Contemplating starting a business in Towson, Maryland? We walk you through the process of opening a business in Towson.
Do You Have Entrepreneurial Drive and Passion?
Most startup companies do not succeed, in part because the business owner did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Speak with other entrepreneurs in Towson. Get their candid feedback on what it takes to start a successful business.
- You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
- Involve a spouse, family member or trusted friend in the decision. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Towson, Maryland Demographic Information
Towson has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Towson demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Towson.
| Business Size | # of
Businesses |
| 1-4 Employees |
3937 |
| 5-9 Employees |
1509 |
| 10-19 Employees |
1041 |
| 20-49 Employees |
738 |
| 50-99 Employees |
336 |
| 100-249 Employees |
144 |
| 250-499 Employees |
30 |
| 500-999 Employees |
6 |
| 1000+ Employees |
18 |
| All Towson Businesses |
7759 |
As a new Towson entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Towson for each business category. By looking at this chart, you can get
a general sense for how much competition there is in the business niche that
you are pursuing.
| Business Type |
# of
Businesses |
| Advertising Agencies |
12 |
| Ambulance Services |
2 |
| Appliance Repair and Maintenance |
2 |
| Architectural Services |
11 |
| Art Dealers |
1 |
|
Automobile Driving Schools |
1 |
| Automotive Glass Replacement Shops |
2 |
| Automotive Parts and Accessories Stores |
3 |
| Barber Shops |
2 |
| Beauty Salons |
26 |
| Beer, Wine, and Liquor Stores |
6 |
| Book Publishers |
4 |
| Book Stores |
6 |
|
Books Printing |
1 |
| Bowling Centers |
2 |
| Building Inspection Services |
2 |
| Business Associations |
8 |
| Cable and Other Program Distribution |
4 |
| Cafeterias |
1 |
| Camera and Photographic Supplies Stores |
3 |
| Car Washes |
4 |
|
Carpet and Upholstery Cleaning Services |
1 |
| Caterers |
3 |
| Child and Youth Services |
1 |
| Child Day Care Services |
12 |
| Children's and Infants' Clothing Stores |
8 |
| Civic and Social Organizations |
9 |
| Claims Adjusting |
7 |
| Clothing Accessories Stores |
11 |
|
Coin-Operated Laundries and Drycleaners |
1 |
| Collection Agencies |
7 |
| Commercial Lithographic Printing |
3 |
| Commodity Contracts Brokerage |
1 |
| Community Food Services |
1 |
| Computer and Software Stores |
5 |
| Computer Systems Design Services |
17 |
| Confectionery and Nut Stores |
4 |
|
Consumer Lending |
1 |
| Continuing Care Retirement Communities |
3 |
| Convenience Stores |
4 |
| Convention and Visitors Bureaus |
1 |
| Cosmetology and Barber Schools |
1 |
| Court Reporting and Stenotype Services |
2 |
| Credit Unions |
3 |
| Custom Computer Programming Services |
10 |
|
Dental Laboratories |
1 |
| Diagnostic Imaging Centers |
10 |
| Diet and Weight Reducing Centers |
1 |
| Digital Printing |
1 |
| Direct Life Insurance Carriers |
11 |
| Direct Mail Advertising |
1 |
| Direct Title Insurance Carriers |
2 |
| Directory and Mailing List Publishers |
1 |
|
Discount Department Stores |
2 |
| Display Advertising |
2 |
| Document Preparation Services |
1 |
| Drinking Places (Alcoholic Beverages) |
7 |
| Educational Support Services |
5 |
| Electrical Contractors |
3 |
| Electronic Shopping |
3 |
| Elementary and Secondary Schools |
2 |
|
Emergency and Other Relief Services |
1 |
| Employment Placement Agencies |
10 |
| Engineering Services |
27 |
| Environmental Consulting Services |
2 |
| Exam Preparation and Tutoring |
7 |
| Exterminating and Pest Control Services |
1 |
| Facilities Support Services |
4 |
| Family Clothing Stores |
23 |
|
Farm Supplies Merchant Wholesalers |
1 |
| Fine Arts Schools |
2 |
