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MARYLAND Small Businesses Small Business Employees 581,712 1.1 (MBDA)

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fewer than 20
20 to 99
100 to 499
more than 500
0.0
500.0K
1.0M
1.5M
2.0M
2000 2005 2010 2015
MARYLAND
581,712
Small Businesses
1.1 million
Small Business Employees
99.5%
of Maryland Businesses
50.2%
of Maryland Employees
EMPLOYMENT
21,356
net new jobs
DIVERSITY
203,326
minority-owned
businesses
TRADE
5,715
small business
exporters
OVERALL MARYLAND ECONOMY
•
In the third quarter of 2017, Maryland grew at an annual rate of 2.6%, which was slower than the overall US growth rate of
3.4%. Maryland’s 2016 growth rate of 2.5% was up from the 2015 rate of 1.9%. (Source: BEA)
•
In January 2018, the unemployment rate was 4.1%, down from 4.3% in January 2017. This was equal to the January 2018
national unemployment rate of 4.1%. (Source: CPS)
EMPLOYMENT
Figure 1: Maryland Employment by Business Size
(Employees)
•
Maryland small businesses employed 1.1 million people, or
50.2% of the private workforce, in 2015. (Source: SUSB)
•
Firms with fewer than 100 employees have the largest share
of small business employment. Figure 1 provides further
details on firms with employees. (Source: SUSB)
•
Private-sector employment increased 0.7% during the 12-
month period ending in January 2018. This was below the
increase of 1.7% during the prior 12-month period. (Source:
CPS)
•
The number of proprietors increased in 2016 by 2.5% rela-
tive to the previous year. (Source: BEA)
•
Small businesses created 21,356 net jobs in 2015. Firms
employing fewer than 20 employees experienced the largest
gains, adding 13,864 net jobs. The smallest gains were in
firms employing 20 to 99 employees, which added 1,689
net jobs. (Source: SUSB)
The Small Business Profiles are produced by the US Small Business Administration’s Office of Advocacy. Each report incorporates the most up-to-date
government data to present a unique snapshot of small businesses. Small businesses are defined for this profile as firms employing fewer than 500
employees. Net small business job change, minority small business ownership, and exporter share statistics are based on the 2015 Statistics of US
Businesses (SUSB), 2012 Survey of Business Owners (SBO), and 2015 International Trade Administration (ITA) data, respectively.
SBA Office of Advocacy 85 Maryland Small Business Profile, 2018
INCOME AND FINANCE
• The number of banks decreased by 3 between June 2016 and June 2017 to 54 banks. (Source: FDIC)
•
In 2016, 106,161 loans under $100,000 (valued at $1.5 billion) were issued by Maryland lending institutions reporting under
the Community Reinvestment Act. (Source: FFIEC)
•
The median income for individuals self-employed at their own incorporated businesses was $53,626 in 2016. For individuals
self-employed at their own unincorporated firms, this figure was $26,691. (Source: ACS)
Median income represents earnings from all sources. Unincorporated self-employment income includes unpaid family workers, a very small percent of
the unincorporated self-employed.
EMPLOYER BUSINESS OWNER DEMOGRAPHICS
Figure 2: Maryland Employees per Business by Owner’s Demographic, 2015
Male
F
emale
Nonminor
ity
Minor
ity
Non
veteran
V
eteran
Some
other race
Nativ
e American-Alaskan
Hispanic
Ha
waiian-Pacific Islander
Asian
Afr
ican American
All
Firms
0 2 4 6 8 10 12
Figure 2 shows the average number of employees per employer business by owner’s demographic group according to the Annual Survey of Entrepreneurs
(ASE). Unshaded bars display US values; data were withheld because they do not meet Census Bureau publication standards or could disclose
information regarding individual businesses.
TURNOVER AMONG ESTABLISHMENTS WITH EMPLOYEES
Figure 3: Maryland Quarterly Startups and Exits
3,000
3,200
3,400
3,600
3,800
4,000
1995 2000 2005 2010 2015
startups exits
•
In the third quarter of 2016, 3,703 establishments started
up, generating 12,809 new jobs in Maryland. Startups are
counted when business establishments hire at least one
employee for the first time. (Source: BDM)
•
In the same period, 3,889 establishments exited resulting
in 12,955 jobs lost. Exits occur when establishments go
from having at least one employee to having none, and then
remain closed for at least one year. (Source: BDM)
•
Figure 3 displays quarterly startups and exits from 1992 to
2016. Each series is smoothed across multiple quarters to
highlight long-run trends. (Source: BDM)
The BLS data covers only business establishments with employees. BLS
refers to startups as births and exits as deaths. These terms are distinct
from the BLS openings and closings categories. Openings include sea-
sonal re-openings and closings include seasonal shutterings. Quarterly
startup and exit values may not align with Figure 3 due to smoothing.
