Located near the nation’s capital, Maryland benefits from government sponsored enterprises in the defense, aeronautical and bio-research industries. Yet, its economy is diverse, with a flourishing private sector. Maryland is a major hub for biotechnology, life sciences, food production and manufacturing.

Statistics indicate that Maryland is a fine place to start a business. With a median household income of $75,847 (2015), it is considered the richest state in the U.S. Marylanders’ large amount of disposable income available on average raises the likelihood that a service business, such as restaurant or specializing in one of the trades (plumbing, home remodeling), will survive and thrive.

The combination of a highly skilled, handsomely paid workforce and a varied economy provides myriad opportunities for prospective entrepreneurs. Government also provides a leg up: in order to encourage growth and new business in the biotech sector, the Maryland Department of Commerce offers tax a 50% tax credit for investments in qualified companies.

MDBaltimoreAnne Arundel

Only cities with over 50,000 inhabitants are reported in the results. Some data had to be interpolated to the county level and extrapolated to all the cities in the county. We concentrated on the following metrics to obtain our ranking: Cost of livingBest state for businessUnemploymentKauffman index, and Universities.


I'm an entrepreneur myself. When talking to others who want to start their own business, they often get wrapped up in the nitty gritty of paperwork and forming the company. They forget that what really matters is customers, sales, and profit. That's why I created How to Start an a simple resource and guide so you can spend less time on forming your company, and more time on building it.

My lawyers want me to remind you that I'm not a lawyer and that I'm completely unqualified to offer legal advice. This site is meant to serve as a reference for you on your journey. If you have questions or concerns, please contact a qualified lawyer (or accountant) to help you. Also, as a general rule, never take random legal advice on the internet.