| Finish Carpentry Contractors |
3 |
| Fish and Seafood Merchant Wholesalers |
1 |
| Fitness and Recreational Sports Centers |
17 |
| Floor Covering Stores |
3 |
| Florists |
2 |
| Food (Health) Supplement Stores |
6 |
|
Food Service Contractors |
8 |
| Formal Wear and Costume Rental |
1 |
| Freight Transportation Arrangement |
4 |
| Full-Service Restaurants |
40 |
| Funeral Homes and Funeral Services |
3 |
| Furniture Merchant Wholesalers |
1 |
| Furniture Stores |
16 |
| General Automotive Repair |
19 |
|
General Medical and Surgical Hospitals |
2 |
| General Rental Centers |
1 |
| Gift, Novelty, and Souvenir Stores |
16 |
| Glass and Glazing Contractors |
1 |
| Grantmaking Foundations |
10 |
| Graphic Design Services |
10 |
| Hardware Manufacturing |
1 |
| Hardware Stores |
3 |
|
Historical Sites |
1 |
| HMO Medical Centers |
1 |
| Hobby, Toy, and Game Stores |
5 |
| Home Furnishing Merchant Wholesalers |
2 |
| Home Health Care Services |
9 |
| Homes for the Elderly |
5 |
| Human Rights Organizations |
3 |
| Industrial Building Construction |
1 |
|
Industrial Launderers |
2 |
| Insurance Agencies and Brokerages |
85 |
| Interior Design Services |
6 |
| Internet Service Providers |
1 |
| Investigation Services |
2 |
| Investment Advice |
19 |
| Janitorial Services |
8 |
| Jewelry Stores |
17 |
|
Kidney Dialysis Centers |
2 |
| Land Subdivision |
2 |
| Landscape Architectural Services |
1 |
| Landscaping Services |
11 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
65 |
| Luggage and Leather Goods Stores |
1 |
| Marketing Consulting Services |
12 |
|
Masonry Contractors |
3 |
| Meat Markets |
1 |
| Media Buying Agencies |
1 |
| Medical Laboratories |
4 |
| Men's Clothing Stores |
6 |
| Mortgage and Nonmortgage Loan Brokers |
15 |
| Motion Picture and Video Production |
3 |
| Motor Vehicle Towing |
3 |
|
Museums |
1 |
| Musical Groups and Artists |
2 |
| Musical Instrument and Supplies Stores |
1 |
| New Car Dealers |
5 |
| News Syndicates |
1 |
| Newspaper Publishers |
3 |
| Nonresidential Property Managers |
9 |
| Nursing Care Facilities |
20 |
|
Office Administrative Services |
14 |
| Office Equipment Merchant Wholesalers |
3 |
| Office Supplies and Stationery Stores |
2 |
| Offices of Certified Public Accountants |
55 |
| Offices of Chiropractors |
6 |
| Offices of Dentists |
69 |
| Offices of Lawyers |
275 |
| Offices of Optometrists |
6 |
|
Offices of Other Holding Companies |
5 |
| Offices of Podiatrists |
3 |
| Offices of Real Estate Appraisers |
9 |
| One-Hour Photofinishing |
1 |
| Optical Goods Stores |
10 |
| Paint and Wallpaper Stores |
2 |
| Painting and Wall Covering Contractors |
4 |
| Parking Lots and Garages |
5 |
|
Passenger Car Rental |
1 |
| Payroll Services |
3 |
| Periodical Publishers |
3 |
| Pet and Pet Supplies Stores |
2 |
| Pet Care (except Veterinary) Services |
1 |
| Pharmacies and Drug Stores |
12 |
| Photography Studios, Portrait |
2 |
| Political Organizations |
1 |
|
Portfolio Management |
16 |
| Private Mail Centers |
1 |
| Professional Organizations |
2 |
| Public Relations Agencies |
3 |
| Quick Printing |
2 |
| Radio Stations |
5 |
| Real Estate Credit |
21 |
| Recreational Goods Rental |
1 |
|
Recreational Vehicle Dealers |
1 |
| Reinsurance Carriers |
2 |
| Remediation Services |
2 |
| Residential Property Managers |
12 |
| Residential Remodelers |
24 |
| Retail Bakeries |
1 |
| Roofing Contractors |
1 |
| Sales Financing |
6 |
|
Savings Institutions |
2 |
| Securities Brokerage |
18 |
| Security Guards and Patrol Services |
2 |
| Shoe Stores |
18 |
| Site Preparation Contractors |
2 |
| Snack and Nonalcoholic Beverage Bars |
14 |
| Software Publishers |
3 |
| Sound Recording Studios |
2 |
|
Special Needs Transportation |
1 |
| Sporting Goods Stores |
6 |
| Sports and Recreation Instruction |
4 |
| Tax Preparation Services |
