Business owners who need to find a place to launch their venture should remember the benefits Ohio offers. While planning for proper funding can include researching loan companies in Ohio, there are also existing circumstances that favor the savvy entrepreneur, both in and out of state. Below are some factors that make Ohio especially interesting for those who want to relocate here.
- Financial firm availability: Columbus alone offers newcomers access to multiple financial firms as well as other major well-known companies.
- Historic numbers for incoming businesses: According to a press release from State Senator Gayle Manning, 2015 saw an increase in more than 3,970 new businesses that registered with the local Secretary of State’s office. The new arrivals also reportedly led to an overarching availability of 385,000 jobs in the private sector.
- Opportunities for women and minority business owners: CNN Money recently profiled the efforts put into financing startups owned by women and minorities. One fund will contribute $500,000 to “about 20” companies that move to the state over the next few years. Over the past 10 years, the organization behind this fund, JumpStart, has supported 85 companies in the Buckeye State.
- Strong competition: In the same release from Senator Manning, she highlighted the importance of keeping the Ohio economy competitive through the influx of newer businesses. This is a trait that could ultimately benefit transplants as well as native businesses.
Growth Capital Corporation helps small businesses develop through the use of appropriate loans. Debt service coverage could contribute to business expansion. Contact us through our website or register for our mailing list to learn more.