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Supporting Local Business

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Small Businesses are the backbone of the Maine economy. They make up over 99% of Maine businesses and employ over half of the state’s workforce. Legislators play a crucial role in strengthening this sector by improving access to capital, reducing regulatory burdens, and supporting workforce and infrastructure development.

While prices are climbing, our small businesses are struggling to make ends meet. Small businesses are owned by our neighbors and we keep working to help our own economy to grow and be resilient. Doing this will help younger folks living here and raising their families to be able to find some comfort in living.

Why Small Business is Essential in Maine
 

  • They make up 99.2% of all Maine businesses.

  • They employ 290,518 people, representing 54.5% of all Maine employees.

  • They drive job creation: small businesses contributed 98.5% of net new jobs between 2023–2024.

  • They support rural communities, local supply chains, and Maine’s identity — especially in tourism, fishing, agriculture, trades, and professional services.

  • They help stabilize the economy by circulating money locally and fostering entrepreneurship.
     

Source: U.S. Small Business Administration Office of Advocacy

Why Small Business Matters Even More in Maine

Maine’s economy is heavily rural and community-based. Small businesses keep towns vibrant, provide essential services, and create opportunities where large employers may be scarce. They also help buffer the state against economic shocks by diversifying local industries.
We need to help our businesses succeed by supporting them, and allowing them easier access to the information that will help them expand and be resilient to changing times.

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What Legislators Can Do to Support Small Businesses

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A Maine legislator has several powerful levers to strengthen small business growth and sustainability.
 

1. Expand Access to Capital

  • Increase funding for state-backed loan programs and microloans.

  • Support grants for startups, rural businesses, and innovation sectors.

  • Encourage partnerships with community banks and credit unions.
     

2. Reduce Regulatory Burdens

  • Streamline licensing and permitting processes.

  • Simplify compliance requirements for very small employers.

  • Review outdated regulations that disproportionately affect small firms.
     

3. Strengthen Workforce Development

  • Invest in vocational training, apprenticeships, and adult education.

  • Support programs that help small businesses recruit and retain workers.

  • Expand childcare and transportation access—two major barriers for Maine’s workforce.
     

4. Improve Infrastructure

  • Expand broadband access, especially in rural areas.

  • Support transportation improvements that help businesses reach customers and suppliers.
     

5. Promote Local Entrepreneurship

  • Fund small business incubators and technical assistance programs.

  • Support tourism and local marketing initiatives that highlight Maine-made products.

  • Encourage youth entrepreneurship and innovation programs.
     

6. Support Affordable Healthcare and Benefits

  • Explore incentives for small employers to offer health coverage.

  • Promote pooled insurance options to reduce costs.

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