.

Step 1: Legal Structure

• Choose a legal structure (e.g. sole proprietorship, corporation, cooperative, etc.) to establish the managerial, financial and legal foundation for your business.

  • US Small Business Administration provides a helpful guide.

• Virginia State Corporation Commission requires online registration of your business name

Step 2: Register your business for tax purposes

• Establish a tax identifier for your business.

  • All businesses need to register online with Virginia Department of Taxation.

  • You may also need to register with the federal government. The legal structure of your business will determine whether or not to register with the federal Internal Revenue Service. See this link for more information.

Step 3: Identify the need for a business license

• A business license is required to operate in the Town of Ashland. Call (804) 798-8650 for assistance.

• A New Business Registration Form is required by Hanover County. Additional County requirements may apply, see the user guide here. Call 804-365-3377 for assistance.

2024 ENTREPRENEURSHIP INITIATIVES

In collaboration with our partners, Downtown Ashland Association is spearheading programs to foster economic development and small business growth in 2024.

Through Entrepreneurship Initiatives, new and established companies alike are offered programs to propel entrepreneurs to their next milestone.

• Business Innovation Workshops teach essential skills such as marketing, funding, investment, and workshop recruitment.

• The Center Street Pitch Competition invites businesses to compete for a chance to win prizes worth over S20,000.

• The “Doing Business in Hanover Handbook” encourages entrepreneurs to share their experiences and help inform the future of companies in our region.

STARTUP RESOURCES & SERVICES

Downtown Ashland Association can help to facilitate your business startup or relocation. We coordinate government services. We provide market research and connect you to entrepreneurial resources. We can help plan and promote marketing initiatives. Email us to get started.

The Town of Ashland offers services to prospective business owners, including building permit guidance (jointly with Hanover County), business licensing, sign permits, networking with community programs and other businesses, and site selection assistance. The Town also offers grants and/or financing for specific purposes through the Economic Development Authority. Call 804-798-1073 for assistance.

Hanover County offers services to prospective business owners, including building permit guidance (jointly with Town of Ashland), business counseling, economic data, networking, and site selection assistance. The County also offers financial incentives for target industries. Call 804-365-6464 for assistance.

Virginia Economic Development Partnership provides resources for starting a business in Virginia, including site selection, community profiles, key industries, production assets, and global connections. These services are focused toward large-scale businesses.

ENTREPRENEURSHIP

Downtown Ashland Association can help to facilitate your business growth or expansion. We connect you to free resources available for small business owners. We provide market research and help craft your marketing strategy. We help you partner with other local businesses for mutual benefit. Email us to connect.

Hanover Chamber is a business association that serves as a liaison to government and provides networking opportunities throughout Hanover County. The organization offers seminars and workshops for business owners monthly.

Hanover County Economic Development operates the Business First Hanover program to support existing businesses. Staff will visit your location and provide business counseling to sustain or expand operations. Call 804-365-6459 for assistance.

Dominion Energy Innovation Center is a clean energy incubator and independent nonprofit public-private partnership founded by Dominion Energy, the Town of Ashland, Hanover County, and Activation Capital. DEIC offers coworking office space in Downtown Ashland and provides mentoring for startup businesses.

Market Ashland Partnership is a volunteer business networking organization based in Ashland. The organization offers cooperative advertising discounts and promotions. Monthly meetings, held on Second Thursdays of each month at 8:15am at The Depot, are open to prospective members.

SCORE Richmond provides education and mentorship for area businesses free of charge. The website offers many resources on-demand, and expert in-person mentoring is available by subject area.

US Small Business Administration sponsors regional Small Business Development Centers in Fredericksburg and Charlottesville. The Centers offer in-person and online business resources and counseling.

• The agency’s website presents a step-by-step guide to create a personalized business plan and financial statements.

• Business training courses are available through the Virginia website and the national website.

FINANCE

Town of Ashland Economic Development Authority offers low-interest loans and grants to encourage business growth. Call 804-798-1073 for assistance.

• Facade Grant Program (.pdf file)

• Infrastructure Forgivable Loan (.pdf file)

• Demolition Forgivable Loan (.pdf file)

• Revitalization Grant (.pdf file)

• Interstate 95 Corridor Restaurant Incentive Program (.pdf file)

• Interstate 95 Corridor Hotel Incentive Program (.pdf file)

Hanover County  offers financial incentives for target industries. Call 804-365-6464 for assistance.

US Small Business Administration offers a variety of loan products. Small Business Development Centers in Fredericksburg and Charlottesville connect clients with these services.

Virginia Small Business Financing Authority offers a variety of loan products. Contact the state office for more information.

US Department of Agriculture offers financing for rural businesses, including those in the Town of Ashland. Call 804-287-1557 for more information.

Virginia Community Capital is a community development financial institution focused on economic development. They offer small business startup and expansion loans.