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, updated as the business environment changes, and that evolves as the business grows.
It’s not just a requirement for bank financing; even if you don’t need a loan, every business needs a plan.
Business Plan Resources
- Maryland Women’s Business Center (MWBC) - Works with women to start, sustain, and grow their businesses. Their services include workshops and seminars, online training, and business counseling. Learn more about the Maryland Women’s Business Center.
- Reference USA - 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. Search for business data.
- SCORE: Frederick - A local business mentor group made up of volunteer experts across a range of industries that offer real life experience and advice. Find a mentor.
- Small Business Development Center (SBDC) - Provides free and low cost assistance to small businesses and aspiring entrepreneurs. Explore classroom offerings or schedule a one-on-one counseling session.
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.