Caroline County Economic Development

Small Business

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[fusion_builder_container admin_label=”Intro” hundred_percent=”yes” equal_height_columns=”no” menu_anchor=”top” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”” video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”” video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”yes” center_content=”no” hover_type=”none” link=”” min_height=”none” hide_on_mobile=”no” class=”” id=”” background_color=”#ffcf4c” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”” border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”0px” padding_bottom=”20px” padding_left=”20px” margin_top=”0px” margin_bottom=”0px” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_title margin_top=”0″ margin_bottom=”0″ hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” size=”5″ content_align=”left” style_type=”none” sep_color=””] we love small business![/fusion_title][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”yes” center_content=”no” hover_type=”none” link=”” min_height=”none” hide_on_mobile=”no” class=”” id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”” border_color=”” border_style=”solid” border_position=”all” padding_top=”0″ padding_right=”0px” padding_bottom=”0″ padding_left=”0px” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_section_separator divider_type=”triangle” divider_position=”left” divider_candy=”bottom” icon=”” icon_color=”” bordersize=”” bordercolor=”” backgroundcolor=”#ffcf4c” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” /][/fusion_builder_column][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”yes” center_content=”no” hover_type=”none” link=”” min_height=”none” hide_on_mobile=”no” class=”” id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”” border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”0px” padding_bottom=”20px” padding_left=”0px” margin_top=”0px” margin_bottom=”0px” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text]

We’re here to help you start and grow a small business in Caroline County, MD.

[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container admin_label=”Business Plan” hundred_percent=”yes” equal_height_columns=”no” menu_anchor=”bus-plan” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”” video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”” video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”yes” center_content=”no” hover_type=”none” link=”” min_height=”none” hide_on_mobile=”no” class=”” id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”” border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”0px” padding_bottom=”20px” padding_left=”0px” margin_top=”0px” margin_bottom=”0px” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_imageframe image_id=”2957″ style_type=”none” stylecolor=”” hover_type=”none” bordersize=”” bordercolor=”” borderradius=”” align=”center” lightbox=”no” gallery_id=”” lightbox_image=”” alt=”” link=”” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]http://www.carolinebusiness.com/wp-content/uploads/2017/10/sm-1.jpg[/fusion_imageframe][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_text]

Developing a Business Plan

Writing your first business plan can feel like an overwhelming task. But it’s actually pretty easy, and we can help! We’ve worked with lots of small businesses in Caroline County, and the ones with business plans are far more likely to be successful.

Having a business plan will help you organize and prioritize your ideas. Most importantly, a business plan is necessary if you plan to apply for financing.

Your plan will include financial projections. If you’re realistic with your projections, you’ll get a good sense of how profitable your new venture will be. In some cases, you may discover that the numbers just don’t seem to work for your business idea. If this happens, don’t be discouraged! It is better to know that now than after you’ve invested a lot of time and money. Take some time to rethink your idea and come up with a different strategy.

The length of your business plan will vary depending on the type of business you’re starting. While there is no one-size-fits-all approach to writing a business plan, we’ve created an outline to help you get started.

[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_2″ layout=”1_3″ last=”no” min_height=”” hover_type=”none” link=”” border_position=”all”][fusion_button link=”http://www.carolinebusiness.com/wp-content/uploads/2018/06/Business-Plan-Outline.pdf” title=”” target=”_self” link_attributes=”” alignment=”center” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”small” stretch=”yes” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”down” animation_speed=”” animation_offset=””]Download a Business Plan Outline[/fusion_button][fusion_text]
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_2″ layout=”1_3″ last=”no” min_height=”” hover_type=”none” link=”” border_position=”all”][fusion_button link=”https://www.sba.gov/sites/default/files/2017-07/Startup Costs Worksheet.pdf” title=”” target=”_self” link_attributes=”” alignment=”center” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”small” stretch=”yes” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”down” animation_speed=”” animation_offset=””]Calculate Your Startup Costs[/fusion_button][fusion_text]
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container admin_label=”Financing” hundred_percent=”yes” equal_height_columns=”no” menu_anchor=”finance” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”” video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”” video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”yes” center_content=”no” hover_type=”none” link=”” min_height=”none” hide_on_mobile=”no” class=”” id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”” border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”0px” padding_bottom=”20px” padding_left=”0px” margin_top=”0px” margin_bottom=”0px” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_separator top=”40″ style=”single” /][fusion_imageframe image_id=”2958″ style_type=”none” stylecolor=”” hover_type=”none” bordersize=”” bordercolor=”” borderradius=”” align=”center” lightbox=”no” gallery_id=”” lightbox_image=”” alt=”” link=”” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]http://www.carolinebusiness.com/wp-content/uploads/2017/10/sm-2.jpg[/fusion_imageframe][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_text]

Financing Your Business

[/fusion_text][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_button link=”/resources-incentives/#sblp” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”small” stretch=”yes” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”down” animation_speed=”” animation_offset=””]Caroline County Small Business Loan Program[/fusion_button][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_text]

Every business needs capital (cash) to get started. We work with small businesses in Caroline County to help them access financing. We can refer you to a variety of lenders, and we even offer our own Caroline County Small Business Loan Program. Before you apply for financing, there are some important things you need to consider:

You will need to put some of your own money into your business.
Any lender is going to want to see that you have “skin in the game.” If you aren’t willing to invest in yourself, why should anyone else?

