Women started 58% of Maryland’s new businesses since 2019

Women accounted for 58% of new businesses established in Maryland since 2019, but the state’s women continued to trail men in labor-force participation, median wages and the share of firms owned, according to a report released by the Comptroller’s Office on Oct. 8.

The report presents a mixed picture of women’s economic standing: women-owned firms grew faster in number than men-owned firms, while comparisons of work and earnings show persistent gaps. Its findings cover Maryland businesses and workers, including Black Maryland workers.

Participation and wages remain lower for women

Labor-force participation was 65% for Maryland women age 16 and older, compared with 73% for men. Among people ages 25 to 64, participation was 81% for women and 89% for men.

The wage comparisons show that the difference persisted across the two education and age groups reported. For workers ages 25 to 64 with a bachelor’s degree or higher, the reported median annual wage gap was $21,000. For workers without a college degree, it was $14,000.

Women-owned firms grew, but remained a smaller share

Since 2019, the number of women-owned Maryland firms increased by 42,500, or 17%. Men-owned firms increased by 33,300, or 10%, over the same period. Despite the faster growth, women owned 42% of the state’s firms, compared with 53% owned by men, according to figures reported from the Comptroller’s study.

Women make up 51.6% of Maryland’s population and account for 80% of employment in health care and 67% in educational services, the Comptroller’s Office said. In 2024, Black women living in Maryland represented 21% of the state’s federal workforce while accounting for 15% of its population.

The report also described a rise in Maryland’s Black unemployment rate, from 3.3% at the beginning of 2024 to 7.5% by mid-2026. It put the national average at 7.2% and said Maryland’s rate ranked 12th highest among states with sufficiently large samples. The figures show a change over time; they do not establish what caused it.

The Comptroller’s Office said it held nine roundtable discussions with nearly 200 women while preparing the report. It identifies areas for policy consideration that include caregiving and workforce supports, equal pay and career advancement, access to capital and government contracts, career and technical education, and reemployment assistance. The report does not prescribe specific recommendations or establish a new program or policy.

The Comptroller’s Office has scheduled a public discussion for Oct. 19, 2026, at 2 p.m. in the Treasury Building Assembly Room in Annapolis.