FOR IMMEDIATE RELEASE
CONTACT
smbadmedia@baltimorecity.gov
BALTIMORE, MD (Tuesday, February 25th, 2025) – Today, The Mayor’s Office of Small and Minority Business Advocacy & Development (SMBA&D) announced a new business initiative called Catalyst Baltimore. Catalyst Baltimore is a technical assistance program that supports minority and women-owned businesses in Baltimore City and the Baltimore City Market Area (Anne Arundel County, Howard County, Carroll County, Queen Anne’s County, and Harford County).
“We understand the challenges that small businesses face, and this initiative is a direct response to their needs,” said Mayor Brandon M. Scott. “Our business assistance program is designed to support these businesses, helping them grow and succeed. We aim to be a vital resource for small enterprises as they navigate their unique challenges and work toward prosperity.”
Catalyst Baltimore also provides coaching to increase expertise in areas such as accounting, marketing, cash flow management, human resource management, technology development, research & development (R&D), and government procurement.
“The Mayor’s Office of Small & Minority Business Advocacy & Development and the Scott Administration recognize that our local small businesses need our support. This program is in direct response to the stated needs of the business community,” said Christopher R. Lundy, Esq., Director of SMBA&D. “Due to competing priorities, they are not in position to prioritize their needs for technical assistance. Catalyst Baltimore will provide technical assistance to increase their expertise and will serve as the catalyst for these businesses to grow.”
This is the second go-round for the program – the previous program was run through the CARES Act under the Minority Business Development Agency (MBDA) in 2023. During that time, 141 businesses applied, and 41 clients were selected. The average grant sizes awarded to help those clients receive assistance and coaching were between $4500-$15,000. 25 of the 41 clients were women-led companies.
“We are excited to bring Catalyst Baltimore to the small business community in the Baltimore City market area. Our goal is that businesses who participate in Catalyst Baltimore, with specific technical assistance, will be able to grow to the next level,” said Stephen Campbell, Deputy Director of SMBA&D. “This program is the logical next step in our advocacy for MBE’s, WBE’s and small businesses, highlighting our commitment to both investment and intentionality.”
ELIGIBILITY
Those interested in participating in the program can apply online, as applications are now open. To be eligible for the program, you must be:
- Minority-owned (under SBA definition) or women-owned in good standing
- Based in the state of Maryland
- Duly registered and in operation for at least 2 years, with clients and market share
- Annual revenues of at least $300,000
- Ability to provide in counterpart resources at least 10% to 25% (in cash) of the cost of the cost of services obtained
- Positioned for growth
- Ability to make a 2 to 3-month commitment to the program
PROGRAM PROCESS
- Fill out an online application (connected to Baltimore SourceLink) with financial income and tax records followed by an interview
- Action plan developed by resource provider, business owner, and/or program manager
- 2-3 months of training/coaching based on the plan
- Progress Report and Final Report
- Client Evaluation
Program participants are expected to be available six months after the program ends to provide feedback to SMBA&D regarding any impact on their business. The application deadline for the Catalyst Baltimore program is application is Friday, March 21st.