Maryland Business Startup Guides
Opening a Business in Baltimore, Maryland
Contemplating starting a business in Baltimore, Maryland? We walk you through the process of opening a business in Baltimore.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read Finding Your Niche in Life.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Mufflers & Exhaust Systems Retail Business guide or our Opening a Sports Medicine Physicians & Surgeons Business guide.
Don't forget that starting a business in Baltimore has some implications. Some businesses will do better in Baltimore than others. Don't forget to review Baltimore demographics to see if there's a market for what you want to sell.
Baltimore, Maryland Demographic Information
Baltimore has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Baltimore demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Baltimore.
As a new Baltimore entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Baltimore 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.
The Role of the Business Plan
A business plan is vital in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Mistakes. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in Maryland.
Raising Money for Your New Venture
Raising money to fund your new Baltimore business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Line of Credit.
Mastering the art of selling is a must if you want your new Baltimore business to do well.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
Increase Your Entrepreneurial Knowledge
Successful entrepreneurs recognize that they don't know everything.
Given that you are starting a business in Baltimore, Maryland, you should check out some of the many programs available at nearby Maryland universities, colleges and community colleges. You should also check if there are any networking organizations for Baltimore entrepreneurs.
Some Interesting Baltimore Entrepreneurs
Here, we'll keep a running list of interviews we've had with Baltimore entrepreneurs.
Most new Baltimore businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Baltimore businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Baltimore 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 Baltimore, Maryland
Here are more links that we believe will help you be successful in starting a business in Baltimore.
- Resources for Baltimore, Maryland Entrepreneurs - Browse a variety of resources we've collected to assist Baltimore 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.
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