Baltimore is among the fast-emerging cities in Maryland and has benefitted from Maryland’s status of among the top states in the country in terms of potential for economic growth. Being the largest city, Baltimore has become the hub for businesses, big and small over the years. As a matter of fact, there are lots of businesses and entrepreneurs in the city who have been very successful in managing their businesses, making it grow in just a couple of years.
One good proof of businesses in the city being recognized and popular is when they included in Inc.500 list. Zoë Henry of Inc.500 listed the top fastest-growing private companies in Baltimore. These are awesome companies that have brought opportunities for employment in Charm City.
Breakneck Growth in Charm City: Top 10, Private Companies in Baltimore
Image Credit: GettyImage
With services ranging from mobile apps to dentistry, meet the fast-growth companies in this underrated American business hub.
Baltimore touts more than the likes of Ira Glass and Gossip Girl’s Penn Badgley: It’s also home to 57 companies on this year’s Inc. 5000. At the turn of the century, Charm City was the leading U.S. manufacturer of rye whiskey and straw hats. Today, the area’s fastest-growing private businesses specialize in everything from IT to Advertising, Health and more.
With multiple companies making their second, third, and fourth appearances on Inc.’s list this year, Baltimore’s top 10 are as diverse as the city itself. Here’s a listing of the 2014 fastest-growing businesses in this charming metropolis:
10. Ram Supply Company
Catering to businesses large and small, Ram Supply has seen impressive growth between the 2010 and 2013 fiscal years. With only 12 total employees as of 2013, the company distributes supplies for the restaurant, hospitality, facilities maintenance and packaging industries. Ram Supply was founded back in 1980, and under the leadership of current CEO Martin Manescu. Its annual revenue has grown by nearly 70 percent over the last three yearsto $2.6 million, making it No. 4,171 on the Inc. 5000.
9. DC Dental
The sole health industry company on the Baltimore top 10, DC Dental makes its fourth appearance on the Inc. 5000, this time clocking in at No. 3,157. A dental supplier with the ethos of helping doctors “Practice Savvy,” the company has more than doubled its annual revenue between 2010 and 2013, from $20.5 to $43.3 million. With 95 employees as of 2013, CEO David Charnowitz says the comapny is able to serve dentists all across the Eastern seaboard.
8. Planit
This ad firm not only serves business juggernauts–such as Under Armour, National Public Radio, Marriott International and more–it’s also fast-becoming a major business itself. Founded back in 1994, Planit has grown its annual revenue by more than 112 percent, from just $5.4 million to $11.5 million between fiscal years 2010 and 2013. Its premise: To break up the traditional corporate structure into three departments, in order to better serve clients. The work appears to be paying off. This year marks Planit’s third appearance on the Inc. 5000 at No. 3,145, under the leadership of CEO Matt Doud.
7. Groove Commerce
This boutique, e-commerce agency provides web design, development and marketing for a variety of clients. Founded back in 2007, this year was Groove Commerce’s second time on the Inc. 5000. The company’s revenue grew by 124 percent between 2010 and 2013–landing Groove at No. 2,928 on the overall list. With just 30 employees as of 2013, the company has come far since CEO Ethan Giffin founded the company in 2007.
6. EdgeWebHosting
As its name suggests, the sixth-fastest growing, private company in Baltimore provides Web hosting services for a variety of American businesses. Operating under the slogan “Stay up. Sleep more,” EdgeWeb makes its fourth appearance on the Inc. 5000. This year, landing at No. 2,849 on the overall list, the 16-year-old company grew its annual revenue from just $5.4 million to $12.3 million between fiscal years 2010 and 2013. Under the leadership of CEO Vlad Friedman, EdgeWeb is just one of a handful of IT companies based in Baltimore. See full post here…
These are indeed fast-growing companies in Baltimore that achieved a solid reputation in the past years from their loyal customers. Another thing worth mentioning is that these businesses are from different niches, which means that a diverse list of businesses is booming in Baltimore City.
There is still a list of cool businesses found in Baltimore. Michael Horrocks compiled the names of coolest businesses in Baltimore and posted it at Expert Market.
Coolest Businesses in Baltimore
Baltimore is a great city. There’s amazing food (who doesn’t like pit beef and crabcakes?), awesome culture and some super-interesting people. It is the city that gave us Avon Barksdale and Stringer Bell after all.
There are some great Businesses in Baltimore too. There’s a lot of innovation going on in the city, and many of its companies are leading the way in their respective fields. We’ve spent the last few months researching Balitmore’s coolest businesses for the list you see below.
STX
Did you know that one of the world’s largest manufacturers of lacrosse equipment is from Baltimore? STX make other sports equipment too, but lacrosse is their biggest market. It’s Maryland’s official state sport, so Baltimore is the perfect home for STX.
Lacrosse might not be a mainstream American sport but it’s becoming more and more popular all the time, particularly at grass roots level. Statistics from the National Federation of State High School Associations show that participation in US schools grew by 528% in the period between 1990 and 2008. The industry is now worth more than $70 million dollars and STX is claiming a healthy share.
Everything about STX as a brand is cool. Spend five minutes on their website and you’ll want your own stick, even if you’ve never played lacrosse before.
