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Keeping Small Businesses Thriving in West Virginia’s Rural Communities

Small businesses are the backbone of West Virginia’s economy, especially in our rural communities. They provide jobs, foster innovation, and create a sense of identity for towns across the state, from Pineville to Alderson, and Ronceverte to Lansing.

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Small businesses are the backbone of West Virginia’s economy, especially in our rural communities. They provide jobs, foster innovation, and create a sense of identity for towns across the state, from Pineville to Alderson, and Ronceverte to Lansing. Small businesses make up 98.9% of all businesses in West Virginia, employing nearly 50 percent of the state’s private workforce. Yet, in today’s market, keeping the doors open requires a unique set of skills, resources, and determination.

The definitive question is: How do these small businesses, scattered across rural landscapes, make ends meet?

Understanding the challenges

Running a small business in rural areas comes with many challenges. Limited foot traffic, smaller customer bases, and difficulty accessing capital make it harder to keep the lights on. Nationally, only about half of small businesses survive beyond five years. Sadly, several businesses in our region have closed recently, a reminder of the tightrope many walk between success and closure.

Photo of Judy Moore courtesy of NRGRDA. Photo credit: Sheena Pendley

However, there are many stories of resilience. Local businesses like Paws and Pals, Pinheads, Trails Edge Cycles, and Water Stone Outdoors have found winning ways to thrive by adapting to their customers’ needs and embracing their community’s spirit.

The secrets to success

Several key principles enable these businesses to persevere:

  • Community engagement and personal relationships: In small towns, business is personal. Owners like those at Paws and Pals, offering cage-free pet boarding, and Pinheads, a local bowling alley that has become a community hub, have built long-lasting relationships with their customers. By embedding themselves into their communities, they foster loyalty, ensuring customers return even during tough times.
  • Adaptability: Flexibility is crucial for rural businesses. Trails Edge Cycles recognized a need and introduced financing options, making their products more accessible. Water Stone Outdoors in Fayetteville capitalized on the region’s growing tourism by catering to outdoor enthusiasts with gear and advice. This adaptability allows these businesses to stay competitive.
  • Diversity of offerings: Many rural businesses thrive by diversifying their services. Paws and Pals offers pet supplies, grooming, and boarding, while Water Stone Outdoors provides gear, rentals, and local expertise. By expanding offerings, these businesses create multiple revenue streams, ensuring stability.
  • Support networks and mentorship: One underappreciated element of small business success is access to mentorship and resources. At West Virginia Hive, we offer customized support, including business advising, training, networking opportunities and access to capital. These resources can be the difference between success and failure for new businesses.

Early engagement with students

Early engagement with students is essential for fostering an innovative mindset and preparing future entrepreneurs. At WV Hive, we are committed to serving collegiate clients, helping capture local talent to contribute to the sustainability and revitalization of our rural economy. Encouraging students to engage with entrepreneurship early on helps build the leaders and innovators of tomorrow.

Succession planning

Succession planning is critical for small businesses in rural areas to ensure long-term survival. Without a plan, businesses risk closure when owners retire, leading to job losses and reduced local services. Ensuring smooth transitions between generations of business owners is vital to maintaining economic stability in rural communities.

Advice for those just starting out

For aspiring entrepreneurs in rural West Virginia, the path isn’t always easy, but with the right mindset and resources, success is achievable. Here is some proven advice:

  • Do your homework: Understand your market before launching. What does your community need that it doesn’t already have? Who are your potential customers, and how can you best serve them?
  • Start small, think big: Focus on doing one thing really well and let your reputation grow organically. Over time, you can diversify, but establishing a strong foundation is essential.
  • Be ready to pivot: The market changes, and successful businesses adapt. If something isn’t working, adjust. Listen to your customers and try new approaches.
  • Lean on your support system: Don’t try to do everything alone. Organizations like WV Hive can help you navigate the complexities of starting and running a business.

Stories of resilience and longevity

One of the most inspiring aspects of rural entrepreneurship is witnessing businesses that have weathered economic fluctuations and still come out strong. Paws and Pals has stayed afloat by offering more than just products. Their grooming services and boarding keep customers loyal.

Similarly, Pinheads has transformed from a simple bowling alley into a local hotspot for entertainment and gatherings, building strong community ties. Trails Edge Cycles, serving the outdoor recreation community, thrives by continuously adapting to customer needs, while Water Stone Outdoors remains a go-to resource for locals and tourists alike.

Moving forward: what we need to keep small businesses thriving

While individual determination is crucial, small businesses need broader support to thrive. Access to capital, infrastructure, workforce development and community support are all essential for success.

  • Access to capital: Many small businesses struggle to secure funding. More accessible financing options, low-interest loans, and grants are critical, especially in rural areas.
  • Infrastructure: Reliable internet, roads, and utilities are vital for rural businesses to operate efficiently. Expanding broadband access is crucial as more businesses embrace e-commerce.
  • Workforce development: A skilled workforce is essential for small businesses to grow and innovate. However, many rural entrepreneurs face challenges in finding and retaining qualified employees. Expanding training programs and workforce development initiatives can ensure businesses have access to the talent needed for success in key industries such as hospitality, outdoor recreation, and food services.
  • Community support: Communities must rally behind their small businesses. Shopping locally and supporting entrepreneurs helps build a thriving local economy.

At WV Hive, we are committed to supporting our local entrepreneurs by providing resources, mentorship, and guidance.

Running a small business in rural West Virginia isn’t easy, but it’s worth it. The businesses that succeed do so by embracing their communities, adapting to change, and finding ways to stand out. With the right resources and support, there’s no limit to what these entrepreneurs can achieve.

At WV Hive, we’ll continue working with entrepreneurs and providing the tools they need to thrive.

Judy Moore is executive director of the West Virginia Hive and deputy director of the NRGRDA. She is a Nicholas County resident. She was recently named a West Virginia Wonder Woman by the West Virginia Living magazine as well as a Sharp Shooter by the West Virginia Executive magazine.

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Forward Southern WV, NRGRDA Contribute $20,000 to Propel ‘Project GRACE’ To Help Just for Kids Child Advocacy Center Respond to Child Exploitation

Leading local non-profit organizations — Forward Southern West Virginia and New River Gorge Regional Development Authority (NRGRDA) — are donating $10,000 each to help propel an education and training campaign, Project GRACE (Gathered Response to Address Child Exploitation), being coordinated by Just for Kids Child Advocacy Center serving Fayette and Raleigh counties.

November 19, 2024
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