Empowering entrepreneurs fuels economic growth in Greater Washington

Business Journals

15-07-2025

Most people outside of Greater Washington define our region with grand federal buildings and the seat of government. But what if the real engine of economic growth is emerging elsewhere — inside converted warehouses, co-working spaces, bustling storefronts, and corporate campuses from Baltimore to Richmond. Here, the next generation of entrepreneurs is building the companies and jobs that will define our future, with leading employers making room for innovation, investment, and inclusive growth across the entire corridor that is shaping our economic identity.
Nearly 2.2 million people across the region are employed by small businesses, representing almost half of the entire workforce and accounting for 43% of annual payroll dollars in the Baltimore-D.C.-Richmond corridor. This data tells a clear story: the vitality of our regional economy goes hand in hand with the success of our small business community. Inc. Magazine recently illustrated this when it named 42 Washington D.C. businesses to its 2025 Best Workplaces list. As regional leaders, we hold a responsibility to help champion and facilitate its growth. If we don't double down on the entrepreneurs and small businesses driving our local economies, we risk missing out on inclusive growth, new industries, and job creation that lifts the entire region.
Our region's leading employers are committed to supporting the next generation of entrepreneurs. Representing diverse industry sectors, the Greater Washington Partnership's board of more than 30 CEO's and corporate executives from top employers like Deloitte, JPMorganChase, Amazon, Ampcus, Inc. and CareFirst are helping power our Next Level small business accelerator program, as well as program sponsors like Events DC and Kaiser Permanente — a program designed to help small businesses scale and thrive
Next Level is more than curriculum — it's access. Access to the very people who shape markets, direct procurement pipelines, and unlock growth capital in our region. Its centerpiece is a masterclass model that brings senior executives from some of the region's largest employers to the table with entrepreneurs over the course of the program. More than a workshop series, it's a direct connection to seasoned corporate decision-makers who control procurement pipelines and capital flows. Each class, the instructors dive into their specific company's approach to the topic, provide real-world examples, and connections between the cohort and board partners. For example, Deloitte kicked off the series with a session on business planning, while JPMorganChase led a class on financial management. Legal guidance came from Akin, and culture-building was covered by Exelon. Later sessions explored marketing with JBG Smith, sales strategies with Monumental Sports & Entertainment, and procurement and supply chain strategies co-taught by Clark Construction and Ampcus, Inc. These company-led discussions allowed entrepreneurs to both learn and network in the same session.
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The Next Level program culminates with a pitch competition that gives six standout businesses the chance to compete for a $25,000 prize and a tailored mentorship experience with members of the Greater Washington Partnership's board. Entrepreneurs walk away with insights into business planning, sales strategy, branding, and legal compliance — all taught by practitioners who manage these functions for billion-dollar organizations. Most importantly, they leave with relationships that can lead to real contracts, investments, and growth.
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The inaugural cohort of the Next Level program saw strong results, with 83% of participants reporting they felt better equipped to navigate RFPs and contracting opportunities. Three out of four gained a deeper understanding of how to market their businesses effectively, and many saw tangible benefits: 60% received referrals for contract opportunities and 33% were connected to potential funding sources.
Our 2025 Next Level participants represent a dynamic cross-section of small and emerging businesses from across the Greater Washington region, with particular strength in high- growth sectors including energy and environmental innovation, IT and healthcare technology, construction, and government contracting — all of which are key drivers of regional economic growth, underscoring the program's relevance across both traditional and emerging markets.
To date, over 150 relationships have been formed between the region's procurement executives and emerging entrepreneurs, strengthening the ecosystem for small business growth and opening the door to future business leads, mentorship, and long-term support. Investments like these are turning small business success into real economic impact across the region. In 2023 alone, small businesses were responsible for more than 90% of net new job creation in Maryland and over 80% in D.C. New business formation remains high. Applications to start likely-employer businesses in D.C., Maryland, and Virginia are up 23% compared to 2019, with Virginia seeing a 28% increase.
The work of our Next Level program advances our 10-year blueprint for regional growth — an action plan that treats small businesses as essential infrastructure for a future-ready economy, making the Baltimore-to-Richmond corridor a national model for innovation. Realizing this vision takes shared commitment. Public and private sector leaders are already making a difference, contributing their expertise and resources every day. Our call to action is simple: Entrepreneurs are ready. The infrastructure is in place