Category: Ecosystem builders
The Entrepreneurs' Organization has existed in Baltimore for years but recently took a significant leap forward.
The nonprofit opened a new clubhouse this spring and also plans to almost double the size of its accelerator program, said EO Baltimore President Shannon Roberts. The accelerator program, which gives small businesses guidance on balancing their checkbooks and finding customers, has grown from three participants in 2020 to 14 in 2024. Many early-stage companies have the same difficulties in getting financing or finding customers, so firms in different industries can often learn a lot from each other.
“Most people start a business because they're really good at something, and that usually isn't running a business,” Roberts said.
To make the program more affordable, EO Baltimore is launching a small scholarship this July. The scholarship will pay about $500 of the $2,700 a year membership cost. The EO Baltimore accelerator program is for companies earning $250,000 to $900,000 annually. Full membership is reserved for companies with at least $1 million in annual revenue.
The nonprofit also now has a physical home in Baltimore. EO Baltimore has a 1,700-square-foot clubhouse at 1909 Thames St. to host events and panel discussions. The organization goes beyond just small businesses, with large companies like M&T Bank and law firm Offit Kurman also working with EO Baltimore.
Entrepreneurs' Organization is a national nonprofit with chapters around the world. Roberts, the founder of marketing firm Brand Builders, has seen the impact of that guidance firsthand. She found a therapist who helped her get through a particularly difficult time in her life through a WhatsApp message in an Entrepreneurs' Organization chat group.
“It's all about trust and respect,” Roberts said. “We all are on our own journey, and we admit that being an entrepreneur is hard sometimes.”
