The Top Five Growing Business Industries in Asheville, North Carolina
There are a variety of industries that are changing the way that entrepreneurs are selling, buying, and growing their businesses.
Here at Viking Mergers & Acquisitions, we strive to provide the best professional and confidential services to our clients located throughout the Southeast United States. Our markets focus on the cities that embrace entrepreneurship as well as the surrounding areas where business is continuing to grow. Even though Viking M&A of Western North Carolina is based in the thriving city of Asheville, we want business owners to know that we are here to represent the surrounding counties that make up the beautiful Western half of the state. Asheville, NC is the perfect place to start, grow, or buy a business, and there are a variety of industries that are changing the way that entrepreneurs are getting the job done.
One of the most significant drivers of the economy in Asheville and Western North Carolina as a whole is the manufacturing industry. Advanced manufacturing companies have employed more individuals than ever before in the Asheville Metropolitan area. The Asheville Area Chamber of Commerce has given significant praise to the industry because of increased productivity, the results of foreign trade, and progressive innovation tactics. According to bureau data, North Carolina recorded 476,800 manufacturing employees in May of this year, the highest total since January 2009. North Carolina was also ranked the #1 State for Manufacturing in 2016 by Chief Executive Group, LLC. Education and training for the manufacturing workforce are essential in growing the industry and keeping it alive in the area. As the next generation makes way into the working world, it is important for the manufacturing industry in Asheville to retain talent. In good times or in times of recession, the manufacturing industry provides stability among workers and consumers alike.
Top Leaders in the in Asheville Manufacturing Industry: GE Aviation, Advanced Manufacturing Solutions Inc., Eaton Corporation
Science and Technology
The diverse city of Asheville is an ideal choice for those who are looking to grow a business in the science and technology field. Data management, cloud computing, sustainability, and climate science are all prominent science and technology sectors that are making way in Western NC. Some of the most recognized and advanced weather-related databases that provide safety for communities are located in Asheville. Most Asheville residents are diligently supporting the preservation of the area, with environmental science and sustainable projects being the groundwork of the community. Asheville is also home to innovative technology companies that provide hosting, internet services, code database providers, high tech video games, and more.
Top Leaders in the Asheville Science & Technology Industries: AvL Technologies, The Elumenati, American Recycling, FLS Energy
In terms of employment, Healthcare is the largest industry in the Asheville MSA. Advances in patient care and cutting-edge technology help drive a variety of healthcare organizations that are heightening the region’s growing economy. According to the Economic Development Coalition for Asheville-Buncombe County, Mission Health, an independent hospital, was named by Thomas Reuters as one of the top 15 best health systems in the country. Mission Health is also Asheville’s largest employer, providing over 8,000 jobs. The quality of healthcare in the Asheville MSA is consistently renowned for their advancements in neuroscience, cancer research, and pediatrics. Not only does Asheville have an advanced healthcare system, but they also have a reputation for low Medicare costs. Alternative healthcare facilities that provide complementary healthcare services in addition to conventional care.
Top Leaders in the Asheville Healthcare Industry: Park Ridge Health, Asheville Specialty Hospital, CarePartners, Mission Health, Mercy Urgent Care, Pardee Hospital, Charles George Veterans Affairs Medical Center
Asheville is known for their prestigious school systems that are recognized nationally, including public, private, and higher education. Next to the health services industry, private education makes up the largest percentage of employment in the Asheville MSA. There are public and private institutions of all kinds that focus on specific areas targeted to students. Alternative education is popular in the Asheville area, providing nurturing engagement for children. There are options for classical education, hands-on learning, collective fulfillment, and more.
Top Leaders in the Asheville Education Industry: Asheville City Schools, ArtSpace Charter School, Francine Delany New School for Children, The Learning Community School, Asheville School, Christ School, UNC Asheville
If there’s one thing that makes Asheville unique compared to other Western NC cities, it is the power of small business. Small businesses are the foundation of the Buncombe County economy. Now that tourism is progressing rapidly because of attractions such as the Biltmore Estate, Grove Park Inn, and the WNC Nature Center, more entrepreneurs are starting their own business opportunities for residents and visiting consumers. Retail boutiques, shops, restaurants, breweries and other kinds of small businesses are the infrastructure of Asheville’s culture and provide customers with a rare and pleasant experience. Shopping local is praised in the community, and there is a week dedicated to small businesses each year. Asheville has the resources and tools that entrepreneurs need to build their businesses from the ground up.
If you’re looking to sell or buy a business in the Asheville area, now is a perfect time. Our intermediaries can help you plan your exit strategy or assist you in finding an ideal business for you. Contact Viking Mergers & Acquisitions of Western North Carolina for a free valuation of your business.