Latest news with #SSBCI
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
TEDCO Selects Collide Capital to Support Management and Investment of Allocated SSBCI Funding
Collide Capital becomes the third selected VCLP to support the next generation of technological innovation COLUMBIA, Md., July 17, 2025 /PRNewswire/ — TEDCO, Maryland's economic engine for technology companies, announces the selection of Collide Capital as one of the early-stage venture capital fund managers supporting the management and investment of up to $10 million in U.S. Department of Treasury State Small Business Credit Initiative (SSBCI) funding. 'TEDCO's commitment to creating opportunities aligns with our goals of ensuring capital goes to the most deserving applicants rather than the most privileged,' said Brian Hollins, co-founder and managing partner of Collide Capital. 'With this funding, we are excited to better support the Maryland entrepreneurial ecosystem and look forward to working with TEDCO to help the ecosystem flourish.' Collide Capital is a $66 million black-owned venture capital firm envisioning a world where capital is awarded to those who are best positioned to solve the next generation of global challenges. Through their work, the company seeks to guide founders on their journey by equipping them with resources, knowledge networks and hands-on support. To date, they have backed more than 50 founders, with over 80% identifying as Black, Latine, and/or female. Recently, TEDCO announced receiving an infusion of up to $50 million in funding from the SSBCI initiative. This funding supports recipients of TEDCO's Venture Funds, Seed Funds and Social Impact Funds—along with the $10 million earmarked for the Venture Capital Limited Partnership (VCLP) Equity program. Of this amount, funding has been allocated to 100KM Ventures, AIN Ventures and now Collide Capital. 'This allocation reflects TEDCO's continued commitment to supporting the growth of an inclusive and sustainable merit-based ecosystem across the state,' said TEDCO CEO, Troy LeMaile-Stovall. 'Through our collaboration with Collide Capital, we are hoping to expand our reach, support more underserved individuals, bridge gaps in the system and allow for innovative advancements.' For more information about the SSBCI VCLP funds, visit our website here. About TEDCOTEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at Media ContactTammi Thomas, Chief Development & Marketing Officer, TEDCO, tthomas@ Kalinyak, Associate Director, Marketing & Communications, TEDCO, rkalinyak@
Yahoo
17-04-2025
- Business
- Yahoo
Have a Money-Making Business Idea? The 3 Best (and 3 Worst) States for Success
Being your own boss, following your dreams, having a flexible schedule and being financially independent are just a few of the many reasons to start your own business. Find Out: Read Next: If you're thinking of becoming an entrepreneur, choosing the state to register your company in is an important decision. Where you start your business can have a big impact on your chances for success. If you're looking for a great place to register your new company, you'll want to take a look at these three states. At first glance, Wyoming might not seem like a great place to start a business, but it offers several important perks for those launching an LLC. Many online businesses can take advantage of the benefits because you don't need to live in Wyoming to register an LLC there. One major benefit is that Wyoming allows LLCs registered in the state to remain private and doesn't require business owners to list their names in public records. This anonymity protects you from unwanted attention, creditors and personal attacks from online communities. Learn More: Saving money on taxes means more revenue for your business, and South Dakota is a great place for this. It uses pass-through taxation, which means companies don't file tax returns because the revenue passes down to the owners, investors and shareholders of a company. Because only individuals pay their company's taxes, they aren't taxed twice. Traditional corporations that don't use pass-through taxation would need to pay taxes on their profits, and then individuals must pay taxes on their earnings as well. Starting a business usually requires a lot of funding, and there isn't a better place to get it than Utah. The State Small Business Credit Initiative (SSBCI) recently provided Utah's small business community with $23 million in U.S. Treasury funding. Adding to Utah's reputation as an excellent place to start a business is the fact that banks distributed $846.1 million in loans to Utah businesses with $1 million or less in 2022. Many factors can make a state a bad place for a startup, and these three states show what those are. When it comes to the worst states for starting a business, you can't overlook California. Between 2019 and mid-2024, over 200 businesses relocated from California to other states. This is more than double the number for New York, which has the second-most relocations. The number of regulations California has continued to impose is a big reason for this. The California Code of Regulations has over 400,000 restrictions as of 2023. Illinois is an expensive state to start a business in because of its high corporate tax rate. It is one of four states that levies a corporate income tax rate of 9% or above, coming in at 9.5%. With a tax rate this high, businesses end up with reduced profit margins and are less attractive to investors. The lack of capital can limit companies in hiring new employees or raising salaries. Out of all of the states, Washington has the lowest rate of business survival, with 75.12% of businesses surviving one year and only 42.75% lasting more than five years. One reason for this may stem from how expensive it is to pay employees. The statewide minimum wage in Washington is $16.28 per hour, which is the highest in the nation. More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most4 Affordable Car Brands You Won't Regret Buying in 2025How To Get the Most Value From Your Costco Membership in 20257 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Have a Money-Making Business Idea? The 3 Best (and 3 Worst) States for Success Sign in to access your portfolio
