Last Updated on August 23, 2023 by Hannah Stevens
The federal government spends more than $11,805.00million dollars annually in grants and other funding sources from local governments. This is because small and large businesses are the backbone of Maryland’s economic growth. Maryland has 109,087 businesses. They are broken down into the following:
Maryland Business Sector Breakdown by Size:
- 62,872 businesses in Maryland have between 0 and 4 employees. This breakdown includes those who work from home as sole proprietors.
- 18,403 businesses in Maryland have between 5 and 9 employees.
- 11,916 businesses in Maryland have between 10 and 19 employees.
- 10,546 businesses in Maryland have between 20 and 99 employees.
- 2,704 businesses in Maryland have between 100 and 499 employees.
- Over 2,646 businesses in Maryland have over 500 employees.
Maryland Business Sector Breakdown in Service Industries:
- The Professional, Scientific and Technical Services sector have 19,317 Maryland Businesses under its registry
- The Administrative, Support, Waste Management, and Remediation Services sector have 8,151 Maryland Businesses under its registry
- The Accommodation and Food Services sector have 10,879 Maryland Businesses under its registry
- Maryland has more than 13,615 registered companies. They are service-oriented businesses that are not yet included in the above categories.
You may also be eligible for grants for small businesses if you work in the agriculture industry. Maryland has more than 13,000 farms.
Small Businesses in Maryland
It is difficult to start and manage a small business in Maryland. In Maryland, more than $96,620.659,000.00 US dollars is spent on employee salaries/payroll. Every year, more than 29105 businesses file for bankruptcy. The federal government doesn’t provide grants to entrepreneurs for expanding or starting a business. However, Maryland grants to small businesses are available to help business owners start and grow their ventures. Grant recipients don’t have to repay the grant funding. It is worth looking into small business grants to help fund your business.
Contact us to apply for Maryland business grants Maryland financial assistance agencies .
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: