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W W W. M A I N E B I Z . B I Z 21 M AY 1 8 , 2 0 2 6 F O C U S S M A L L B U S I N E S S Higher Efficiency Means Lower Costs Efficiency Maine offers incentives that can reduce your costs now, and over time. Efficiency Maine's Commercial and Industrial Prescriptive Initiatives serve Maine businesses, nonprofits, schools, municipalities, manufacturing and industrial facilities, multifamily buildings, and mixed-use buildings. Eligible solutions include certain heat pumps and biomass technologies for heating, ventilation, and air conditioning; water heating; compressed air system components; refrigeration equipment; lighting retrofits; and more. Learn more about Efficiency Maine's Commercial and Industrial Prescriptive Initiatives at efficiencymaine.com/at-work. Scan the QR code to access the link. The U.S. Small Business Administration defines a small business as one with fewer than 500 employees. By that definition, Maine's business community is largely made up of small businesses, as the stats here illustrate. S O U R C E : U.S. Small Business Administration "2025 Small Business Profile" for Maine BY THE NUMBERS OPENINGS AND CLOSINGS DEMOGRAPHICS Opening and expanding Maine establishments added 56,984 jobs, while closing or contracting businesses lost 49,848 jobs. Net gain: 7,136 jobs Between March 2023 and March 2024, 6,444 establishments opened in Maine and 5,717 closed. Net gain: 727 businesses WOMEN 48.4% of the workforce 42.3% of businesses owned by women VETERANS 5.5% of the workforce 7.5% of businesses owned by veterans HISPANICS 1.8% of the the workforce 1.3% of businesses owned by Hispanics 160,215 small businesses 99.2% of Maine businesses 290,518 small business employees 54.5% of Maine employees

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