10 Most Lucrative Businesses to Open in West Virginia in 2023

Looking to start a business in West Virginia? You’re not alone. The state has seen a surge in entrepreneurial activity over the past few years, thanks in part to its low cost of living and friendly business climate.

But with so many options out there, it can be tough to decide what type of business to start.

To help you out, we’ve compiled a list of the 10 most lucrative businesses to open in West Virginia in 2023. Our list is based on data from industry experts and market research, as well as our own analysis of emerging trends and opportunities.

Whether you’re looking to launch a tech startup or open up a craft brewery, we’ve got you covered with the latest insights and advice.

Once you’ve decided on the perfect business venture, such as opening a quaint bed and breakfast in a charming mountain town, it’s important to understand the necessary steps, like how to file an LLC in west virginia, to ensure a thriving and legitimate operation.

Are you a freelancer looking for thriving business options in West Virginia in 2023? With top opportunities in various sectors, including west virginia LLC services for freelancers, the state offers a promising landscape for aspiring entrepreneurs.

West Virginia’s economic landscape offers promising opportunities for entrepreneurs, and exploring the best businesses to start in west virginia can lead to lucrative ventures in 2023. From eco-tourism ventures to innovative technology startups, the state’s diverse market holds potential for success.

So let’s dive in and explore what makes these businesses so promising for entrepreneurs looking to make their mark on the Mountain State.

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Craft Breweries

If you’re looking to get into the brewing game, craft breweries offer a unique opportunity to not only make some serious cash in West Virginia, but also contribute to the state’s growing culture of locally-made beer.

The craft beer industry is booming across the nation, and West Virginia is no exception. In fact, according to a recent study by the Brewers Association, West Virginia saw a 41% increase in the number of craft breweries from 2018-2020.

One reason for this growth is collaborative partnerships between local businesses. Craft breweries often partner with nearby restaurants or food trucks to offer customers a full experience. Additionally, many craft breweries prioritize local sourcing for their ingredients, which helps support other small businesses in the area.

As more and more consumers seek out unique and locally-made products, opening a craft brewery in West Virginia has become an increasingly lucrative business venture. However, if beer isn’t your passion, don’t worry – there are plenty of other opportunities for entrepreneurs looking to start successful businesses in the Mountain State.

Technology startups are another promising option for those seeking innovation and profit in West Virginia.

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Technology Startups

Tech startups are taking off in 2023, with entrepreneurs finding success in the ever-evolving world of technology. In West Virginia, this trend is being bolstered by the growing number of startup incubators and coding academies that provide resources for founders to build their companies. These resources include mentorship, access to funding, and training programs that help entrepreneurs develop the skills they need to succeed.

One reason why tech startups are thriving in West Virginia is because of the state’s low cost of living and business-friendly environment. According to a recent report from Forbes, West Virginia ranks fourth in the nation for its low cost of doing business. This makes it an attractive destination for entrepreneurs who want to start a company without breaking the bank. Additionally, the state has made significant investments in infrastructure and workforce development, which further support the growth of tech startups.

Another factor driving the success of tech startups in West Virginia is the strong community that exists among founders and investors. Startup incubators like TechConnectWV provide a platform for entrepreneurs to connect with each other and share ideas. Coding academies like WVU Bootcamp offer intensive training programs that teach students how to code and launch their own businesses. Together, these resources create a supportive ecosystem that helps new companies get off the ground.

As more and more tech startups emerge in West Virginia, there is also a growing demand for outdoor adventure companies that can cater to these young professionals’ interests outside of work. From hiking trails to whitewater rafting trips, these experiences allow entrepreneurs to recharge their batteries while exploring all that this beautiful state has to offer.

Tech startups are flourishing in West Virginia thanks to its supportive ecosystem and business-friendly environment. With resources like startup incubators and coding academies at their disposal, entrepreneurs have everything they need to build successful companies here. As these companies continue to grow, there will be even greater opportunities for outdoor adventure companies to thrive alongside them.

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Outdoor Adventure Companies

You can experience the beauty of West Virginia by taking advantage of the many outdoor adventure companies available to you. With its vast nature reserves and stunning landscapes, West Virginia is a perfect destination for adventure tourism.

From white-water rafting to zip-lining and hiking, there’s no shortage of activities to suit your preferences. The state’s natural resources have been attracting tourists seeking nature retreats for years now, making it an ideal location for starting an outdoor adventure company.

