Ohio businesses should take advantage of the strengths in their state. Business News Daily's Adam Uzialko recently looked at three major opportunities available here for small businesses, the first of which was the "community support" present in Ohio. This includes both professional support from local programs and a general attitude among consumers that supports these companies over out-of-state ones.
"With scores of incubators and accelerators scattered throughout the state, some of which are located on Ohio's many college campuses, entrepreneurs are never hard-pressed to find useful resources and mentorship nearby," Uzialko wrote.
With that in mind, business owners should study the specific policies that apply to Ohio ventures. For those that are just starting out, the resources below can make it easier to surmount the early challenges and establish a trustworthy name.
- Community Advantage loans: Have trouble obtaining a 7(a) loan? This program can apply to loans as high as $250,000, according to the Small Business Administration. In Ohio, this could help small-business owners in underserved areas work towards their capital goals. You can learn more about this on our own Community Advantage page.
- Demographic– specific support: The Ohio Small Business Development Centers touches on this in its guide for beginning Ohio businesses. Women business owners, for example, can turn to local organizations like the Columbus Area Women's Business Council as they seek out national certification. To be recognized as a women's business enterprise, the source states, more than 51 percent of the business must be "controlled, operated and owned by a woman or women."
- Local SCORE chapters: In the Ohio edition of its 2015 Resource Guide for Small Businesses, the SBA said that the SCORE network includes 11,000 heads of small business across the country. There are several chapters in Ohio, including locations in Cincinnati, Columbus and Dayton.
Contact Growth Capital today to learn how to get SBA loan programs that work best for your small business.