Message from Special Secretary Rhee

Are you aware of the economic principles being applied to your business every day? Many people think economics is too complicated, yet at the most fundamental level, the economy is like a machine. If you are willing to invest 30 minutes of your time to understand how this machine works, I invite you to watch a video produced by Ray Dalio, founder of Bridgewater Associates which manages the largest hedge fund in the world. Several years ago he released this timeless video on how the global economy works. Dalio reduces a complex topic to three major forces. I believe you will feel very empowered by this information. Use it to advance your business, and please share it with another entrepreneur in your personal network.

How the Economic Machine Works

Sincerely,

Jimmy Rhee

Special Secretary

Office of Small Business Regulatory Assistance
Created by Executive Order

Governor Larry Hogan recently issued an Executive Order to reorganize state government for the purpose of creating the Office of Small Business Regulatory Assistance. The action is in direct response to House Bill 1, the Maryland Healthy Working Families Act, which was passed over the Governor's veto. The Governor's order follows widespread calls to fix serious flaws in that legislation and delay it's implementation. He continues to call on legislators to pass the administration's Paid Leave Compromise Act of 2018, which addresses the most punitive provisions for employers, and his Small Business Relief Tax Credit, which provides help with associated compliance costs. Leading legislators have indicated a willingness to take up the Governor's proposals. The new office will be housed within the Department of Labor, Licensing & Regulation and led by the Governor's Business Ombudsman, Randall Nixon. The Maryland General Assembly has 50 days to consent or pass a resolution of disapproval. 

Executive Order 01.01.2014.04

Small Business Bill Tracker

The Maryland General Assembly will look at over 2,000 pieces of proposed legislation. With only 90 days to get it all done, things in Annapolis are moving at a fast pace. We're watching all legislation that impacts the small business community and we've designated a special page on our website to make it easy for you to follow along. Visit our Bill Tracker often and stay connected to issues that may have a direct impact on your small business. The page includes a link to help you connect with your elected officials.

Small Business Bill Tracker 

Access to Capital

Are you a business owner in need of capital? Look into the Microenterprise Loan Program offered through the Department of Housing and Community Development's Business Lending unit. It is designed to provide flexible financing for microenterprise start-ups and expansions within designated areas throughout the state. Loan amounts cannot exceed $50,000 and can be used for working capital, minor renovations and leasehold improvements, machinery, equipment, marketing, and more. Contact a member of the business lending team for complete details.

Microenterprise Loan Progam 

Small Business Development

Ready, Set, GROW! Visits the Mid-Shore Region

Ready, Set, GROW! is a unique workshop that connects small business vendors with buyers from state agencies. We travel all over the state and our first stop in 2018 will be Chesapeake Community College on February 21st from 9:30 a.m. - 1 p.m. Small, minority, women, and veteran business owners interested in doing business with the State of Maryland are encouraged to attend. Buyers from the Department of Health, General Services, Natural Resources, and the State Highway Administration will be on hand to discuss current opportunities. Join us for this free business development event.

Ready, Set, GROW! Mid-Shore Region

Technical Training Classroom

Every month we host two small group training sessions on topics that can help you master the state procurement process and build your general business skills. All sessions are free and are held at the Governor's Coordinating Offices in Crownsville on the fourth Thursday of the month. Seating is limited, so register early. Here's what's coming up:

February 27th
10 a.m. - Navigating eMaryland Marketplace
2 p.m. - Amp Up Your Small Business

2018 Technical Training Classroom Schedule