We recently did a breakdown of a NerdWallet survey that analyzed some of the key elements that make Ohio such a thriving state for small business owners. Among those takeaways were an unemployment rate below the national average, a strong job market, healthy economy and a robust business climate that makes it easier for ambitious Ohioans to network with like-minded entrepreneurs and succeed. But, much like the first rule of real estate, running a small business that grows rather than flounders is all about location, location, location.
On that note, here are five of the best places in the Buckeye State to start and grow your own business:
- Blue Ash: "With the highest concentration of businesses relative to population in the state of Ohio (24.19 businesses per 100 residents), Blue Ash takes the top spot as the best place to start a business in the Buckeye State," writes NerdWallet. "This Hamilton County community 15 miles northeast of Cincinnati also has provided business opportunities for many well-known entrepreneurs — multinationals such as Coca-Cola, Procter & Gamble Co. and Toyota have operations in Blue Ash, and the city is the headquarters of The J. Peterman Co., the clothier made famous by the TV show 'Seinfeld.'"
- Beachwood: Just 10 miles east of Cleveland, Beachwood features over 20 businesses per 100 residents, with the state's lowest unemployment rate of 2.1 percent. These numbers add up to one of the most entrepreneurial-friendly places in all of Ohio.
- Fairlawn: Quickly becoming a hub for healthcare activity, Fairlawn is home to the UH Fairlawn Health Center and Summa Health System, contributing to the second lowest unemployment rate in the state: just 3 percent.
- Independence: The highest-ranked northern Ohio city on the list, Independence is the Buckeye State's own version of Silicon Valley. Tech giants like Microsoft have satellite offices set up in Independence, and a high-speed fiber-optic network running throughout the city has helped attract even more IT and information service companies, amassing an incredible talent pool for entrepreneurs to capitalize on.
- Moraine: With a population of just over 6,300, this modest Dayton suburb boasts the highest average revenue per business in all of Ohio.
Are you an Ohio entrepreneur looking to expand your small business? Do you have a goal of growing a company that will create jobs and stimulate the local economy? And finally, are you in need of long-term, affordable small business loans to help make this dream a reality?
If you fit all of the above, consult with Growth Capital today and our lending experts can help you secure exactly the fixed-rate, long-term financing your business needs.