Whether you’re interested in establishing a guided tour business or offering equipment rentals, there’s ample opportunity for growth and success in this sector. According to recent data from the Outdoor Industry Association, outdoor recreation generates $9 billion annually in consumer spending in West Virginia alone.

This presents a significant opportunity for entrepreneurs looking to invest in this industry. By tapping into the growing demand for outdoor experiences among travelers, you can establish a profitable business that caters to this market’s needs.

As we move on to discussing e-commerce businesses next, let’s explore how technology can be leveraged to boost sales and revenue even further.

E-commerce Businesses

When considering potential business opportunities in West Virginia, e-commerce businesses are a promising option due to their low overhead costs and access to online marketplaces.

With the rise of digital transactions and online shopping, starting an e-commerce business can provide a wide reach for customers beyond the state’s borders.

Additionally, West Virginia offers support for small businesses through various programs and resources aimed at fostering entrepreneurship.

Low Overhead Costs

With minimal expenses and a focus on profitability, starting a low-cost business in West Virginia can yield impressive returns. While e-commerce businesses have been popular due to their low overhead costs, there are other opportunities worth exploring within the creative industries and service sector.

Consider these five business ideas with low startup costs:

  • Pet-sitting or dog walking services
  • Cleaning services for residential or commercial properties
  • Freelance writing or graphic design work
  • Personal shopping or styling services
  • Event planning or coordination

By focusing on providing quality service rather than expensive equipment or storefronts, these businesses can be launched with as little as a computer and internet connection. With the demand for these types of services expected to increase as people spend more time at home and prioritize self-care, now’s the perfect time to start a low-cost venture in West Virginia.

As small businesses continue to adapt to changing consumer behavior, access to online marketplaces has become increasingly important. In the next section, we’ll explore how leveraging digital platforms can help your business reach a wider audience and increase its profitability.

Access to Online Marketplaces

Utilizing digital platforms can expand the reach and profitability of a business in West Virginia through access to online marketplaces. Digital marketing has become a cornerstone for businesses looking to increase their visibility and revenue streams. By leveraging targeted online sales strategies, small businesses in West Virginia have the potential to tap into new markets and grow their customer base exponentially.

Online marketplaces such as Amazon, Etsy, and eBay offer small businesses an opportunity to reach millions of potential customers around the world. With the right digital marketing strategy, businesses can stand out from competitors and attract new customers while retaining existing ones. These platforms also provide tools for analyzing customer behavior, which can help fine-tune marketing efforts for better results.

By utilizing these resources effectively, small businesses in West Virginia can compete on a global level and generate substantial profits. With access to these online platforms, small business owners can take advantage of state support programs designed to help them thrive. These programs offer valuable resources such as mentorship opportunities, financial assistance, and networking events that connect entrepreneurs with industry experts and like-minded individuals.

By taking advantage of these state-supported initiatives along with digital marketing strategies, small businesses in West Virginia will be well-positioned for success in 2023.

State Support for Small Businesses

While access to online marketplaces can certainly help small businesses in West Virginia reach a wider audience, it may not be enough for them to thrive. That’s where state support comes in. The government funding and tax benefits available for small businesses in the state can make a significant impact on their success.

In fact, the impact of COVID-19 has led to increased state aid for struggling small businesses in West Virginia. This support can come in various forms, including grants, loans, and technical assistance programs. By taking advantage of these resources, entrepreneurs can better navigate the challenges of starting or growing a business. Here is a table outlining some of the key programs and incentives available:

Program/Incentive Description
Small Business Innovation Research (SBIR) Federal grant program supporting research and development initiatives
Workforce West Virginia Job Training Provides training funds for employers who want to upgrade employee skills
New Markets Tax Credit Program Attracts private investment to low-income communities through tax credits

With this kind of government backing, there’s no doubt that opening a small business in West Virginia could be a lucrative venture. As we move forward into exploring health and wellness centers as another potential opportunity, let’s consider how these types of businesses could also benefit from state support.

Health and Wellness Centers

As we continue our exploration of the most lucrative businesses to open in West Virginia in 2023, we can’t ignore the growing demand for health and wellness services in the state.

