Myrtle Beach, January 11, 2026
Myrtle Beach’s local businesses are working towards sustained growth throughout the year, despite seasonal tourism challenges. Entrepreneurs are implementing innovative strategies and forming partnerships to cultivate a diverse economic landscape. Initiatives like the Arts & Innovation District and programs to support emerging technology are part of this effort, aiming to attract visitors year-round and boost the local economy. Community engagement and support systems for small businesses play crucial roles in fostering an environment conducive to economic vitality.
Myrtle Beach, SC
Riding the Tides: Strategies for Myrtle Beach Businesses Beyond Peak Tourism
Myrtle Beach, a dynamic hub of enterprise on the South Carolina coast, consistently demonstrates the resilience and innovative spirit of its local businesses. While known for its vibrant tourism, the entrepreneurial community is actively forging strategies to ensure year-round economic vitality, embracing new sectors and fostering an environment conducive to sustained growth.
Local entrepreneurs and business leaders understand the unique ebb and flow of a coastal economy. Their proactive efforts, coupled with supportive community initiatives and a focus on minimizing regulatory burdens, are creating a diverse and robust economic landscape that extends far beyond the traditional tourist season, offering opportunities for both established enterprises and burgeoning startups.
Navigating Myrtle Beach’s Seasonal Rhythms
Myrtle Beach experiences distinct seasonal swings, characterized by fluctuating peaks and lows in tourist activity. Commercial plumbing services, for instance, often face heavy use during the busiest tourist periods, highlighting the intense demands of the peak season on local infrastructure and services. Data from April 2025 indicates that Myrtle Beach, SC, has 3,277 Airbnb listings, with occupancy rates of 39% and 45%. Other reports from September 2025 project an average annual revenue for Airbnb listings in Myrtle Beach at $50,652, with an average daily rate of $138 and an occupancy rate of 30% in January, while July typically sees the highest bookings. An analysis from January 2024 showed Myrtle Beach with an average occupancy rate of 60%, aligning closely with the national average of 58%. The Average Daily Rate (ADR) for Airbnb in Myrtle Beach generally reaches its peak in July and its lowest point in February. Despite the allure of peak season, a comprehensive approach to business operations and marketing is crucial for year-round prosperity.
Fostering Innovation and Economic Diversification
Myrtle Beach is actively working to diversify its economic base beyond its traditional tourism strengths. A key initiative is the development of the Arts & Innovation District in downtown Myrtle Beach, which aims to create a vibrant, eclectic area featuring cultural amenities such as a performing arts center, new library, museums, city offices, and creative co-work spaces designed for startups and emerging entrepreneurs. This district is part of a broader effort to revitalize downtown areas, based on the Downtown Redevelopment Corporation’s Master Plan.
Further demonstrating a commitment to innovation is the Living Lab program, an innovative public-private partnership launched by the City of Myrtle Beach. This program supports the development of emerging technology by providing local businesses, small businesses, and large corporations with a “Living Lab” environment to test their technologies, with the city also testing appropriate technologies within municipal operations. Over 25 companies from across the United States, Canada, and the United Kingdom explored the program since its inception, with tech companies like Cocoflo, Rep’d, Polco, and dependbuild becoming the first participants to reach the project launch phase.
The region is becoming a notable hub for new startups, particularly in sectors such as AI, agriculture technology, and hospitality technology. Examples include AmplifiedAg, which specializes in agriculture technology with integrated hardware-software ecosystems for smarter farming, and Scout AI, which offers customizable AI solutions for various industries. Other innovative companies include FieldBin, providing field management software, and Surfworks, a surf park resort. Myrtle Beach offers compelling advantages for startups, including cost-effective operations, a growing tech ecosystem, and natural synergy with the tourism industry, which serves as an ideal testing ground for new ventures. Statewide, South Carolina startups collectively attracted over $700 million in venture capital in 2024, with Myrtle Beach contributing significantly to this growth.
