In a recent article for Forbes, Mike Kappel of Ohio's Patriot Software listed the possible strengths of developing a tech company in the Midwest rather than in one of the better-known major tech hub cities across the country. While he acknowledges that those areas tend to have a better IT population, Kappel distinctly connected his business' success to the sense of community seen in a smaller city like Canton, Ohio.
"The modern age of tech companies brings the potential to capitalize on the Midwest."
According to him, the modern age of tech companies brings the potential to capitalize on the connections available in these areas. By keeping as much of the operation "in house" as possible, software businesses can address their customers' needs efficiently and support local workers.
"What other companies call synergy and interdependent work, we just call Midwestern values," Kappel said. "Work/life balances naturally and the results are, if what we're doing at Patriot Software is anything to go by, always high quality."
It's not inconceivable that Ohio will continue to attract tech talent. In 2013, an Entrepreneur piece noted the factors that make Cincinnati attractive to startups, including effective accelerator programs and hundreds of millions of dollars devoted to up-and-coming tech companies.
By taking part in an Ohio SBA loan program, local businesses may gain the resources needed to develop and support a better startup scene in this area. Businesses with a net worth lower than $15 million and an average net profit of $5 million after taxes for two consecutive years could possibly be eligible for the SBA 504 loan, which may add up to more than $10 million.
Learn more about this and other Ohio business loan opportunities by contacting Growth Capital Corporation today.