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Thursday, March 12, 2015

$7.6M to boost Maryland small businesses, venture programs

The Maryland Department of Business and Economic Development (DBED) is continuing its partnership with the federal government to assist small businesses. The U.S. Treasury Department’s State Small Business Credit Initiative (SSBCI) has awarded $7.6 million to the State, the second of three planned allotments since 2011, DBED officials announced Wednesday.

“Maryland is committed to supporting the entrepreneurs and small businesses that keep our economy strong, competitive and on the cutting edge,” said DBED Secretary Mike Gill. “SSBCI is an example of the tremendous potential our startups and small businesses have if they are given the right environment and resources to grow, thrive and create jobs for generations of Marylanders to come.”

The latest SSBCI funds will primarily support the Maryland Venture Fund (MVF), the State’s main equity investment program and one of the most active venture investors in the region. The MVF previously received $4.8 million in SSBCI funding, which it used to invest in 14 companies, leveraging more than $180 million in private funding.

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2 comments:

  1. AnonymousMarch 12, 2015 at 11:28 AM

    Best way to run your business is stay as far away from any gov't agency as you can. If those folks know so much about private business, why do they work for the gov't?

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  2. AnonymousMarch 12, 2015 at 12:38 PM

    No small venture businesses need to pop up. Most fail and will be a waste of money. We need established manufacturing jobs. Companies that have been around and looking to relocate. We've lost so many recently. Their tax money is more needed than a ventures tiddly winks and manufacturing jobs will create more jobs as well. This must be a Jake day dream come true!

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