Strategic Partnerships and Private Investment Drive Growth
The economic growth of Myrtle Beach is significantly propelled by strategic partnerships and private investment. Organizations like the Myrtle Beach Regional Economic Development Corporation (MBREDC) and the North Eastern Strategic Alliance (NESA) play crucial roles in attracting new businesses and helping existing ones thrive and expand. The MBREDC, for instance, collaborates with local businesses, industry leaders, and government officials to accelerate regional growth and create jobs. Its five-year strategic plan, approved in 2022, aims to recruit and retain high-quality industries, generate at least 175 full-time jobs annually, and secure at least $5 million in private capital investment.
The federal Opportunity Zones program, established nationwide as part of the Tax Cuts and Jobs Act of 2017, is actively promoted in Myrtle Beach to encourage long-term private investments in designated low-income areas, thereby stimulating job creation and economic growth. South Carolina has designated 25 percent of its 538 qualifying census tracts as Opportunity Zones. Private investment is further exemplified by an $18.75 million loan that boosted Myrtle Beach’s hospitality sector in July 2025, demonstrating how private capital efficiently drives community prosperity and infrastructure development, offering flexibility and speed compared to government subsidies. Such ventures, including the debut of Margaritaville Vacation Residences in January 2026, exemplify the region’s appeal for substantial new undertakings, expected to stimulate business innovation, enhance job creation, and diversify tourism offerings.
An environment with limited regulatory hurdles and strong protections for property rights is particularly attractive to investors and entrepreneurs, fostering an ecosystem where businesses can innovate and grow without unnecessary impediments. South Carolina legislators are actively working on a “Small Business Regulatory Freedom Act” to reduce regulatory burdens. Myrtle Beach is recognized as the second fastest-growing metropolitan area in the United States. Over 90,600 people relocated to Myrtle Beach, South Carolina in 2023 alone, increasing demand for commercial spaces such as retail, multifamily, office, and industrial properties.
Cultivating Year-Round Appeal and Community Engagement
To mitigate the impact of seasonal tourism, significant efforts are underway to cultivate Myrtle Beach’s year-round appeal. The Myrtle Beach Area Chamber of Commerce and CVB actively promote the region as a top year-round destination, targeting visitors who are inclined to spend more, book earlier, extend their stays, and return during off-peak times. These marketing strategies also focus on attracting budget-minded travelers through promotions highlighting affordability and last-minute travel options to nearby markets.
The off-season offers numerous benefits to visitors, including milder winter weather, fewer crowds, and potential for substantial cost savings on accommodations and activities. The area provides a variety of off-season activities and events, ranging from fall festivals and holiday celebrations to indoor attractions like Ripley’s Aquarium. These initiatives aim to maintain a steady flow of visitors, supporting local businesses throughout the year.
Community engagement is a cornerstone of this strategy. For Myrtle Beach small business owners, active participation in community events, sponsoring local sports teams or fundraisers, and forming partnerships with other non-competing local businesses are vital for building goodwill and expanding customer reach. The Partnership Grand Strand initiative, a collaboration between businesses, nonprofits, and government entities, aims to diversify the local economy by focusing on infrastructure, attracting non-tourism industries, workforce development, and revitalizing downtown areas.
Empowering Small Business Resilience
The entrepreneurial spirit in Myrtle Beach thrives on resilience, and a robust support system is in place for small businesses. The Myrtle Beach Area Chamber of Commerce, representing over 2,200 investors with 80% of businesses having 25 or fewer employees, offers programs and services aimed at professional development and business growth. These resources include general business information, local development support, training, and exclusive member savings programs. Additional guidance is available through organizations like the Small Business Development Center at Coastal Carolina University and Grand Strand SCORE.
Protecting these vital investments requires diligent financial oversight. A recent lawsuit involving a downtown Myrtle Beach arcade, alleging a $750,000 misappropriation by a manager, underscores the critical importance of robust internal controls, regular audits, and transparency in financial dealings for all small business owners. The city’s Economic Development Office actively educates the business community about available incentives and effective business strategies, further contributing to a supportive environment for South Carolina entrepreneurs. Ultimately, fostering an environment with limited regulatory hurdles and strong protections for property rights remains crucial for attracting investors and entrepreneurs, promoting innovation, and ensuring continued economic growth for the community.
