Rankings

Maryland is the top state for emerging venture capital investment, according to Site Selection Magazine, which bases the ranking on total and per capita venture capital investment.

According to Lendio, Maryland has the lowest minority unemployment rate, the second-highest number of microloans per capita, the third-largest share of black-owned businesses, and the fifth-highest share of minority-owned businesses, making it a great state for minority entrepreneurs.

Wix analyzed female-to-male ratios across management occupations, top executives, and financial managers as well as business survival rates and more, to assess which states offer the most opportunities for aspiring female entrepreneurs, determining Maryland ranks fourth among the states.

When comparing the 50 largest metro areas in the country across four metrics, Baltimore-Columbia-Towson ranked fifth for best small business sentiment.

According to Pitchbook, in 2023 Maryland companies raised nearly $3.4 billion in venture capital funds. Among the states Maryland ranked 8th for capital raised on a per capita basis & 10th overall.

Maryland ranks ninth overall and 11th per capita in SBIR awards. Small businesses in Maryland received $139.8 million from the U.S. Small Business Administration through the highly competitive SBIR Program, equating to $29.32 per capita.

Business Insider put Baltimore among its list of the 20 best cities for starting a business.