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Business Appraisals in Virginia

The state of Virginia is named for the virgin Queen, Elizabeth I. Sometimes referred to as “the mother of states”, the original colony of Virginia is now part of six different states. “Old Dominion” is where the English settlement of America began, as the pilgrims first settled Jamestown in 1607. Officially a state in 1788, Virginia is home to rich American history and culture. Over half of the battles fought in the civil war occurred in Virginia and both wars fought on American soil ended in the state. The state is the birthplace of eight US presidents, which is more than any other state. But Virginia is more than a president-producing, history hub. According to the Virginia Department of Forestry, 62% of the state is forested. A large chunk of the famous Appalachian Trail runs through the Blue Ridge Mountains, which is perfect for hiking. Virginian geography has something for everyone, from the forests to the beach to beautiful rural wineries and apple orchards.

Virginia’s economy is full of diverse industries. Economic activities include shipbuilding, tobacco-growing, seafood processing, and information technology companies. According to the bureau of economic analysis, the professional, scientific, and technical services industry makes up 13.23% of the state’s GDP compared to the national average of 7.68%. Virginia has the largest data center market in the United States. According to the Virginia Economic Development Partnership, “it also has the highest concentration of tech workers in the nation.” The US Best States ranking ranks Virginia as the seventh best state overall, with its strong points being its health care, education, economy, crime and corrections, and opportunity. Virginia boasts a rare combination of a strong economy and opportunity. Not to mention, Virginia’s economy is full of hard-working individuals reaping the benefits of it.

Small businesses are the majority of Virginia businesses. According to the U.S. Small Business Administration, there are 766,826 small businesses in Virginia that make up 99.5% of Virginia businesses. Nearly half of all employees in Virginia are employed by small businesses. The concentration of small businesses in Virginia drives demand for business services, such as business valuation. At Peak Business Valuation, business appraiser Virginia, we frequently team up with individuals involved in business transactions and individuals looking to grow their business. Our goal is to educate our clients and help them feel confident reaching their business goals. We also understand that relationships are key to success in the small business world. If we don’t know the answer to your question, then we know someone who does! Reach out to Peak Business Valuation, business appraiser Virginia, with any questions you may have!

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