With an increasing focus on personal health and wellbeing, there’s a clear opportunity for entrepreneurs to establish health centers that offer a range of services from fitness training to mental health counseling.

Additionally, West Virginia offers several incentives for healthcare businesses, including tax credits and grants, which can help entrepreneurs access skilled professionals and grow their businesses.

Growing Demand for Health Services

The demand for health services in West Virginia is growing rapidly, with an increasing need for accessible and affordable medical care. The pandemic has highlighted the importance of telemedicine as a viable option for patients seeking healthcare from the comfort of their own home. Integrating mental health services into primary care settings has also become increasingly important, as more individuals seek help for anxiety and depression.

With an aging population, there’s a greater need for geriatric care and specialized services to manage chronic conditions. Rural communities often lack access to quality healthcare facilities and providers, creating a need for mobile clinics or telehealth options.

Substance abuse treatment programs have seen increased demand as opioid addiction continues to be a major issue in the state. Alternative therapies such as acupuncture and chiropractic care are becoming more popular among those seeking holistic approaches to healthcare. The expansion of Medicaid coverage has allowed more low-income individuals to access basic healthcare services, creating opportunities for providers who accept Medicaid.

As the demand for health services continues to grow in West Virginia, access to skilled professionals becomes increasingly important.

Access to Skilled Professionals

You need skilled professionals to meet the growing demand for health services in West Virginia. This means investing in training programs for healthcare workers, especially those in high-demand fields like nursing and primary care. Fortunately, there are already local partnerships in place between hospitals and universities to address this need.

These partnerships provide a pipeline of trained professionals who can enter the workforce immediately after graduation. Additionally, these programs offer opportunities for students to gain hands-on experience through internships and clinical rotations, which can lead to job offers upon completion of their degree. By supporting these training programs and local partnerships, businesses can ensure they have access to the skilled professionals needed to succeed in the healthcare industry.

As we look ahead, it’s important for businesses to also consider state incentives for healthcare companies operating in West Virginia. These incentives range from tax credits for hiring new employees to grants for expanding facilities or purchasing new equipment.

By taking advantage of these state incentives while also investing in training programs and local partnerships, businesses can position themselves as leaders within the growing healthcare market in West Virginia.

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State Incentives for Healthcare Businesses

As we’ve seen, access to skilled professionals is a crucial factor in the success of any business. However, there’s another important factor that can significantly boost profitability for healthcare businesses in West Virginia: state incentives.

The government has recognized the value of having robust healthcare services and has created programs specifically designed to encourage investment in this sector. One key advantage for healthcare businesses is tax benefits. The state offers various tax credits and exemptions that can reduce operating costs and increase profits.

For example, businesses that invest in new equipment or technology related to healthcare may qualify for a tax credit of up to 10% of the total cost. There are also property tax exemptions available for certain types of medical facilities, such as hospitals and clinics. These incentives not only make it more financially viable to open a healthcare business in West Virginia but also help ensure high-quality care is accessible to all residents.

In addition to tax benefits, the state also provides training programs to help businesses develop a skilled workforce. There are grant opportunities available for companies looking to train employees in specific areas such as patient care or medical billing and coding. This not only improves the quality of service offered by these businesses but also creates job opportunities for local residents.

Overall, with its favorable business climate and government support through tax benefits and training programs, West Virginia proves itself as an attractive location for entrepreneurs looking to enter the lucrative field of healthcare services.


In conclusion, West Virginia is a state with immense potential for businesses to flourish. With its natural beauty and friendly communities, it’s no wonder that the economy is growing at a steady rate.

The 10 most lucrative businesses to open in West Virginia in 2023 include craft breweries, technology startups, outdoor adventure companies, e-commerce businesses, and health and wellness centers.

Craft breweries are particularly popular due to the increased interest in locally made products. Technology startups can benefit from the state’s low cost of living and tax incentives. Outdoor adventure companies can take advantage of the state’s many scenic locations for activities such as hiking and rafting. E-commerce businesses can benefit from West Virginia’s central location on the east coast while health and wellness centers can cater to an increasingly health-conscious population.

It’s important for entrepreneurs to consider these factors when deciding on a business venture in West Virginia. By tapping into these industries, they stand a chance of achieving significant success in this thriving economy.

Aspiring business owners should carefully research their chosen industry before making any investments to ensure they maximize their chances of success in this vibrant state.

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