Entrepreneurship in Ohio

Ohio's supportive business climate makes the state attractive to many entrepreneurs in a variety of industries from automotive to polymers. The state's tax reform rewards entrepreneurial and start-up activity by not taxing a company's first $1 million in annual gross receipts. This helps new businesses become established and show an earlier profit. In addition, the state has many innovative programs and services helping Ohio entrepreneurs and small business owners, through effective communication, collaboration, creativity and technology support, encourage sustainable growth.

Ohio entrepreneur Dana Myers believes in Ohio and started Myers Motors in Tallmadge, Ohio.

The Meyers Motors NmG

Myers Motors is the only company in the U.S. producing and delivering affordable highway speed all-electric vehicles. Myers Motors' NmG (No more Gas) is America’s only all-electric, highway-legal, personal vehicle with a maximum speed of 75+ mph. It is a fully enclosed, single-passenger vehicle with two front wheels and a single drive wheel in the rear. With a 220-volt service, charging to 95 percent full can be accomplished in about 45 minutes. For those who don’t need the fast charging option, the NmG will plug into any 110 volt, 20 amp service outlet. A fully energized NmG will go 25 to 30 miles, the average distance people drive their car every day.

The history of the NmG goes back to the Corbin Sparrow produced by Corbin Motors. The Corbin Sparrow was flawed with a history of electrical and mechanical problems and quickly bankrupted its company. Dana Myers believed strongly that replacing gasoline-powered vehicles with electric ones can make the world a cleaner, better place. He bought Corbin Motors and started Myers Motors. Rechristened the NmG, Myers Motors offered the new redesigned electric vehicle for sale in 2006.

Dana lives in Silver Lake, Ohio with his wife, Barbara, and two children (one a sophomore in college and one a sophomore at Cuyahoga Valley Christian Academy in Cuyahoga Falls, Ohio). They attend Hudson Chapel, have been active with The Jesus Film Project and Walk Thru the Bible, and took their family to Africa four years ago to plant gardens in South Africa.  Dana loves spending time with his family, reading and playing golf.

I recently had the opportunity to speak with Dana. Not only has Dana achieved professional success with Myers Motors, but he’s found that perfect work:life balance that only Ohio has to offer.

Click here to read more about my interview with Dana.

Small businesses thrive in Ohio

Entrepreneurial companies and small businesses are a key driver of economic growth and innovation. According to the U.S. Small Business Administration, small businesses:

• Employ about half of the country’s private sector workforce
• Hire 40 percent of high tech workers, such as scientists, engineers and computer workers
• Represent 97.3 percent of all the exporters of goods
• Represent 99.7 percent of all employer firms
• Generate a majority of the innovations that come from United States companies

Ohio’s business environment is designed to promote small business development and entrepreneurship. The state has a number of resources and tools available to help small businesses continue down the road to success. In fact, the Small Business & Entrepreneurship Council Business Tax Index 2008 report found that Ohio has the best tax system in the Midwest in terms of the costs of tax systems on entrepreneurship and small business.

In addition, Ohio business owners profit from the bottom-line benefits of better work:life balance for their employees. Ohio’s low-cost, low-stress communities and combination of micropolitan and metropolitan cities provides executives and employees the resources and time to make any ambition achievable. The state’

s favorable business climate and high quality of living, combined with low business and personal costs, make the state an increasingly viable location for business growth.

I recently spoke with entrepreneur Glenn Hasek, the publisher and editor of Green Lodging News (Middleburg Heights, Ohio), who found that Ohio has provided him with the time and resources he needed to launch his own online publication. In 2006, Glenn launched Green Lodging News, which focuses solely on environment-related issues that impact profitability for the lodging industry. Green Lodging News covers the hottest issues impacting hotel operations in the following areas: energy management, HVAC, waste management, design, cleaning and maintenance, water conservation, lighting, appliances, green design and more.

Glenn talks about how Ohio is a great location to grow a start-up business because of the price of real estate and office space, the public transportation is accessible and easily available and there are many educated entrepreneurs with whom he can network and partner.

Click here for the complete interview with Glenn Hasek.

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Entrepreneurship alive and well in Ohio

Few people can argue that small businesses and entrepreneurs are the backbone of the American economy. The contribution small business owners make in terms of job growth and business development and expansion have a huge impact on the overall success of the economy. This is why the state of Ohio has made it a priority to provide innovative programs and services to Ohio entrepreneurs and small business owners through effective communication, collaboration, creativity and technology support, to encourage sustainable growth. From the state’s recent tax reform to the growing number of business development and incentive programs, Ohio is increasing the global market orientation of its companies to better compete in the 21st century economy.

The ability to maintain some level of work:life balance while managing through the challenges of a new company start-up is often top-of-mind for entrepreneurs. In Ohio, an entrepreneur can build his or her business and without having to unnecessarily sacrifice their personal life.

Money is often a major stressor for entrepreneurs. Rarely is there enough to fuel the dream – every dollar is extremely dear to the operation. Ohio provides the opportunity for entrepreneurs to have access to world-class academic and supply chain resources required for business success, without the burden of high overhead cost structure experienced in many competing locations. Ohio provides entrepreneurs the perfect balance between low overhead costs and access to mission critical services.

Today I read a great blog by Elizabeth Edwards on Soapboxmedia.com challenging an Ohio city to stay innovative. Elizabeth is a venture capital investor at Neyer Holdings. She is an active member of the Cincinnati USA Regional Chamber Agenda 360 Initiative, serving on the committee for Economic Competitiveness, and is a founding board member of several community organizations, including the Twenty-first Century Forum and CincyPAC. Founder of Cause Catalyst, Elizabeth fundraises and raises awareness for better diagnostic and therapeutic solutions for melanoma. She is a member of the Cincinnati Chamber's C-Change Class 3, where she was co-chair of the Transportation team that created Fetch, a single number for cab service in Cincinnati (513-35-FETCH). Elizabeth is also the founder of InOneWeekend, an innovation and entrepreneurship organization that hosts participant-driven events where 100 people create a start-up company in 3 days.

Elizabeth takes a look at how just one Ohio city, Cincinnati, stacks up against other major metropolitan markets. In order to create long term economic growth, new companies, investment and jobs in the states, she challenges Cincinnati and Ohio to stay innovative. As she puts it, “The only way to stay innovative is to invent, invent, invent.”

Check out Elizabeth’s posts at Soapboxmedia.com.

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