Richmond Small Business Report
Uncover Richmond, VA small business growth with data from Mastercard.
Small businesses are growing in Richmond, VA. But which ones? And what are local stakeholders doing to support entrepreneurs of color? We explore aggregate consumer spending data from Mastercard to measure small business growth across the city, while identifying lessons for other cities.
SUMMARY
Key learnings reveal small business trends
Explore the key learnings from Mastercard data that reveal small business growth spikes in Richmond, VA since 2019.
CHAPTER ONE
Richmond's surge in consumer spending trends
Mastercard data shows strong growth in consumer spending and emergence of new businesses fueled by strategic urban planning in Richmond, VA.
CHAPTER TWO
Richmond’s entrepreneurial ecosystem
Local stakeholders are collaborating with small business owners, but more can be done to ensure equitable and sustained growth.
Conclusion
Our findings illustrate a story of small business resilience, dedicated community partners, and a shared recognition that more work must be done to ensure truly equitable development.
RESOURCES