The Charles County Economic Development Department (EDD) proudly shares the impactful results of its recent Economic Impact Survey conducted from the graduates of the Business Growth Advantage Program (BGAP). Launched in 2022, BGAP was developed to support growing businesses in Charles County, Maryland, and to address the challenges faced by local entrepreneurs during the COVID-19 pandemic. The survey reveals that BGAP has significantly contributed to the local economy by driving job creation, increasing revenue growth, and accessing new business growth opportunities for participants.
"We are thrilled to see BGAP’s tangible impact on job creation, revenue growth, and business expansion," said EDD Director, Kelly Robertson-Slagle. "These results reflect our commitment to empowering local entrepreneurs and ensuring their long-term success, which benefits the economic vitality of Charles County. We’re excited to continue building on BGAP’s success to help more businesses achieve their goals.”
The survey, which gathered insights from over 100 BGAP graduates, highlights the program's achievements and its pivotal role in supporting small business and local entrepreneurs.
Key outcomes include:
- Job Creation:
BGAP participants have actively contributed to the county’s workforce, with 48% of respondents creating full-time or part-time jobs. Of these, 30.63% added 1-2 full-time positions, while 56.36% reported adding 1-2 part-time positions. - Revenue Growth:
BGAP has equipped participants with critical tools to drive business growth. An impressive 73.15% of respondents reported an increase in revenue since completing the program. Among them, 44.44% experienced a 0-10% revenue increase, with others reporting growth up to 50% or more—underscoring the program’s impact on supporting sustainable financial success. - New Business Opportunities:
More than 66% of participants gained new business opportunities through BGAP training and mentorship, highlighting the program's role in enhancing market access and fostering collaboration among local businesses. - Business Resilience and Expansion:
BGAP’s emphasis on leadership development, wellness, and sustainable growth has strengthened participants’ ability to expand and sustain their businesses effectively. The program’s resources and mentorship have enhanced resilience within Charles County’s entrepreneurial community.
Advancing Charles County's Economic Vision
BGAP exemplifies the Charles County EDD's mission to foster a dynamic small business community. By combining financial support, targeted training, and mentorship, the program has contributed to building a more robust and resilient business ecosystem in Charles County.
Since its inception, BGAP has supported 11 cohorts, graduated 151 local businesses, and disbursed $1.4 million in grant funding to assist with working capital needs. While the program has officially concluded, it remains a testament to the transformative impact of investing in local businesses.
"We extend our heartfelt gratitude to the participants of BGAP for their dedication, resilience, and commitment to growing their businesses in Charles County,” said Robertson-Slagle. “Their hard work and determination are at the heart of this program's success. Additionally, we thank our outstanding Economic Development team for their dedication in managing BGAP and ensuring its success. Their tireless efforts and unwavering support have made a lasting impact on our local business community."
About BGAP
The Business Growth Advantage Program (BGAP) was an initiative of the Charles County Economic Development Department designed to empower small, minority, women, and veteran-owned businesses. Funded through American Rescue Plan Act (ARPA) dollars during the COVID-19 pandemic, the program provided participants with essential tools, mentorship, and resources to drive business growth, spark innovation, and contribute to Charles County’s vibrant economy.
"We are proud that the funding for the Business Growth Advantage Program came from ARPA,” said Commissioner President Reuben B. Collins. “These critical resources allowed us to address the challenges brought on by the COVID-19 pandemic and create meaningful opportunities for small businesses and entrepreneurs in Charles County. This investment underscores our commitment to fostering economic resilience and growth in our community."
For more information about the Charles County Economic Development Department and its programs, visit the EDD’s website at www.MeetCharlesCounty.com. Access the BGAP Economic Impact Report here.
