Small Biz Bulletin November

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Small Biz Bulletin - November 2017

Jimmy Rhee

Message from Special Secretary Rhee

Maryland is OPEN for Business - and you can be a part of this growing movement by kicking off the holiday shopping season right in your own neighborhood. Saturday, November 25 is Small Business Saturday, a day when we're all encouraged to shop small and shop local. These brick-and-mortar businesses are the backbone of our economy and an important source of jobs within our communities. Much of the money spent at independent retailers stays local, and we all benefit from a healthy economy. Support the entrepreneurs that make your community vibrant and strong by shopping local on Saturday, November 25th.



Jimmy Rhee

Special Secretary

For Your Business

Access to Capital 2

Small Business Financing

The Maryland Department of Commerce is home to a unique loan fund that provides financing to small businesses unable to obtain adequate financing on reasonable terms through traditional channels. The Maryland Small Business Financing Authority (MSDBFA) promotes the viability and expansion of all small businesses, including those owned by economically and socially disadvantaged entrepreneurs, with financing from $50,000 - $2 million for qualified borrowers. More than a simple term loan, the funds can be used for a variety of purchases such as lines of credit, equity investments, and surety bonds.


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Sign up for Email Updates from SDAT

Maryland businesses are required to file an Annual Report and Personal Property Return with the Maryland Department of Assessments and Taxation (SDAT) each year. This applies to ALL businesses and is a requirement for remaining "in good standing." Failure to submit the required information could result in penalties or even forfeiture of your business. SDAT does not mail annual reminder notices. To receive an electronic notice, sign up for email updates. We'll send a reminder message right to your email box so you'll always know when the deadline is approaching.


Randall Nixon

Maryland's Business Ombudsman

Maryland is one of only a few states to staff a business ombudsman. Appointed by Governor Larry Hogan, Randall Nixon, Esq., has been serving in this position for the past year. A lifetime entrepreneur, Randall knows the struggles small business owners experience meeting payroll, finding their next client, or getting paid for work already performed. As an attorney, he seeks smart and lasting solutions to common problems. In his role as our Ombudsman, he serves as your advocate. He is focused on clearing roadblocks when dealing with state agencies and working diligently to ensure Governor Hogan's Customer Service Promise is utilized and achieved. Randall was recently a guest on AHA Business Radio. Listen to the podcast that aired on October 24 and you'll understand why he is a valuable advocate to the small business community. Reach out to Randall directly if he can be of assistance to your small business.


Small Business Events

Most business development takes place outside the office. We maintain a robust calendar of events on our website. We update it daily, so be sure to check back often. Here are just a few upcoming events:

11/28/2017 - Technical Training Classroom:  MBE Forms
11/30/2017 - 15th Annual SMART PROC 2-Day Small Business Procurement Conference
12/05/2017 - How to Demonstrate Past Performance
12/07/2017 - Live Casino & Hotel Minority Outreach Fair
12/12/2017 - Ready, Set, GROW! Access to Capital Forum

Check out our full range of small business events online: