Ohio Entrepreneurs Overcome Challenges with State Support, Aim for Growth

CINCINNATI, Ohio — For Talicia McNealy, entrepreneurship wasn’t just a career choice—it was a calling. As co-founder of Victory Medical Alliance, a company providing medical equipment and healthcare support, she knows the highs and lows of business ownership firsthand.

“Some days are hard. Business ownership isn’t easy,” McNealy admits. Yet, she wouldn’t have it any other way. “A job was too small for my spirit. Entrepreneurship is definitely the path for me.”

Her story mirrors that of thousands of small business owners across Ohio, where more than 90,000 small businesses operate, according to the U.S. Small Business Administration. Facing inflation, economic uncertainty, and shifting consumer demands, many entrepreneurs are turning to state-backed resources for support.

Finding Support Through MBAC

Two years after launching their business, McNealy and her husband, Jairus, sought ways to expand. Their search led them to the Greater Cincinnati/Northern Kentucky African American Chamber of Commerce and Ohio’s Minority Business Assistance Center (MBAC).

Through MBAC’s Assets Over Liabilities program, the couple gained crucial financial literacy skills and refined their long-term strategy. “It helped us analyze our numbers, increase revenue, and deliver more value to our clients,” Talicia said.

The results were tangible. After completing the program, Victory Medical Alliance secured $32,000 in additional funding, enabling operational upgrades, software improvements, and new hires. “We’re partnering with a tech provider to enhance our credentialing services—a major step toward scaling,” Jairus added.

Small Business Optimism Declines, But Hope Remains

A recent National Federation of Independent Business (NFIB) report shows declining optimism among small business owners due to inflation and economic instability. Yet, organizations like the African American Chamber of Commerce—celebrating its 30th anniversary—are seeing increased demand for financial counseling, marketing assistance, and AI integration guidance.

“How do you make financial statements understandable to banks or investors? That’s the kind of support we provide,” said Eric Kearney, the chamber’s executive director.

Despite challenges, the McNealys remain ambitious. “We have a three-year plan to grow revenue into the millions,” Jairus said. “It’s measurable, and we’re on track.”

For Ohio’s small business owners, resilience—and the right resources—are key to success.

— Reported by Nexio News