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Small Biz Bulletin - August 2024
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Message from Special Secretary Martinez
The Power of Partnerships
I have always been deeply moved by these words from Mother Teresa:
"I can do things you cannot, you can do things I cannot;
together we can do great things."
As a small business owner, I’m sure these words resonate with you as well. In our journey toward our dreams and goals, the partnerships we form are essential to our growth and development. Our partners can help us access greater resources, tap into new markets, and gain fresh perspectives. This collaboration can lead to better marketing strategies, expanded product offerings, and increased visibility.
It’s important to remember that partnerships are built on reciprocity — an ebb and flow of support and guidance that is shared. Choosing partners wisely and being mindful of reciprocity is key. Make sure to add value to your partners by pooling resources, sharing responsibilities, or introducing them to others in your network. This mutual support helps both parties grow and thrive. I’ve found that partnerships thrive when they are with like-minded people who share your values and offer complementary products or services.
In our partnerships, there is also a shared understanding of the trials and tribulations, as well as the successes and celebrations, that come with entrepreneurship. We don’t need to stand alone in this journey; our partners are there to provide insight and offer support and encouragement through the challenges and joys experienced along the way.
I’ve been blessed with many wonderful partnerships throughout my entrepreneurial journey. In my role with the State of Maryland, partnerships have been invaluable. Whether working with other State agencies or engaging with business and community organizations, we rely on our partners to help expand opportunities for Maryland’s small, minority, women, and veteran business owners. This vital work cannot be done alone, and I am so grateful for the ongoing support our partners provide.
I hope you are building powerful partnerships, too, embracing the shared journey of growth and success, and knowing that you are not alone.
Sincerely,
Maria Martinez
Special Secretary
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Has Your SBR Certification Expired?
Over 20% of the open solicitations posted on eMaryland Marketplace Advantage (eMMA) are designated specifically for certified small businesses through the Small Business Reserve (SBR) Program. If you have let your SBR certification expire, please rejoin today. Eligible state-funded procurements between $50,000 and $500,000 are automatically designated to the SBR Program. You can easily rejoin through your vendor account in eMMA. Not currently in the SBR Program? This race- and gender-neutral program is accessible to all qualifying small businesses and offers same-day certification to vendors registered in eMMA. There is no cost to participate, you must renew annually to maintain your certification. You'll find all the details online, including Quick Reference Guides with screenshots to walk you through the certification and recertification process. You can also join our T.I.P.S. Small Business Webinar (see Free Small Business Webinar Series) on August 27 for a detailed look at this prime contracting program that paid $599 million to certified small businesses in FY2023.
SBR Program
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FY2025 Procurement Forecast
Small business owners are always looking for trusted information that can help them make informed business decisions and feed their new customer pipeline. Maryland's Procurement Forecast is that kind of a tool. The database was recently updated on the Governor's Office of Small, Minority & Women Business Affairs for the 2025 fiscal year. It is populated with solicitations of $100,000 or greater that are expected to be advertised or awarded through June 30, 2025 and comprises both new and recurring items. Users can choose from six different options to focus their search. By downloading search results to Excel, expanded information is provided, such as the buyer’s name and contact information. Small businesses are often looking for contracting opportunities below $100,000. As a result, many state agencies also include information on projected contracts between $15,000 and $99,000. Access to this vital information reinforces the open and transparent nature of Maryland's public contracting arena. You can even watch a video and download a slide deck with tips on how to mine this powerful tool.
FY2025 Procurement Forecast Portal
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New Federal Reporting Requirement Impacts Small Business Owners
A new federal regulation issued by the Financial Crimes Enforcement Network (FINCEN), an agency of the U.S. Treasury Department, is impacting the small business community. In 2021, Congress enacted the bipartisan Corporate Transparency Act to curb illicit finance. This law requires many companies doing business in the United States to report information about who ultimately owns or controls the business. The Beneficial Ownership Information (BOI) Report became effective on January 1, 2024. Companies that registered their business (with the state) prior to January 1, 2024 must file the federal report by January 1, 2025. Companies formed on or after January 1, 2024 are required to file the BOI within 90 days of registering the business (with the state). The report can be filed electronically through FinCEN's website which provides a receipt upon completion. The electronic filing is secure and free of charge. Daily penalties may be assessed upon failure to file the BOI. Read more about this new federal requirement and tap into the resources provided below.
Beneficial Ownership Information (BOI) Reporting
BOI Small Entity Compliance Guide
BOI Electronic Filing (5-Minute Demonstration Video)
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Getting the Customer Experience Right
The customer experience is being touted as the new brand, and that's great news for small businesses who don't have the same recognition as their big brand competitors. A recent customer experience survey by PwC found that 73% of consumers identify the customer experience as an essential component in their purchasing decision, regardless of the company's size, and they are more likely to try additional services from brands that deliver a great customer experience. The same survey found that one in three consumers will leave a brand upon a bad experience. Small businesses that deliver an excellent customer service experience can thrive and grow even in the most competitive markets. It does require planning and dedication. Check out these great tips from SCORE, the nation's largest network of volunteer, expert business counselors.
Small Business Customer Experience: How to Get it Right
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Small Biz Spotlight
C&E Pharmacy Services, LLC
Congratulations to our Small Biz Spotlight winner C&E Pharmacy Services, LLC. Located in Annapolis, the company was founded by Helen Granado-Boesel RPh, PD, MEd, who serves as the CEO. A former Medical Services Corps Pharmacy Officer with the US Army, she rose to the rank of captain while serving in Germany as a member of the USAEUR MEDCOM unit. After suffering a service disability and becoming a recipient of medical services through the US Department of Veterans Affairs, she returned to Maryland and embarked on a new and innovative business for the veteran community. C&E Pharmacy Services is an International Organization Standardized (ISO-certified) business, with a team of 15 very professional, clinically-astute, and mindful pharmacists. The company has offered services from over 50 pharmacists to the Department of Veterans Affairs since the company was formed. C&E’s team of virtual pharmacists have assisted with the processing and verifying of approximately 5 million scripts over the last seven years. All work is done remotely by their team of highly skilled clinical pharmacists. C&E is doing business at the prime contractor level with the Department of Veteran Affairs and is excited to start performing as an MBE subcontractor with the Maryland Department of Public Safety and Correctional Services in the near future. Learn more about C&E Pharmacy Services, LLC online or give them a call at 240-581-5774.
C&E Pharmacy Services was randomly selected for this Small Biz Spotlight by attending our
T.I.P.S. small business webinar series. Join us later this month for your chance to
be featured in an upcoming bulletin.
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Free Small Business Webinar Series
If you want to do business with the State of Maryland, our T.I.P.S. Small Business Webinar Series is a must. Our carefully curated "Training and Insights for Procurement Success" curriculum delivers an insightful understanding of the state's procurement processes and builds core competencies. Our goal is to help you learn to compete with confidence in the state's contracting arena. Two classes are offered each month and there is never a cost to participate. Just register in advance to receive the participation link.
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eMMA Vendor Training
The State of Maryland is dedicated to facilitating an open and transparent procurement process. To ensure all businesses have the opportunity to participate in the contracting process, the Maryland Procurement Academy (MDPA) and Office of State Procurement (OSP) offer a variety of online resources to help vendors effectively use eMaryland Marketplace Advantage (eMMA), Maryland’s online procurement platform. Visit the Vendor Training and Support page to view the schedule of upcoming virtual instructor-led sessions and access the vendor web channel of on-demand video content.
eMMA Vendor Training and Support
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