by Beth Hester
“Preserving small retail is not just an economic imperative—it’s a cultural one. These businesses often breath new life into historic buildings and serve as incubators for innovation. They are the heartbeat of our communities, and their success is essential to the vitality of Virginia’s Retail landscape.”
– Jenny Crittenden, president and CEO, Retail Alliance
When we attended the first Virginia Retail Matters event in 2023, we were impressed not only with the scale and ambition of the event itself, but with the level of research that went into the production of the associated “State of Retail” report which was commissioned by Retail Alliance in partnership with Main Street America. Summarized at the Retail Matters events, these updated reports have been produced every year since, delivering “exclusive and actionable insights.”
The themes of the 2025 report were presented at the sold-out September event by Matthew Wagner, Ph.D., Chief Innovation Officer at Main Street America, and this year’s panel discussions focused on retail crime and retail circularity— topics that visibly struck a chord with attendees who we noted were busily taking notes throughout.
Retail Alliance President and CEO, Jenny Crittenden
Current numbers show that the retail sector is the second-largest job creator in our region, and these annual events are more than just educational forums for business owners, they’re opportunities to network, to share stories, and they’re a place where subject matter experts help business owners better understand the ever-evolving landscape in which they operate.
But casting our minds back to 2023, when the Virginia Retail Matters events first launched, we couldn’t have anticipated how the Retail Alliance organization, led by President and CEO Jenny Crittenden, would evolve into the advocacy powerhouse it is today. With multiple networking events, educational opportunities, main street revitalization efforts, certificate programs, and legislative updates, Retail Alliance is building a community for small business owners of every stripe. A recent stroll through their 2024 Annual report—which can be viewed on their website—provided a peek at their strategic planning goals:
• Empower retailers to achieve business success.
• Enhance membership program to support retailers in all business life stages.
• Provide quality retail education that enhances the retail community.
• Develop relationships to collaboratively strengthen the local business community that impacts retailers.
• Design a supportive infrastructure to help retailers thrive.
Virginia Beach Mayor Bobby Dyer
Via a recently created initiative, Retail Alliance manages to integrate each of these aims into one bold pilot program designed to support retail entrepreneurs. It’s called the Hampton Roads Retail Catalyst and here’s what you need to know:
Retail Alliance, in partnership with ABNB Federal Credit Union, NuMarket, the Hampton Roads Small Business Development Center (SBDC), and other key collaborators, launched the Hampton Roads Retail Catalyst, a groundbreaking pilot program aimed at supporting new and existing small business retailers. The program provides comprehensive wraparound services, including business education, community crowdfunding proof of concept, access to capital, and ongoing technical assistance and will be piloted in select communities in Downtown Hampton, Hilton Village, Norfolk, and Portsmouth.
Ultimately, the goal is to strengthen the local economy by supporting retail entrepreneurs who contribute to the unique identity of our neighborhoods. By helping businesses grow in targeted districts, the program’s aims of creating jobs, fostering entrepreneurship, and revitalizing neighborhood districts could be achieved. Retail Alliance views this pilot as a model that can be scaled and replicated to support retail ecosystems across the region and beyond.
Hilton Village, a Retail Catalyst pilot community Photo courtesy of Riverdale 24 Productions
Retailers often face challenges when seeking access to capital. Crittenden explains: “Small businesses are the lifeblood of our communities, yet they often face significant hurdles when trying to access capital due to limited credit history, financial resources, or collateral. With the launch of Retail Catalyst, our goal is to provide new and growing businesses with the resources and support they need to succeed. Through education, access to funding, and post-launch technical assistance, we’re setting retailers up for long-term success and helping to strengthen our local economy.”
Charles Mallon, Jr., President and CEO of ABNB Federal Credit Union, shared his enthusiasm for the initiative: “This program is a game-changer for small business owners who may not have access to traditional funding options in the past. Our $500,000 loan pool is specifically designed to meet the needs of these entrepreneurs, creating a pathway for growth that is strategic, sustainable, and impactful.”
Impactful indeed.
To learn more, visit retailalliance.com
