Starting a Business Takes Passion
And we’re just as passionate about helping along the way. Put our experience to work for you. We’ll do whatever it takes to ensure your business begins with a solid foundation.
Here are a few steps to consider when getting started.
Why Start a Business
Experience tells us that those entrepreneurs that pair passion with expertise are most successful. In other words, build a business around something you really enjoy and know something about.
Test Your Idea
Run your idea by trusted friends, relatives or business acquaintances. Garner insight from objective third parties and understand the industry in which you operate.
Create a Business Plan
A business plan is a must when seeking financing and is every bit as important if financing is not required. The plan outlines your management team, product lines, strategies, target audience, financial milestones and much more. Our Small Business Development Center can provide guidance in assembling the plan, developing pro forma statements and research on various industries.
Register Your Business
Maryland’s Online Business Registration site allows you to research and choose a business structure or legal entity, establish tax accounts, research needed licenses and much more.
Secure Capital and a Business Location
We are well-versed in various local, state and federal financing programs and will be happy to explore sources for the capital you require under rates and terms that meet your needs. We’ll also help find the perfect site to launch your business. As part of our entrepreneurial ecosystem, Wicomico is home to a small business incubator, an entrepreneur center and co-work space. These entry points may allow you to mitigate cost while collaborating with like-minded entrepreneurs.
Open Your Business
Congratulations! Open your doors and recognize that we’re with you every step of the way!
More About Our Entrepreneurial Ecosystem
The founding of Perdue Farms in 1920 yielded not only our region’s largest private sector employer, but spin-offs from the firm and industry over many years have provided numerous jobs and business formations. Agribusiness continues to be an important sector in our local and regional economy.
In similar fashion, K&L Microwave, founded in 1970 as a provider of wireless component products to military and commercial customers, yielded a new cluster of digital communication companies, all started from the ground up by entrepreneurs and all tracing their roots back to the founding of K&L Microwave. The sector remains a vibrant part of our local economy.
Salisbury University’s Growing Entrepreneurship Programs and Competitions
All four schools of Salisbury University are privately endowed by entrepreneurs and the university continues to grow its entrepreneurial initiatives through the Bernstein Business Plan Competition, the Small Business Development Center’s poster competition and Gull Cage. In addition, hundreds of thousands of dollars are invested in winners of the Ratcliff Foundation’s Shore Hatchery program. Click here to learn more about SU’s Entrepreneurial Initiatives.
‘Shark Tank’ Comes to Town
ABC’s “Shark Tank” made its second consecutive appearance at Salisbury University where hundreds of business plans from throughout the region were presented.
The ‘YEA’ Program Debuts
And the Salisbury Area Chamber of Commerce recently began its YEA program, a Young Entrepreneurs Academy that teaches middle and high school students how to operate their own businesses.
Our entrepreneurial ecosystem here is vibrant, growing and collaborative. How may we help you get involved?