In 2007, DBED created the Division of Small Business and restructured and refocused staff and resources to better support the creation, survival and growth of Maryland’s small businesses by providing strategic counseling, assistance with access to capital, as well as regulatory and technical assistance.
The Division partnered with the Office of Military & Federal Affairs and The Governor’s Office of Minority Affairs to fund a study aimed at determining opportunities for small and minority businesses through contracting and business development.
The Division agreed to assist small businesses in Anne Arundel and Harford counties by providing staff to deal directly with small business issues related to BRAC.
Provided $135,000 to support the Maryland Procurement Technical Assistance Program (PTAP), which helps small and minority businesses obtain government contracts. In 2007, the program helped Maryland companies receive $154,126,442 in 193 prime contract awards and $2,787,811 in 29 sub-contracts from federal, state, and local governments.
Awarded $250,000 to the Strategic Assistance Consulting Fund, which provides consulting services for small and minority businesses, including micro-enterprises. To date, more than 450 clients have received accounting, human resources, information technology, strategic planning, and other specialized assistance.
Provided $85,400 to help support the work of our partners at Maryland Small Business Development Centers. Working with aspiring entrepreneurs, startups, and existing businesses, SBDC staff members provide target counseling, training, and outreach assistance to more than 10,000 small business clients annually.
