Maine SBDC helped this couple to complete their business plan and access financing to start their new wine business Lorne Wine in Biddeford, Maine.
Posts By: Jennifer Boutin
Maine’s Greatest Entrepreneurial Opportunity
Starting a business from scratch is one of the most rewarding – and difficult – challenges to undertake. Filing for an LLC is easy, but helping the business to grow and develop requires time, effort, and unconditional (and sometimes unrequited) love.
The hurdles are significant: 20% of startups fail in the first year – a rate that jumps to well over 40% by year 4. [1] Top reasons for failure include: No Market Need (42%), Not Enough Cash (29%), Not the Right Team (23%), Product without a Business Model (17%), and Poor Marketing (14%).[2]
But, if you want the coveted title of Entrepreneur, what’s the alternative? How can you reduce these risks and still achieve your goals?
Buy a Business that already exists.
Experience Maine – Cumberland, Maine
Rachel Sagiroglu is passionate about all that Maine has to offer. That is why she decided to start Experience Maine, a new full-service travel concierge and event planning company. Rachel knew that tourism is Maine’s largest industry, but noticed that the corporate meetings and events segment of the industry has only grown by 50,000 business-related… Read more »
New Workplace Violence Prevention Training for Retail Small Businesses
Maine SBDC has partnered with the University of Southern Maine’s Cutler Institute to create a FREE, self-paced online training just for retail and foodservice small businesses! DID YOU KNOW? As an employer, you are legally responsible for safety in the workplace. Workplace violence is the 2nd leading cause of workplace fatalities in the U.S. overall… Read more »
Purple Shed Woodworks LLC – Portland, Maine
After losing their father to cancer in 2016, Renée Ledoux began to question her career choice as an emergency room nurse. Jason Ledoux began to question his career path after spending time working a desk job, quickly realizing pushing papers was not for him. Neither felt passionate about their career paths and wanted more. One… Read more »
Swanson Consulting & Associates – Trenton, ME
Terri Swanson has successfully held several professional roles over her career. In March 2018, she decided it was time to fulfill her dream and utilize her experience in a new way. With a passion for helping people, she started her own Human Resources consulting business, Swanson Consulting & Associates. Terri was in the beginning stages… Read more »
Maine SBDC names Ann McAlhany as 2019 State Star
Bangor, Maine –The Maine SBDC has selected Ann McAlhany as the 2019 State Star. The award, given annually, recognizes a member of the Maine SBDC staff that has shown exemplary performance and a strong commitment to small business success. “Ann is dedicated to the success of her clients and the Maine SBDC program. She is… Read more »
Maine ranked first in business survival rate; Maine SBDC featured on News Center Maine
This is a great piece from News Center Maine featuring the Maine SBDC and our client Surf & Summit Motorcycle. Two great takeaways… Maine ranks best in New England to start a business according to WalletHub! Maine ranked FIRST (#1!!) in the US in business startup survival rates according to the Kauffman Foundation!
Allen Family Stables – Caribou, ME
After one successful business venture, Lauren Allen approached Center Director & Business Advisor Josh Nadeau for a second time with a larger business idea that was close to her heart. Lauren had always dreamed of owning her own horse stable. She had found an existing stable that was not being utilized to its potential and… Read more »
Transcapsule – Gorham, ME
Tobey Tozier recognized a need in the transgender community. Through personal experience, he has found that this market of 1.4 million transgender adults in the U.S. lacks easy ways to document their transitions and track the effects of Hormone Replace Therapy (HRT) over time. Changes are usually tracked through photos, video, audio clips, body measurements… Read more »