Why Women Should Start a Business in Maryland, and Yes, Even Baltimore

Maryland Business Statistics Show Women-Owned Businesses Are Booming

Maryland State Flag
Maryland State Flag.

Maryland is a great place for women entrepreneurs to set up shop.  In 2014, Maryland ranked second in the nation for having the highest percentage of women-owned firms, owning 39.5% of all Maryland businesses.  Also in the same year, Maryland ranked eight in the nation for the percent of women-owned firms with paid employees (20.5% of all employers were women-owned businesses.)

A few more exciting entrepreneur-friendly statistics the state of Maryland can boast include:

  • Eighth in the percentage of Asian-owned firms as a share of all firms (7.9%); and fifth in the percent of Asian-owned firms with paid employees (11.9%) 
  • 13th in the percentage of Hispanic-owned firms as a share of all firms (7.0%); and 11th in the percent of Hispanic-owned firms with paid employees (3.5%)

Maryland's Big on Venture Capital Deals

In 2014, Maryland ranked eighth among all fifty states in the number of venture capital deals, and 15th in the dollar value of deals.

In dollars, that translated into a total of 87 venture capital deals made in Maryland in 2014 which resulted in over $363 million in investment funding.

Don't Give Up on Baltimore

Despite sensationalized news stories in the media depicting the community struggles Baltimore has experienced in recent years, in 2014 the city was ranked the second "hottest startup city" in the United States by Entrepreneur magazine.  And, the same year Popular Mechanics ranked Baltimore the fifth "Best Startup City in America."

There is more to Baltimore than what you see on the nightly news!

Getting Started

If you are planning on starting a business in Maryland, you will need to register your business name, register to pay taxes, and obtain licenses and permits depending on the structure of your business and if you will have employees.

Here is information you need to help you start a business in Maryland.

  • Business Licensing Information
  • Obtain a Federal Employer Identification Number (EIN)
  • Tax Registration Information: The state's Comptroller website details tax information for Maryland business owners. You can complete Maryland's Combined Registration Application for taxes online to determine what taxes your business may be assessed.
  • Planning and Zoning Permits: To obtain information on local zoning and building requirements, contact the planning and zoning department in the county in which your business will be located. You can find your local planning and zoning department's contact information in the state's archives.
  • Corporations and Partnerships: You can find information and forms for forming a corporation, nonprofit organization, and partnerships on Maryland's Department of Taxation and Assessments website. Included is information about articles of incorporation, how to close a corporation, and trade name registration forms.

Maryland's Small Business Administration Center

Maryland District Office
City Crescent Building, 6th Floor
10 South Howard Street
Baltimore, Maryland 21201
Phone:(410) 962-6195

Note: Montgomery and Prince Georges Counties in Maryland are serviced by the SBA's Washington, D.C. District Office.

Find Your Next Job

Job Search by