Development Highlights Ohio’s Entrepreneurial Successes During ‘National Small Business Week’

(COLUMBUS, Ohio) - In celebration of National Small Business Week (May 4-10), the Ohio Department of Development is recognizing the powerful role entrepreneurs play in shaping the state's economy and communities.

"National Small Business Week is the perfect opportunity to recognize the incredible contributions small businesses make to our state," said Lydia Mihalik, director of the Ohio Department of Development. "From family-run bakeries to fast-growing startups, the Department of Development is helping businesses grow and thrive in every corner of Ohio. By providing access to tools, training, and capital, we're empowering entrepreneurs to build something meaningful and create brighter futures for their families and communities."

According to new data from the U.S. Small Business Administration, Ohio is home to more than 90,000 small business retailers. Development is encouraging Ohioans to support small businesses this week - and every week - by shopping local.

Through its statewide network of Small Business Development Centers (SBDCs) and Minority Business Assistance Centers (MBACs), Development supports small business owners and entrepreneurs by offering free services. In 2024, Ohio SBDCs served 12,079 small businesses and entrepreneurs, delivering 47,579 hours of no-cost confidential advising and hosting 600 training events. SBDCs helped clients access more than $144 million in capital.

One of those entrepreneurs is Karen Gordon, owner of KG's HomeBaked Goodness in Cleveland. With guidance from her local SBDC, Gordon earned several key business certifications, expanded her network, and used training tools like the "Becoming Bankable" workshop to build credit and access capital.

"SBDC has expanded my knowledge in the business world; from the language that is used to learning how to properly navigate," said Gordon. "SBDC is a resource to be treasured by any small business owner. Having this kind of access in this realm has changed my mindset."

Development also helps traditionally under-resourced businesses through its Minority Business Development Division, which provides customized support and access to capital.

Central Ohio-based Flavor 91 Bistro is one of many businesses that benefited from the department's small business resources. The family-owned restaurant Flavor 91 Bistro located in Whitehall sources food from local Ohio farms and provides healthy, freshly cooked meal options. Business owner Freweini Alemayoh received a Women's Business Enterprise loan for leasehold improvements, which will help her hire additional staff.

"The resources received from Development have helped Flavor 91 Bistro grow our capacity, take on larger opportunities, and continue to serve as a trusted employer and gathering place in the Whitehall community," said Alemayoh.

In 2024, Development provided $15.1 million in low-interest loans to support more than 300 under-resourced businesses looking to expand their operations and create additional jobs in the state.

To help businesses that may not have access to capital through private lenders, Development's Regional 166 Direct Loan program provides low-interest loans to help them expand and create or retain jobs. Companies able to use the funding to, among other things, purchase real estate and new equipment. In 2024, Development approved more than $22.9 million in loans to 38 projects in 22 counties.

The Ohio Third Frontier is a technology-based economic development initiative that provides critical support to startup companies and Ohio research institutions through programs like the Technology Validation and Start-up Fund and the Pre-Seed/Seed Plus Capitalization Program. In 2024, the Ohio Third Frontier awarded 42 TVSF grants worth $11.75 million to help commercialize technologies and support early-stage technology companies in underserved communities and populations across the state.