The American Dream is Real
Friday May 13th, 2016
America’s foundation was built on the vision of individuals who risked everything to start anew. The idea that one could arrive in the United States with little to nothing and build a life fueled an insurgence of entrepreneurs from across the globe. The “American Dream” is real, and Baltimore’s small business community is a magnet for the minds that are driving innovation and technology in varying industries nationwide.
In February I launched Baltimore City Source Link in collaboration with the Baltimore Development Corporation, to open the exchange of information and resources among entrepreneurs, small businesses and service providers.
Through my office of Minority and Women-Owned Business Development, I am working to help those who are historically underrepresented and have unique challenges in accessing support in areas ranging from capital access to skills training.
Building on Baltimore’s small business community has helped solidify our reputation as a world-class start-up city. Many of our neighborhoods are anchored by local entrepreneur businesses that generate economic benefits from job creation to community reinvestment. These thriving small businesses offer opportunities for inclusion.
Nationally, nine out of ten new jobs are created by small businesses which is why we focus on helping entrepreneurs and small business owners identify the right resources to ensure their growth and prosperity.
There are numerous incentives available when opening a business in Baltimore.
As a Welcoming City, I am proud to offer other resources at city-supported incubators like Impact Hub Baltimore, ETC Baltimore, and the Latino Economic Development Center that serves City residents and supports targeted businesses, like mission-based enterprises and culturally-centered companies.
Our strength is in our diversity, and Baltimore’s immigrant business community is one of the fastest growing segments of our local economy. A remarkable 21% of local businesses are owned by new Americans who have generated more than 1.3 billion dollars in revenue for our city.
As we consider Baltimore’s existing assets and growth potential, regardless of the size, type or stage - local businesses are key to defining our market – and I am committed to ensuring that everyone has an equal opportunity to scale and grow their ventures with ample support.
Baltimore’s business community is diverse, smart and driven. From the emerging fashion designer to tech savvy innovators to global brands, our City has an economy that is growing. I encourage everyone to support our City businesses and to those who have an idea, seek out the resources available and start one of your own.
On Monday, May 16th MWBD will host the final workshop of our Baltimore City Vendor Development Seminar Series. This week’s topic is Market Opportunities in Baltimore City Government which is designed to provide pertinent information to those interested in competing for government contracts. Follow this link to learn more and register.