Minority Business Vision
Whether you are looking to start or grow a business or need certification as a minority, veteran or women-owned business, there are several local and state resources available.
In 2016, the City of Frederick was named of the Most Diverse Cities in America (#8, WalletHub). By 2020, Maryland is predicted to be majority minority. With the fastest growing Asian and Hispanic population in Maryland, the Frederick County Minority Business Vision (MBV) was established in 2015 with the assistance of an initative advisory committee made of minority business owners and advocates.
The MBV holds monthly networking events geared towards helping minorities start a business and helping minority-owned businesses grow. Organizations like the Maryland Women’s Business Center, Golden Mile Alliance, Mid-Atlantic Hispanic Chamber of Commerce, Asian-American Center of Frederick and Centro Hispano de Frederick have also partnered with the Frederick County Office of Economic Development (OED), financial institutions and local colleges to create a spirit of diversity and entrepreneurship that is alive and well in Frederick County.
Frederick County Future Minority Business Leaders Program
OED has created a program that aims to inspire, develop and grow future minority business leaders of Frederick County. Participants of this eight month program spend two hours a day on Friday mornings in classes such as: leadership traits, funding sources, marketing, hiring issues, making connections in the community and more. For more information about the program, please download an information sheet.
2017 Minority Business Vision Networking Events
Third Thursday of Every Month
These events are held at Mount St. Mary’s University-Frederick Campus, 5350 Spectrum Dr, Frederick, MD 21703 from 5pm to 7pm. Events include experts on topics such as networking, banking, workshops and more. Contact us to register or learn more.
Frederick County Minority-Owned Business Stats
- 68.9% increase in Asian-owned businesses
- 25.6% increase in Hispanic-owned businesses
- 8.2% increase in Women-owned businesses
- 5.6% increase in Black or African American-owned businesses
Source: U.S. Census Bureau, 2012 Survey of Business Owners, 2007-2012 data
Maryland Minority-Owned Business Programs
- The Governor’s Office of Minority Affairs (GOMA) connects small, minority- and women-owned businesses to State contracting and procurement opportunities through the Minority Business Enterprise (MBE) and Small Business Reserve (SBR) programs.
- The Small, Minority and Women-Owned Business Account-Video Lottery Terminal Fund (VLT) provides 1.5% of the proceeds from video lottery terminals (slots) to be distributed in targeted areas surrounding five Maryland casinos. The other 50% will be available to small, minority and women owned businesses located throughout Maryland. Eligible fund managers oversee the distribution of video lottery terminal funds.
- The Maryland Small Business Development Financing Authority (MSBDFA) promotes the viability and expansion of businesses owned by economically and socially disadvantaged entrepreneurs.
Frederick County Minority-Owned Business Directory
OED has created a Frederick County Minority-Owned Business Directory. Please contact us for more information.