JIMMY H. RHEE, Maryland Special Secretary of Small, Minority, & Women Business Affairs, broadcasted from Shulman Rogers partner Nancy Regelin’s porch, on Entrepreneurship in Difficult Times.
Jimmy Rhee discussed how the entrepreneurial spirit is resilient because it is based on passion and hard work. Times of struggle are difficult but often result in transformative change to business. That is what they are seeing across the state right now.
At times like these, Business needs to find a prevalent pain point in the market, that is intensifying, has an urgent need to be resolved, if unaddressed will cost more later, and is recurring. Then set out to provide the solution. The State is seeing businesses pivoting to address new pain points.
He recommends that Business not ignore legislation and regulations that cause pain points. It is important for small business to understand how government policies affect them – which is something big businesses pay a lot of attention to. Government policies bring opportunities and small business should focus on them and also work to influence policies by educating their legislators and the administration in order to provide more opportunities for their industry.
In Maryland 65% of small businesses are women or minority owned. Many struggle with the same issues – challenges to corporate competency, access to capital, and government regulations and policies. The State has resources and partners that can assist with these issues that are posted online.
Jimmy Rhee welcomes input from the small business community on government policies that would help them, as business moves forward in 2020.
Office of Small, Minority, & Women Business Affairs
100 Community Place, 3rd floor, Crownsville, MD 21032
(410) 697-9600; 1-877-558-0998 (toll free); tty: (410) 333-3098
Safety note: A sheet of acrylic hanging from the ceiling between the chairs provides physical separation for Jimmy Rhee and his interviewer, Eric Regelin, Chair of ABC Chesapeake Shores.
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