They’re also extremely active on Social Media. They enjoy great engagement on Facebook, Twitter and Instagram and manage to present a consistent message across all platforms, which is something a lot of brands struggle to do.
STX’s #PlayHuge hashtag is cool too. An official hashtag is something most major sports brands have tried to establish (notably Nike with #MakeItCount and Adidas with #allin) but few have hit on something as catchy and brand relevant as STX.
Tenable Network Security
Image Source: Focus by Expert Market
Tenable Network Security is one of the most trusted businesses in the United States and around the world. It is a cyber-security company that has changed the way businesses protect their computer networks forever.
Tenable’s most famous product is Nessus, a vulnerability scanner widely considered to be the best on the market. The figures speak for themselves. Nessus has over one million users around the world, a list that includes some of the largest and most complex enterprise networks.
The Tenable Security Center has an impressive list of users as well, including the U.S. Department of Defense and a number of Fortune 500 companies. Quality runs through everything Tenable does, and it’s great for Baltimore to have them in the area.
Key Information:
Founded: 2002
Founded By: Ron Gula, Jack Huffard, Renaud Deraison
Tenable has a great working environment and is listed by The Baltimore Sun and the Baltimore Business Journal as one of the best companies to work for in the area. A lot is invested into keeping staff happy, and the company has put together a fantastic benefits package.
Every Tenable employee gets a minimum 20 business days off work in addition to nine paid holidays and two floating holidays. The healthcare package is comprehensive,including dental and vision, and the company has a life insurance policy too.
Tenable’s tuition reimbursement enables employees to spend more than $5,000 each year on job-related classes and training. For people looking for a creative working environment, and a chance to learn new skills and develop their career Tenable is a great place to be. Click here to read the rest of this post…
There are quite a number of large businesses in Baltimore, and an overwhelming majority of them experienced huge success in the city. But it doesn’t mean that small businesses don’t have the same opportunity and competition. As a matter of fact, it is the other way around. Small businesses are highly encouraged in the city to make the even livelier and progressive.
Adam C. Uzialko recently wrote an article in Business News Daily describing the current state of small business in Maryland and Baltimore. Read the article below if you plan on opening one in Charm City.
The State of Small Business: Maryland
Image Source: Business News Daily
Maryland’s entrepreneurs might have to face high taxes and an elevated cost of living, but their sunny dispositions make clear that the Old Line State is home to plenty of opportunity. Many small businesses have been able to find success in Maryland due to its proximity to Washington, D.C., which adds another large market and the possibility of federal contracts to the list of benefits for entrepreneurs. Community support in the form of loyal customers, funding programs and grant opportunities is also substantial.
Moreover, Maryland’s high per capita personal income offsets the expensive cost of living in the state. Currently, the state’s labor market looks particularly strong, meaning business owners are typically able to find the right person to fill their open positions. The small business owners and professionals who spoke with Business News Daily emphasized their enthusiasm for operating in Maryland. We took a closer look at why they’re so optimistic.
Opportunities Proximity to D.C.
Maryland’s proximity to Washington, D.C., opens up the possibility for small businesses to pursue plenty of federal government contracts.
“In 1996, I started a Frederick, Maryland, [aerospace and intelligence] company named Sycamore,” said Kurt Heckman, president of customizable calculator website vCalc. “During that time, it definitely helped being in Maryland with its proximity to the federal government marketplace.”
Heckman was able to leverage Sycamore’s success, due in part to its access to D.C., into a $30 million sale. He used that capital to design and launch vCalc, which is also based in Maryland.
Other entrepreneurs have found success after launching directly in D.C. Founded in the nation’s capital in 2012, &pizza is a “fast casual” pizza chain, which now has additional locations in Bethesda, Maryland, as well as in Virginia.
“The District of Columbia is a great place to own a small business right now,” said &pizza CEO and co-founder Michael Lastoria. “Given the recent rapid and continuous development happening in the city, there are endless opportunities.”
Community support
Entrepreneurs also reported reliable community support in Maryland. They generally can rely on a loyal base of “buy local” customers, and there are a number of local and state programs, as well as grant opportunities, to pursue.
“Maryland has been good to vCalc,” Heckman said.”Because we are a Maryland-based company, we were able to apply for and win two Maryland Industrial Partnership (MIPS) grants — one for $100,000 with Frostburg MD, and one for $100,000 with St. Mary’s [College of Maryland]. In both cases, the grant money goes to the schools to do development work for vCalc.”
“Local government has also been incredibly supportive, seeking new ways … to encourage startups and small businesses to plant their flag here,” Lastoria said. “We’ve been particularly supportive of ‘Made in D.C.,’ a collaboration between local makers and producers and the D.C. Department of Small and Local Business Development.” See full post here…
With its prime location and opportunities for businesses (both large and small) to grow, Baltimore is certainly a good place to start your journey towards becoming a successful businessman. All you have to do is start with an idea, something you love to do or your passion – and turn it into business. Study the market and work your way up.
If you plan on starting your business in Baltimore but you don’t have enough capital to start one, sell your house fast now. We at Dependable Homebuyers are here to help you sell your house fast and easy. Visit us on https://www.dependablehomebuyers.com and let’s get started.
Dependable Homebuyers
1402 Belt St, Baltimore, MD 21230
(443) 266-6247
