ANNAPOLIS, MD—Governor Wes Moore announced today a major expansion of Maryland’s Veteran-Owned Small Business Enterprise Program, increasing its participation goal from 1% to 3%. The change, effective immediately, reflects the state’s commitment to supporting veteran entrepreneurs, according to the Governor’s Office of Small, Minority, and Women Business Affairs.
“The military teaches you not just how to serve, but also how to lead,” said Governor Moore. “Our veteran entrepreneurs are mission-driven, hard-charging, and deeply committed to making Maryland better. We have an obligation to answer their service with our support. Today, we take a critical step forward in our ongoing mission to build new pathways to wealth creation for Maryland veterans and military families.”
The Veteran-Owned Small Business Enterprise (VSBE) Program was created in 2010 to increase opportunities for veteran-owned small businesses in state-funded contracts. The Governor’s Office of Small, Minority, and Women Business Affairs oversees the program across 51 state agencies and departments, ensuring that veteran-owned businesses have access to state procurement opportunities.
Recent data indicates significant growth in the program, with a 41% increase in certified veteran-owned vendors over the past fiscal year. There are now more than 900 certified companies participating in the program, reflecting a growing number of veteran entrepreneurs seeking to engage in state-funded projects.
The decision to increase the participation goal was influenced by recommendations from the Veteran-Owned Small Business Enterprise Advisory Committee. This committee, led by Special Secretary Y. Maria Martinez of the Governor’s Office of Small, Minority, and Women Business Affairs, advocated for the change to bring Maryland’s goals in line with neighboring states. Goals for veteran participation are determined on a contract-by-contract basis, and only the work of certified veteran-owned businesses, either as prime contractors or subcontractors, will count toward fulfilling these goals.
“Our veteran community is actively engaged in the growth and development of the state’s VSBE Program,” said Special Secretary Martinez. “The support and guidance we receive from the members of the VSBE Advisory Committee has been invaluable and inspiring.”
Dobbs Defense Solutions President and Chief Executive Officer Erica Dobbs, who also serves on the VSBE Advisory Committee, applauded the state’s decision to increase the participation goal. Dobbs, named SBA’s 2024 Veteran Business Owner of the Year, emphasized the importance of this change for the veteran business community.
“Raising the VSBE goal to 3% will unlock new opportunities for veteran-owned businesses, fostering innovation and prosperity,” Dobbs said. “I believe this aligns perfectly with the governor’s ‘Year for Military Families’ initiative, significantly enhancing Maryland’s support for veteran entrepreneurs and promoting a more inclusive business landscape.”
The increase in the VSBE goal comes as part of Governor Moore’s broader efforts to support military families and veterans in Maryland. As part of his administration’s focus on economic opportunity and inclusion, the governor has emphasized the role of veterans in the state’s economic future.
The VSBE Program offers veteran entrepreneurs the chance to compete for state contracts and subcontracts, providing a valuable pathway to growth and development for small businesses. By increasing the participation goal, Maryland aims to create more opportunities for veterans to contribute to the state’s economy.
Veteran-owned businesses interested in participating in the program can learn more by visiting goMDsmallbiz.maryland.gov.
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