Develop a Business Plan
A business plan serves as a road map for decision-making and helps you remain focused on the core mission and goals of the company. It’s a living, breathing document - something that should be reviewed often and modified as the business grows. Banks and landlords frequently request this document as a means of accessing the viability of a venture. Even if it is not required by an outside entity, every business needs a plan.
Business Plan Resources
- Small Business Development Center (SBDC) - Provides free and low-cost assistance to small businesses and aspiring entrepreneurs through classroom offerings and one-on-one counseling sessions.
- SCORE: Frederick - A local business mentor group made up of volunteer experts that offer real life experience and advice across a range of industries.
- Maryland Women’s Business Center (MWBC) - Works with small businesses to start, sustain, and grow their businesses. Their services include workshops and seminars, online training, and business counseling.
- Reference Solutions - A free resource available through Frederick County Public Libraries that offers detailed records about 12 million U.S. businesses to help guide your market research.
Choose a Business Structure
Selecting the right business structure is important for legal and tax purposes. There are many different options for business format, such as:
- Limited Liability Corporation (LLC)
- Sole Proprietor
- And More
We recommend you discuss the options with both a lawyer and an accountant before deciding on your business structure, as different structures come with different legal liabilities and tax implications.
Starting a Charity / Non-Profit Organization
Visit the Maryland Secretary of State’s Non-Profit Organization page for information.