With economic recovery and development on the horizon, Washington, DC offers limitless opportunities. Leading the way are defense and tourism. Additionally, there are organizations which can guide you, such as the Washington DC Chamber of Commerce, improving the overall business climate. By hiring a Washington, DC business plan writer you can secure capital and develop a comprehensive game plan. Now is the ideal time to open a DC business, so let’s get started!

Military and Defense

Tens of thousands of jobs, and billions of dollars flow into Washington DC’s military and defense sector each year. Washington has six active-duty military installations, one major homeland security installation, two Department of Energy facilities, and two world-class universities performing defense-related research and development. As such, several US military and defense contractors have established their head offices in Washington, DC, serving the US Department of Defense. There are numerous opportunities in the defense sector here, namely surrounding energy, biofuels, ICT, cybersecurity, life sciences and aerospace/UAS technology.

Higher Education

The Nation’s Capital is home to some of the best private universities in the world, including: The American University, Georgetown University, Johns Hopkins University and the Corcoran College of Art and Design. Meanwhile, the University of the District of Columbia is a major public university in the region. These educational institutes attract local and international students, and the higher education sector supports business sectors such as property development, IT services, internet and telecommunications, and publishing.

Technology

Washington D.C. has more high-growth companies than nearly any other city in the US. This makes the Nation’s Capital the ideal spot for tech startup companies to establish themselves. Few boast the kind of stability demonstrated by the Northern Virginia community, allowing D.C. to remain a top tech performer. Ten D.C. tech companies alone raised a combined $2.4 billion in 2021. Equipped with an educated workforce and bountiful resources, D.C. has cultivated a tech industry that is attracting national attention.

Tourism

Tourism in Washington D.C. can be classified into 8 core sectors: accommodation, adventure tourism and recreation, attractions, events and conferences, food and beverage, tourism services, transportation, and travel trade. This sector is poised to recover, and now is a great time for companies to enter the market. Companies can open branches in return of local and international tourists, and a bespoke business plan will help such entrepreneurs in maximizing opportunities.