The Tri-County area is facing unprecedented demographic changes resulting in increased community diversity and entrepreneurial opportunities. The growth in the region is increasing the demand for a new array of goods and services addressing the needs and interests of a more diverse community.

Additionally, the Governor’s commitment to support small businesses, combined with changes in local contracting demands due to BRAC (Base Realignment and Closure) and the consolidation of larger companies is forcing small businesses to become more competitive in their service offerings, marketing plans and capabilities. In short, time is of the essence for minority/women owned businesses to position themselves to benefit from the opportunities present within the Southern Maryland and surrounding areas. Thus, these businesses require support developing their capacity and accessing opportunities.

"Leveraging partnerships are keys to bringing business resources into the Southern Maryland region. The Tri-County Council's (TCC) Regional Director of Economic Development, the TCC's Minority Business Opportunities Task Force, and stakeholders in the Southern MD region will take the results of the report to maximize and provide tools to assist small, minority, and women owned businesses build capacity to take advantage of the business and economic development projects coming to Southern Maryland. Planning and information are what small business owners need to be successful. Success means winning contracts, growing their customer base, and ultimately providing jobs in the local community." Dawn Tucker, President Calvert County Minority Business Alliance.

Milligan & Company, LLC in partnership with BITHGroup Technologies was engaged by the Tri-County Council of Southern Maryland to collect and analyze minority/women owned firm data, build a web based tool to support the County’s outreach efforts and provide recommendations for a sustainability and capacity building initiative.

The outcome findings identified through the survey responses, stakeholder engagement, secondary research, and general business development knowledge are:

• Minority/women owned firms lack certification and/or business registration. Of the businesses that responded to the survey, 41 percent do not maintain minority certification status.
• Under representation of minority/women owned firms due to businesses operating “under the radar.”
• Firms unable to compete because of an inability to adequately market and position their service offerings. Survey results identified that 37 percent of the businesses require market/new business development assistance and 66 percent reported a need to focus on revenue growth.
• Many firms reported limited financial expertise and access to capital.
• There is a need for business capacity building. Of the businesses that responded to the survey, 22 percent plan to focus on talent and operational issues.

"The report confirms what we in Charles County have experienced with our rapidly growing minority business community. Our challenge is identifying resources that will assist these businesses and help them grow. The formula for success is having the data we need to target these resources. The TCC has done a great job in gathering the data," said Jeff Nixon, Minority Business Enterprise Chief, Charles County.

Copies of the report may be downloaded from the Council’s website at www.tccsmd.org under the Economic Development/Economic Diversity section. Reference Article