Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates the majority of the budget of more than $25,414.00 million dollars in grants and local government funds of $19,115.00 million dollars annually into the business sector because small businesses and large corporations are the backbone of Ohio’s economic growth. The state of Ohio has 192,796 businesses, and they are broken down into the following:
Ohio Business Sector Breakdown by Size
- 104,867 registered businesses in Ohio have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 36,383 registered businesses in Ohio have 5 to 9 employees.
- 22,898 registered businesses in Ohio have 10-19 employees.
- 20,163 registered businesses in Ohio have 20-99 employees.
- 4,788 registered businesses in Ohio have 100 to 499 employees.
- Over 3,697 registered businesses in Ohio have over 500 employees.
Ohio Business Sector Breakdown in Service Industries
- 24,790 registered businesses in Ohio are in the Professional, Scientific and Technical Services sector.
- 14,083 registered businesses in Ohio are part of the Administrative, Support, Waste Management, and Remediation Services sector.
- 23,525 registered businesses in Ohio belong in the Accommodation and Food Services sector.
- More than 28,769 registered businesses in Ohio are also service orientated businesses, but are not part of the categories above.
You may also be eligible to apply for grants for small businesses if you work in the agriculture industry. The state of Ohio has more than 76,000 farms.
Small Businesses in Ohio
It is difficult to start and manage a small business in Ohio. More than $171,931,000,000.00 US Dollars are spent on employee salaries/payroll alone in this state, and every year, over 72,924 companies declare bankruptcy. The federal government doesn’t provide grants publicly for expanding or starting a business. However, Ohio offers some small business grants to help business owners start and grow their ventures. Moreover, grant recipients don’t have to repay the government funding. So, it is worth looking into small business grants to help fund your business.
Contact Ohio financial aid agencies to apply for Ohio business grants.
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: