The City of Baltimore, Maryland, is home to about 620,000 people, nearly 70 percent of whom are ethnic minorities (primarlily black.) And while the city’s economy has been struggling for many years, an influx of immigrants has helped grow Baltimore’s population for the first time in over six decades.Unemployment in the city is down from a 10-year high of 11.8 percent after the financial crash of 2008, and has been hovering around 6 percent since the start of 2018. Thus, It seems clear that Baltimore is poised to take part in the nation’s economic recovery, and the Mayor’s Office of Minority and Women-Owned Business Development (MWBD) is charged with making certain that women and minorities are part of that growth.
About the Baltimore MWBD
The Baltimore Office of Minority and Women-Owned Business Development is a municipal agency whose focus is on helping women and minority-owned businesses build capacity and create wealth. The agency partners with a number of public and private sector resources to provide technical assistance, training and better access to contracting opportunities throughout the state. Some of the MWBD’s current partners and resources include:
- An annual Procurement and Outreach fair that offers workshops, business opportunities and the opportunity to network with procurement officers from all city agencies.
- The Baltimore City Local Contractor Development Program, which provides technical assistance and help with bonding to local construction companies who wish to do business with the Department of Public Works and the Department of Transportation.
- A Women’s Business Forum, which gives local women business owners the opportunity to network with other female businesswomen and to meet with representatives from city agencies to discuss the procurement process and ways to position themselves for success.
- A Vendor Seminar Series, which teaches business owners the policies, procedures, processes and laws around doing business with the City of Baltimore.
- The Small Business Resource Center, where entrepreneurs can find a wealth of information about starting a business, from creating a business plan to financing and accessing capital. The SBRC is located at 3 West Baltimore Street in Baltimore and is open to the public every weekday from 9 a.m. to 5 p.m.
- The Baltimore Development Corporation, a nonprofit that advocates for the inclusion of minority and women-owned businesses who are interested in opening, growing or relocating a business to the City of Baltimore, especially on the West Side.
- East Baltimore Development, Inc, which works to ensure that minorities and local small businesses are included in the development of the East Baltimore Technology Park. In 2017, the EDB exceeded its MBE participation goal of 27 percent by awarding nearly 34 percent of construction contracts, worth $147 million to minority owned businesses. .
Baltimore Revitalization Program
In addition to its efforts to support and advise minority and women-owned businesses, the city of Baltimore is investing in a neighborhood revitalization program, Baltimore Main Streets. The goal of the program is to provide targeted resources to designated districts in order to attract new businesses and create jobs. Baltimore’s Main Street program has identified nine designated communities, each of which receives a different level and type of support depending on its needs. These may include things like marketing and event planning, technical support, financial assistance for website design, architectural services, streetscape improvements, financial grants and more. Just one example — between 2000 and 2014, $3.6 million in public grant funds were awarded to the nine neighborhoods for facade improvements. These funds were matched by private resources in the amount of almost $13 million.
About Carmoon Ltd.
Carmoon Ltd. is an insurance broker located in Hicksville, New York with affiliates across the United States. We offer a full suite of business insurance products and risk management services and assist qualified businesses to gain access to capital. We are also a minority-owned business, so we have a deep understanding of the unique challenges that MWBEs face. Why not give us a call today to discuss your needs? Or if you prefer, just reach out online and we’ll get back to you at a convenient time.