You know all about the personal incentives for starting your own business. You get to be your own boss. You get to set your own hours. You get to do something that you love. As the business grows, you really set yourself up for the type of success that you could never find if you were working for someone else.
But what about more specific incentives, especially the financial ones? What you'll find is that the city of Cincinnati does have a number of them that new business owners may want to consider. A few examples include:
- Job creation tax credits
- Property investment reimbursements
- Community reinvestment areas
- Real estate redevelopment programs
- Attractive small business loans
- Infrastructure assistance
- Special assistance for business owners of specific ethnic backgrounds
- Small business counseling
- Additional financial incentives, which change with time
In short, the city understands that it is better for the area and the economy to have small businesses that are growing and thriving. They have programs in place to help give something back to potential small business owners. Some of these incentives and tax credits may help a business make financial sense when it simply could not have launched otherwise.
If you are thinking about forming your own business, it's important for you to understand how to use these programs and incentives to your advantage. Many new business owners overlook the very things that could make a world of difference and lead them to lasting success. Be sure you take the time to consider all of the legal and official steps you need to take.