You will need a business plan.
A lender will want to see that you have thought through all aspects of your business. They will review your financial projections to see if they seem realistic and profitable.

It’s important to have enough capital; don’t apply for too little.
Lack of capital is one of the most common reasons so many small businesses fail within the first year. You need cash on-hand for inventory, marketing, payroll, and emergencies. You don’t want to over-borrow, but you also don’t want to be so cash-strapped that your business can’t function.

Your credit history and character will be considered.
Traditional banks will check your credit report. If you have some rough spots in your credit history, non-traditional lenders may be able to work around them. They will consider your personal situation, how you present yourself and your business plan, and your references.

You may need financing from multiple sources.
Often, a new business needs to secure financing from several sources. A traditional bank is a good place to start. Non-traditional lenders may be able to finance riskier businesses and/or fill financing gaps, such as working capital.

Don’t count on “free money.”
There are almost no cash grants available for starting a small business. You may be eligible for certain incentives, but it’s best to consider these “icing on the cake.” You should be able to finance your new venture without relying on incentives.

We can help you navigate the challenges of financing a small business. Contact us to set up an appointment to discuss.

You can also contact local non-traditional lenders directly:

[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ last=”no” min_height=”” hover_type=”none” link=”” border_position=”all”][fusion_button link=”http://www.marylandcapital.org/services/business-loans” title=”” target=”_blank” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”small” stretch=”yes” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”down” animation_speed=”” animation_offset=””]Maryland Capital Enterprise [/fusion_button][fusion_text]
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ last=”no” min_height=”” hover_type=”none” link=”” border_position=”all”][fusion_button link=”https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs” title=”” target=”_blank” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”small” stretch=”yes” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”down” animation_speed=”” animation_offset=””]Small Business Administration Lenders [/fusion_button][fusion_text]
[/fusion_text][/fusion_builder_column][fusion_builder_column type=”1_3″ layout=”1_3″ last=”yes” min_height=”” hover_type=”none” link=”” border_position=”all”][fusion_button link=”/resources-incentives/#sblp” title=”” target=”_self” link_attributes=”” alignment=”” modal=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” color=”default” button_gradient_top_color=”” button_gradient_bottom_color=”” button_gradient_top_color_hover=”” button_gradient_bottom_color_hover=”” accent_color=”” accent_hover_color=”” type=”” bevel_color=”” border_width=”” size=”small” stretch=”yes” shape=”” icon=”” icon_position=”left” icon_divider=”no” animation_type=”” animation_direction=”down” animation_speed=”” animation_offset=””]Caroline County Small Business Loan Program[/fusion_button][fusion_text]
[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container][fusion_builder_container admin_label=”Training” hundred_percent=”yes” equal_height_columns=”no” menu_anchor=”training” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”” video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”” video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” admin_toggled=”no”][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ spacing=”yes” center_content=”no” hover_type=”none” link=”” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”left top” undefined=”” background_repeat=”no-repeat” border_size=”” border_color=”” border_style=”solid” border_position=”all” padding_top=”20px” padding_right=”0px” padding_bottom=”20px” padding_left=”0px” margin_top=”0px” margin_bottom=”0px” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_separator top=”40″ style=”single” /][fusion_imageframe image_id=”2959″ style_type=”none” stylecolor=”” hover_type=”none” bordersize=”” bordercolor=”” borderradius=”” align=”center” lightbox=”no” gallery_id=”” lightbox_image=”” alt=”” link=”” linktarget=”_self” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]http://www.carolinebusiness.com/wp-content/uploads/2017/10/sm-3.jpg[/fusion_imageframe][fusion_separator style_type=”none” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” sep_color=”” top_margin=”20px” bottom_margin=”20px” border_size=”0″ icon=”” icon_circle=”” icon_circle_color=”” width=”” alignment=”center” /][fusion_text]

Small Business Training

There are many great local and virtual training resources for small business owners. Most are available for free or at a very low cost. Please check back often to see what’s coming up!

Mid-Shore SCORE Local Trainings & Webinars

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Other Services for Small Businesses

We can help small businesses in Caroline County work through virtually any problem you encounter. Contact us or stop by to discuss!

Regulatory Compliance
Our goal is to help make regulatory compliance as painless as possible. We can help you navigate different agencies and save you time!

Site Selection
We can help you find the perfect location for your business, whether you’re looking for something in a downtown or in an industrial park. You can visit our property search page, but don’t be discouraged if you don’t see what you’re looking for. We often know of other properties that are available but unlisted.

Promoting Your Business
It’s not enough to have a great product or service… You have to tell people about it too! Small businesses often struggle with the time, money, and knowledge to successfully market their product or service. We can point you toward some helpful and affordable resources to get you started.

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