Maryland Expands VSBE Participation Goal

VSBE stands for Veteran-Owned Small Business Enterprise.

Source : State of Maryland

October 11, 2024

Author : Patty Allen

Governor Wes Moore of Maryland has announced an important update to the Veteran-Owned Small Business Enterprise (VSBE) Program, raising the participation goal from 1% to 3%, effective immediately. 

This increase aims to create more opportunities for veteran entrepreneurs to participate in state-funded contracts. The VSBE Program was established in 2010 to support veteran-owned small businesses, allowing them to compete for government contracts. Currently, over 900 veteran-owned companies are certified in the program, with a significant 41% increase in certified vendors over the past fiscal year.

Governor Moore highlighted the leadership and dedication of veteran entrepreneurs, stating, “The military teaches you not just how to serve, but also how to lead.” He emphasized that this initiative is a critical step in building pathways to wealth for veterans and their families in Maryland.

Special Secretary Y. Maria Martinez, who oversees the program, noted the invaluable support from the VSBE Advisory Committee in pushing for this goal. Erica Dobbs, President and CEO of Dobbs Defense Solutions and a member of the advisory committee, expressed her support for the increase, stating, “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.”

This change is expected to foster innovation and economic growth, making Maryland’s business landscape more inclusive for veteran-owned businesses. For more details about the VSBE Program, visit the official Maryland small business website at goMDsmallbiz.maryland.gov.

Category : Disabled Veteran Businesses Veteran Business State Government

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