Maryland provides an excellent environment for startups to gain valuable experience, excitement, and a sense of fulfillment to launch and sustain their businesses successfully. It’s not surprising that there are tons of resources available to entrepreneurs and others alike in Maryland.
A vast majority of these resources are organizations (governmental and non-governmental) that have separate departments to meet the needs of entrepreneurs.
In this article, we’ll be taking a close look at six departments created to assist entrepreneurs scale through the several hurdles encountered in business.
1. Maryland Small Business Development Center (SBDC)
The Maryland Small Business Development Center gives small business owners management, technical assistance, and advice. The department was designed to give up-to-date mentorship in all aspects of small business management and reach out to minority members of economically disadvantaged societies.
They also assist small businesses applying for Small Business Innovation and Research (SBIR) grants and other grants or incentives from governmental and non-governmental bodies.
2. Maryland Department of Business And Economic Development (DBED)
The Maryland Department of Business and Economic Development is the state’s resource center for economic and statistical data, foreign trade opportunities, conservation information, development strategies and opportunities.
This department heads Economic Development and Travel and Tourism Development divisions as separate and individual bodies. The divisions are dedicated to enhancing the economic vitality of the State.
3. Maryland Chamber of Commerce
The Chamber of Commerce is a board of trade responsible for advocating on behalf of businesses and providing entrepreneurs with services and resources (mostly financially related) to boost their businesses to the next level.
It’s an invaluable business network whose goal is to further the interest of the organizations. Some duties of the Chamber of Commerce are:
- To lobby the government on topics that support members’ interests.
- To assist businesses in marketing and publicity
- To organize networking events, and so on.
4. Maryland Technology Development Corporation (TEDCO)
The Maryland Technology Development Corporation was established in 1998 by the Maryland General Assembly to aid the creation of businesses and support their overall growth across the state. They are a major source of funding for technology-based startups and offer assistance to entrepreneurs to foster technology transfer and commercialization.
In their words, their mission is “To enhance economic empowerment by fostering an inclusive and entrepreneurial innovation ecosystem. To Identify, invest in, and help grow technology companies in Maryland.”
5. Maryland Department of Labor, Licensing, and Regulation (DLLR)
The Maryland Department of Labour, Licensing, and Regulation changed its name to the Department of Labour in 2019. It is a government agency established on July 1, 1995, committed to protecting and safeguarding Marylanders. They provide businesses and the general public with customer-focused regulatory, employment and training services.
Aside from these departments, other resources entrepreneurs can leverage on for their business include; analytics tools, competition research, writing resources, customer communication tools, project management resources, Website creation tools, and so on.
In Conclusion;
There are a lot of resources available to entrepreneurs in Maryland. These resources can help entrepreneurs understand the various aspects of starting and running a business, access funding, develop business plans and strategies, and connect with customers effectively.
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