Ohio is a fantastic place to start a small business as the state government offers various financial incentives to entrepreneurs. If you’re planning to launch a business in Ohio, there are numerous small business grants that you may be eligible for. These grants can help you reduce your startup costs and grow your business. Here are the top 5 Ohio small business grants to apply for in 2022:
1. Ohio Development Services Agency’s Minority Business Enterprise Grant
The Ohio Development Services Agency (ODSA) runs the Minority Business Enterprise grant, which offers financial assistance of up to $70,000 to minority-owned businesses. To qualify for this grant, your business must be at least 51% minority-owned, registered in Ohio, and have been in operation for not more than a year.
2. JobsOhio’s Innovation Grant
JobsOhio’s Innovation Grant offers financial support of up to $150,000 to small businesses in Ohio’s key economic sectors. This grant is available to companies that are developing innovative products, services, or technologies that have a high probability of commercial success.
3. Ohio Minority Business Development Centers’ Export Assistance Grant
The Ohio Minority Business Development Centers (OMDBCs) Export Assistance Grant provides funding of up to $10,000 to eligible minority-owned small businesses that wish to expand their exports. To qualify, your business must be registered in Ohio and export products or services made in Ohio.
4. Ohio Third Frontier Commission’s Commercial Acceleration Loan Fund
The Ohio Third Frontier Commission’s Commercial Acceleration Loan Fund offers loans of up to $2 million to support early-stage technology companies. This fund is designed to accelerate the commercialization of innovative technologies and enhance Ohio’s technology economy.
5. Ohio Arts Council’s ArtSTART Program
The Ohio Arts Council’s ArtSTART program offers grants of up to $3,000 to small arts organizations and individual artists. This program supports the professional development of Ohio artists and encourages collaboration between arts organizations.
In conclusion, applying for a grant can be a great way to kickstart your small business in Ohio. The above-listed grants are some of the best options available to entrepreneurs in the state. Keep in mind that each grant has its specific eligibility requirements, so make sure you read and understand them before applying. Good luck with your small business venture!
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