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Ohio's strategic geographic location serves as a significant asset for economic growth and expansion. Situated as a vital link between the Northeast and the Midwest, Ohio facilitates substantial cargo and business traffic across its borders via an extensive network of well-developed highways.As of the latest data from the U.S. Small Business Administration's 2024 profile, Ohio hosts approximately 1.1 million small businesses, constituting 99.6% of all businesses in the state. Recent U.S. Census Bureau surveys, including the Annual Business Survey (ABS) and Nonemployer Statistics by Demographics (NES-D), provide insights into minority-owned businesses. The following table summarizes key statistics on minority-owned firms in Ohio based on the most recent available data (primarily from 2022 reference year). Overall, Hispanic or racial minority-owned firms total around 196,883, reflecting ongoing growth in diverse entrepreneurship within the state.
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