SBA Office of Advocacy 86 Maryland Small Business Profile, 2018
INTERNATIONAL TRADE
•
A total of 6,528 companies exported goods from Maryland in 2015. Of these, 5,715, or 87.5%, were small firms; they
generated 29.6% of Maryland’s $9.1 billion in total exports. (Source: ITA)
SMALL BUSINESS EMPLOYMENT BY INDUSTRY AND COUNTY
Table 1: Maryland Employment by Industry, 2015
Industry Small Business Total Private Small Business
Employment Employment Employment Share
Health Care and Social Assistance 167,343 366,774 45.6
Professional, Scientific, and Technical Services 145,712 273,594 53.3
Accommodation and Food Services 135,909 220,945 61.5
Construction 123,103 143,706 85.7
Other Services (except Public Administration) 98,449 114,523 86.0
Retail Trade 95,066 290,304 32.7
Administrative, Support, and Waste Management 86,135 191,693 44.9
Wholesale Trade 49,964 87,739 56.9
Manufacturing 46,151 97,575 47.3
Educational Services 36,534 82,558 44.3
Finance and Insurance 35,534 100,070 35.5
Real Estate and Rental and Leasing 27,604 44,031 62.7
Transportation and Warehousing 25,319 69,414 36.5
Arts, Entertainment, and Recreation 24,136 42,519 56.8
Information 16,888 50,918 33.2
Management of Companies and Enterprises 8,051 51,252 15.7
Agriculture, Forestry, and Fishing and Hunting 768 1,253 61.3
Mining, Quarrying, and Oil and Gas Extraction 702 1,077 65.2
Utilities 697 9,515 7.3
Industries not classified 357 357 100.0
Total 1,124,422 2,239,817 50.2
Figure 4: Maryland Small Business Employment by County, 2015
Small Business Employment (%)
38
to 51
51
to 56
56
to 62
62
to 74
SBA Office of Advocacy 87 Maryland Small Business Profile, 2018
SMALL BUSINESSES BY INDUSTRY
Table 2: Maryland Small Businesses by Industry and Firm Size, 2015
Industry
1-499 Employees
1-20 Employees Nonemployer
Total Small Firms
Firms
Professional, Scientific, and Technical Services 17,733 15,843 77,143 94,876
Construction 13,736 12,249 41,705 55,441
Other Services (except Public Administration) 12,656 11,522 63,924 76,580
Health Care and Social Assistance 12,091 10,420 52,135 64,226
Retail Trade 10,934 9,860 33,041 43,975
Accommodation and Food Services 8,994 6,884 7,468 16,462
Administrative, Support, and Waste Management 6,864 5,837 38,484 45,348
Real Estate and Rental and Leasing 4,334 3,947 49,092 53,426
Wholesale Trade 4,263 3,396 5,727 9,990
Finance and Insurance 3,863 3,444 11,621 15,484
Transportation and Warehousing 2,875 2,456 34,642 37,517
Manufacturing 2,624 2,011 4,559 7,183
Educational Services 1,904 1,472 17,792 19,696
Arts, Entertainment, and Recreation 1,835 1,516 27,711 29,546
Information 1,204 981 6,619 7,823
Agriculture, Forestry, and Fishing and Hunting 191 183 3,265 3,456
Mining, Quarrying, and Oil and Gas Extraction 51 37 89 140
Utilities 37 27 501 538
Total 106,194 92,411 475,518 581,712
Figure 4 and Tables 1 and 2 display data from the 2015 SUSB. Table 2 includes additional data from the 2015 Nonemployer Statistics (NES).
REFERENCES
The Small Business Profiles, source data, and methodology are available at https://go.usa.gov/xQT4w.
ASE Annual Survey of Entrepreneurs, US Census Bureau
BEA Bureau of Economic Analysis, US Department of Commerce
BDM Business Employment Dynamics, BLS
BLS Bureau of Labor Statistics, US Department of Labor
CPS Current Population Survey, BLS
FDIC Call Reports, Federal Deposit Insurance Corporation
FFIEC Federal Financial Institutions Examination Council
ITA International Trade Administration, US Department of Commerce
NES Nonemployer Statistics, US Census Bureau
SBO Survey of Business Owners, US Census Bureau
SUSB Statistics of US Businesses, US Census Bureau
SBA Office of Advocacy 88 Maryland Small Business Profile, 2018
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