The Maryland Department of Business and Economic Development (DBED) is committed to fostering growth among small businesses throughout the State. MDBIZ News sat down with DBED’s Director of the Office of Small Business Sean McEvoy to discuss some of the available resources.
Q: Why are small businesses so important to Maryland’s economy?
A: Small businesses are important because of their role as new job creators at both the national and the state level. In the U.S., small firms, as defined by the SBA, accounted for 63 percent of the net new jobs created between 1993 and mid-2013 (or 14.3 million of the 22.9 million net new jobs). Since the end of the recession (from mid-2009 to mid-2013), small firms accounted for 60 percent of the net new jobs. They also make up 99.7 percent of U.S. employer firms. Maryland’s nurturing environment for small businesses and entrepreneurs is no secret. The U.S. Chamber of Commerce ranked Maryland the No. 1 state for entrepreneurship and innovation for two years in a row