3 |
| Taxi Service |
2 |
| Telecommunications Resellers |
3 |
| Telephone Answering Services |
2 |
| Temporary Help Services |
31 |
|
Testing Laboratories |
4 |
| Theater Companies and Dinner Theaters |
2 |
| Tire Dealers |
2 |
| Title Abstract and Settlement Offices |
21 |
| Tobacco Stores |
1 |
| Travel Agencies |
5 |
| Used Car Dealers |
1 |
| Veterinary Services |
10 |
|
Video Tape and Disc Rental |
2 |
| Voluntary Health Organizations |
9 |
| Water Supply and Irrigation Systems |
1 |
| Web Search Portals |
1 |
| Wholesale Trade Agents and Brokers |
13 |
| Window Treatment Stores |
1 |
| Wired Telecommunications Carriers |
8 |
| Women's Clothing Stores |
31 |
|
Wood Container and Pallet Manufacturing |
1 |
Have You Considered Buying an Existing Towson Business?
An excellent way to get started in business is to Buy a Business in Maryland. Follow that link and you may find several good businesses for sale in Towson.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Forming a Company in Towson, Maryland
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Maryland, you don't necessarily have to incorporate in Maryland. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as C Corp Versus S Corp. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Towson, Maryland, our web page covering Incorporating in Maryland may be a useful resource if you decide to incorporate in Maryland.
Marketing Your New Venture
To rise above the crowd in Towson and grow your business, you need a excellent marketing plan.
There are myriad resources on this site to help you with your marketing plan. Comparing Advertising to PR discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Improving Your Entrepreneurial Skillset
Good entrepreneurs recognize that what they know now may not be enough to ensure their future success.
As an entrepreneur who lives in Towson, Maryland, you should investigate some of the many programs available at nearby Maryland universities, colleges and community colleges. You should also check if there are any networking groups or organizations in which Towson entrepreneurs get together to network and trade their business experiences.
Now It's Up To You
Most new Towson businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Towson and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Towson entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Towson, Maryland
Here are more links that we believe will help you be successful in starting a business in Towson.
- Resources for Towson, Maryland Entrepreneurs - Browse a variety of resources we've collected to assist Towson entrepreneurs.
- Maryland Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Maryland.
- Maryland Small Business Development Center - The Maryland Small Business Development Center Network has six regional offices and more than 20 locations where Maryland entrepreneurs can receive comprehensive, resources and relevant assistance.
- Towson, Maryland Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Towson, Maryland newspapers, including ad costs for newspapers serving the Towson area.
- Towson, Maryland Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Towson, Maryland area radio stations.
- Towson, Maryland Payroll Services - This list includes Towson, Maryland payroll services, national payroll services for Towson, and helpful information on choosing a Towson payroll service.
- Towson, Maryland Businesses for Sale - This list includes resources for buying a business in Towson, Maryland, such as business brokers in Towson and other helpful information on how to buy a Towson business.
More Startup Articles for Maryland Cities
Starting a Business in Takoma Park
Starting a Business in Upper Marlboro
Browse All
Business Startup Guides for Maryland
Starting a Business
Guides for Other States