Myrtle Beach is more than just a seasonal destination; it is a community of resilient South Carolina entrepreneurs and innovative businesses charting a course for sustained economic growth. Through strategic diversification, robust partnerships, and a focus on supporting the Myrtle Beach small business community, the region is transforming seasonal challenges into year-round opportunities. We encourage all residents and visitors to explore and support the diverse array of local businesses that contribute to the vibrant and growing economy of Myrtle Beach SC business.
Frequently Asked Questions
What are the primary economic challenges for Myrtle Beach businesses?
The primary economic challenges for Myrtle Beach businesses include navigating significant seasonal swings with fluctuating peaks and lows in tourist activity.
How is Myrtle Beach diversifying its economy?
Myrtle Beach is diversifying its economy through initiatives like the Arts & Innovation District, which includes performing arts, a new library, and co-work spaces for startups. The city also has a Living Lab program, a public-private partnership supporting emerging technology and encouraging entrepreneurs. New startups are emerging in sectors such as AI, agriculture technology, and hospitality technology.
What role does private investment play in Myrtle Beach’s growth?
Private investment plays a crucial role in Myrtle Beach’s growth, driving community prosperity and contributing to infrastructure development, as seen with an $18.75 million loan boosting the hospitality sector. The federal Opportunity Zones program also encourages long-term private investments in low-income areas to stimulate job creation. Ventures backed by private capital can efficiently bring large-scale projects to fruition, contributing to the local tax base and creating employment opportunities.
What strategies are employed to attract visitors during the off-season in Myrtle Beach?
Strategies to attract off-season visitors include promoting Myrtle Beach as a year-round destination, targeting travelers who book early, stay longer, and revisit during off-peak times. Marketing efforts also highlight the milder winter weather, fewer crowds, and potential for significant cost savings on accommodations and activities during these periods.
What resources are available for small businesses in Myrtle Beach?
The Myrtle Beach Area Chamber of Commerce provides programs, services, training, and exclusive member savings for small businesses. Additional support and guidance are offered by the Small Business Development Center at Coastal Carolina University and Grand Strand SCORE. The city’s Economic Development Office also educates businesses on available incentives and strategies.
Key Features of Myrtle Beach Business Environment
| Feature | Description | Scope |
|---|---|---|
| Seasonal Swings | Characterized by fluctuating peaks and lows in tourism activity, impacting business demands and revenue cycles. Commercial plumbing services, for instance, face heavy use during tourist peaks. | Local |
| Economic Diversification Initiatives | Efforts to expand beyond tourism, including the development of an Arts & Innovation District and the Living Lab program to support emerging technology and startups. | Local |
| Emerging Startup Sectors | Growth in areas like AI, agriculture technology, hospitality technology, field management software, and surf park resorts, with startups like AmplifiedAg, Scout AI, FieldBin, and Surfworks. | Local |
| Venture Capital for Startups | South Carolina startups collectively attracted over $700 million in venture capital in 2024, with Myrtle Beach significantly contributing to this growth. | State-level |
| Private Investment & Opportunity Zones | Significant private investments, such as an $18.75 million loan for the hospitality sector, drive growth. The federal Opportunity Zones program is used to attract private capital for job creation and economic growth. | Local (Opportunity Zones are Nationwide, but applied locally) |
| Regulatory Environment Focus | Emphasis on limited regulatory hurdles and strong protections for property rights to attract investors and entrepreneurs. South Carolina legislators are working on a “Small Business Regulatory Freedom Act” to reduce regulatory burdens. | State-level |
| Fastest-Growing Metro Area | Myrtle Beach is recognized as the second fastest-growing metropolitan area in the United States. Over 90,600 people relocated to Myrtle Beach, South Carolina in 2023. | Nationwide (for ranking), Local (for relocation numbers) |
| Year-Round Tourism Promotion | Strategies to attract visitors during off-peak times, highlighting milder weather, fewer crowds, and cost savings, along with diverse off-season events. | Local |
| Small Business Support Systems | Resources from the Myrtle Beach Area Chamber of Commerce, Small Business Development Center, and Grand Strand SCORE, offering programs, training, and guidance. | Local |
| Importance of Financial Oversight | Highlighted by a lawsuit concerning alleged misappropriation of funds at a local business, underscoring the critical need for robust internal controls and transparency. | Local |
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Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
