As an entrepreneur, one of the biggest challenges you may face is raising the funds necessary to get your business off the ground. Fortunately, Ohio offers a range of small business grants to support entrepreneurs in their endeavors. In this article, we’ll take a closer look at the top small business grants in Ohio and what you need to know to secure them.
1. Ohio Development Services Agency (ODSA) Funding
The ODSA is a powerful resource for small businesses in Ohio. The agency provides a range of grants, loans, and tax credits designed to support early-stage and established businesses. Some of the most popular options include the Ohio Job Creation Tax Credit, the Ohio Research and Development Investment Tax Credit, and the Ohio Manufacturing Machinery and Equipment Investment Tax Credit.
2. Ohio Grants for Empowering Young Entrepreneurs (OGEYE)
If you’re a young entrepreneur in Ohio, the OGEYE program could be just what you need to get your business started. This program offers grants of up to $5,000 to entrepreneurs aged 13 to 29 who are enrolled in high school, college, or a vocational program. The funds can be used to launch or expand a business, purchase equipment, invest in training, or cover other startup costs.
3. Ohio Third Frontier Technology Validation and Startup Fund
The Ohio Third Frontier is an initiative designed to support innovation and entrepreneurship in the state. The Technology Validation and Startup Fund is a vital part of this program, providing grants of up to $50,000 to early-stage technology companies working in key sectors such as advanced materials, energy, and life sciences. The goal is to help companies validate their technologies, bring them to market, and create jobs in Ohio.
4. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs
The SBIR and STTR programs are national initiatives designed to encourage small business innovation and help bring new technologies to market. Through these programs, Ohio businesses can apply for federal funding to support their research and development efforts. The grants are provided in multiple phases, with the aim of helping companies move from concept to commercialization.
5. Economic Development Administration (EDA) Grants
The EDA is a federal agency that supports economic growth and job creation in communities across the country. In Ohio, the agency provides grants to support a range of activities, including infrastructure development, job training, and business expansion. The EDA’s grant programs can be a valuable source of funding for businesses looking to invest in new facilities or expand their operations.
Conclusion
Ohio is a great place to start and grow a small business, with a range of funding options available to support entrepreneurs of all ages and backgrounds. Whether you’re a young entrepreneur seeking your first grant or an established business looking to expand, there are plenty of resources available to help you succeed. Keep these top small business grants in Ohio in mind as you explore your funding options, and don’t hesitate to reach out to local organizations for additional support and guidance.
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