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Small Business Funding in Maryland

In Maryland alone, there are almost 500,000 small businesses. Roughly 350,000 of these companies run without the help of staff or employees. The rising number of entrepreneurship in the state is astounding since thousands of new businesses are created each year. One in every two small businesses will require funding at some point in their journey.

While Maryland presents a lot of opportunities for businesses, it is not without its downsides. Maryland can be a costly place to run a business when you take into account the state’s high rent, high business taxes, and high labor costs. If you’re not one of Maryland’s independently wealthy (though MD does have a disproportionately high number of such residents), it can be a struggle to obtain enough startup capital to open a new business in Maryland, or to keep your existing small business afloat in the face of high operating costs.

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