But that’s not all. In the US News and World Report’s Opportunity Rankings, Ohio ranked sixth in the US. The ranking is based on the state’s superb ability to offer the tools Ohioans need to be successful. Specifically, the state exceeds expectations for equality, economic opportunity, and affordability. That means in Ohio you’re likely to have success achieving important factors like getting a high quality education, affording a home, and equal pay. That’s good news for Ohio’s small businesses and their future employees looking to launch their success.
With everything Ohio has to offer, it is no wonder the state’s economy is also booming. According to Statista, Ohio place #7 in the US, just behind California, Texas, New York, Florida, Illinois, and Pennsylvania in 2021. According to the U.S. Bureau of Economic Analysis’s research, Ohio’s Gross Domestic Product (GDP) hit $638 billion in 2022. Take a look at the evidence for yourself, it is looking like Ohio is only going up from here.
In October 2022, The Ohio Department of Development announced that “up to $182 million will soon be available to support small businesses in Ohio.” But wait…there’s more! According to USgrants.org, “Although the federal government does not publically provide grants for starting and expanding a business, in Ohio, some small business grants are given to business owners to start and grow their ventures, and grant recipients do not have to pay back the funding from government.” That sounds out of this world. So, take a look at small business grants in Ohio as a potential source of funding to blast off the start for your business.