By Tim Ryan

Hampton Roads, Virginia, is buzzing with entrepreneurial energy, and Innovate Hampton Roads is thrilled to spotlight a game-changing initiative that’s set to transform the region’s retail landscape. On July 7, 2025, Retail Alliance, in partnership with ABNB Federal Credit Union, NuMarket, and the Hampton Roads Small Business Development Center (SBDC), unveiled the Hampton Roads Retail Catalyst—a bold pilot program designed to empower small retail businesses to start, scale, and succeed in vibrant community hubs like Downtown Hampton, Portsmouth’s High Street, Newport News’ Hilton Village, and Norfolk’s Granby Street.

This isn’t just another business program—it’s a lifeline for entrepreneurs ready to turn their retail visions into reality. “Small businesses are the heartbeat of our communities,” says Jennifer Crittenden, President/CEO of Retail Alliance. “The Retail Catalyst equips them with the tools, funding, and support to overcome hurdles and thrive.” With retail as the region’s second-highest job creator, this initiative is poised to boost local economies and celebrate the unique identities of our neighborhoods.

Here’s how the Retail Catalyst works its magic:

  • Education: Aspiring retailers dive into Retail Alliance’s Certificate in Retail Operations (CROps), a 14-week program culminating in a robust business plan. Seasoned businesses get tailored growth strategies from expert panels.
  • Community Power: A 30-day NuMarket crowdfunding campaign validates concepts while rallying community support.
  • Capital Access: ABNB Federal Credit Union’s $500,000 loan pool offers up to $35,000 per eligible business, breaking down barriers to traditional funding. “This is a game-changer for entrepreneurs,” says ABNB’s President/CEO Charles Mallon, Jr.
  • Ongoing Mentorship: Retail Alliance and SBDC provide post-launch consulting to ensure long-term success.

Open to startups, home-based businesses transitioning to storefronts, and expanding retailers, the program targets serious applicants with strong concepts and creditworthiness. A leakage analysis ensures selected businesses fill retail gaps in pilot communities, driving economic vitality. Applications are open from July 7 to August 10, 2025, with a target for business openings by June 2026.

For Innovate Hampton Roads’ audience, this is your chance to join a thriving ecosystem where innovation meets opportunity. Whether you’re an entrepreneur or a supporter of local commerce, the Retail Catalyst is shaping a future where Hampton Roads’ retail scene shines brighter than ever. Visit retailalliance.com to apply or learn more, and let’s build the next chapter of our region’s entrepreneurial story together!

For more information about the Hampton Roads Retail Catalyst or to apply, visit retailalliance.com. Download the press release here.

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