Originally published in the Baltimore Sun
Baltimore needs a more robust financing system to help small businesses grow and to attract new companies.
That’s the conclusion of a new report by Johns Hopkins University’s 21st Century Cities Initiative that evaluated access to venture capital funding and small business loans for startup companies and more established Main Street small businesses.
The report found that while the amount of venture capital flowing to startup companies in Baltimore has grown significantly in recent years, much of the money comes from far-flung investors. Lending for small businesses also has been on the rise, but still falls short of pre-recession levels.
Without access to the capital they need to grow, startups and small businesses may struggle to grow and could even be inclined to leave in search of stronger financial support.