Maryland 2020 Snapshot | Early-Stage Entrepreneurship Entrepreneurship is important for job creation, innovation, and the economy. This brief provides a snapshot of various indicators related to early-stage entrepreneurial activity in Maryland. DOWNLOAD THE MARYLAND 2020 SNAPSHOT [PDF] RATE OF NEW ENTREPRENEURS How many people are becoming entrepreneurs? Since 2008, the rate of new entrepreneurs in Maryland has been below the national rate. In Maryland, the rate of new entrepreneurs in 2020 was 0.26%, meaning that 2.6 out of every 1,000 adults became new entrepreneurs, on average, in a given month. This compares to 0.34% nationally. VIEW MARYLAND DATA OPPORTUNITY SHARE OF NEW ENTREPRENEURS How many new entrepreneurs created their business out of opportunity? The opportunity share of new entrepreneurs was lower in Maryland compared to the rest of the nation in 2020. The opportunity share of new entrepreneurs was 79.3% in Maryland in 2020, compared to 80.9% nationally. VIEW MARYLAND DATA STARTUP EARLY JOB CREATION How many jobs are created by new businesses? Since 2003, the number of jobs created by startups in Maryland has been below the national level. There were 4.0 jobs created by startups per 1,000 people in Maryland in 2020, compared to 5.0 jobs created by startups at the national level. VIEW MARYLAND DATA STARTUP EARLY SURVIVAL RATE How many businesses survive their first year? Since 2001, the share of startups that survive at least one year has been lower in Maryland compared to the national level. In 2020, 76.7% of startups in Maryland survived at least one year, compared to 78.1% of startups at the national level. VIEW MARYLAND DATA