Empowering Minority-Owned Businesses in Ohio

GrantID: 76288

Grant Funding Amount Low: $100,000

Deadline: Ongoing

Grant Amount High: $250,000

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Summary

Organizations and individuals based in Ohio who are engaged in Income Security & Social Services may be eligible to apply for this funding opportunity. To discover more grants that align with your mission and objectives, visit The Grant Portal and explore listings using the Search Grant tool.

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Community Development & Services grants, Community/Economic Development grants, Disaster Prevention & Relief grants, Environment grants, Food & Nutrition grants, Health & Medical grants.

Grant Overview

Ohio's minority-owned small businesses face significant barriers to success, with lower access to capital and technical assistance compared to their non-minority counterparts. The state's economic development strategy recognizes the importance of supporting these businesses, particularly in regions like Cleveland and Cincinnati, where minority entrepreneurship is crucial to community vitality. The Support for Minority-Owned Small Businesses initiative in Ohio aims to address these systemic barriers through targeted technical assistance and financial support. By partnering with local economic development organizations, the initiative seeks to enhance business viability and promote economic growth. Ohio's Minority Business Development Centers will play a key role in delivering these services. What Outcomes Should Ohio Expect? The initiative anticipates improved business survival rates, increased job creation, and enhanced economic activity in minority communities. Ohio's economic development strategy is distinct from neighboring Michigan's due to its focus on regional development centers. The state's major industries, including manufacturing and healthcare, offer opportunities for minority-owned businesses to thrive. Ohio's urban areas, such as Columbus and Dayton, will be a focus for the initiative, alongside rural regions with significant minority populations. The program will track outcomes, including business growth and job creation, to assess its effectiveness. Ohio's unique blend of urban and rural minority communities requires a tailored approach to supporting minority-owned businesses. By providing targeted support, Ohio aims to reduce disparities in business ownership and promote economic equity. The state's initiative will prioritize businesses in industries with high growth potential, such as technology and renewable energy.

Eligible Regions

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Grant Portal - Empowering Minority-Owned Businesses in Ohio 76288

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