November 18th, 2024 by WCBC Radio

Maryland has been named the number one state for minority-owned businesses, according to a recent analysis by Lending Tree. The state earned top 10 rankings in three Lending Tree metrics, including percentage of minority-owned businesses in the state; the ratio of pay relative to all businesses; and the longevity of business operations. This ranking comes on the heels of the Maryland Department of Commerce’s announcement that its Small, Minority and Women-Owned Business Account supported more than 170 businesses in Fiscal Year 2024. The program provided $21.3 million in financial support, helped retain 1,866 jobs and created 732 new jobs, and leveraged $16.4 million in private sector capital throughout Maryland.