Sharon Herrick started her jewelry business Illuminated Me to honor the unique elements that define us. Inspired by history and nature, her jewelry is designed to help us feel elevated, empowered and adored. Each piece of jewelry is locally sourced and intricately created by hand. Sharon has collaborations with Anthony Manfredonia, a New York-based luxury fashion brand, and Venn + Maker, an online retail business that features carefully curated handmade goods.Read More
Blog
5 Practical Tips to Prep Your Business for Sale
By: Susan Desgrosseilliers, Business Advisor
Are you are considering selling your business? Perhaps you are ready for retirement or for a change of pace? How can you prepare your business to get the most value out of the sale? It takes a lot longer to sell a business than it does to buy a business.
Here are some practical tips that you can do now that will prove valuable later:
Maine SBDC Releases 2019 Small Business Client Results, Helps Start a New Business Every Three Days
The Maine Small Business Development Centers (Maine SBDC), a statewide program that helps entrepreneurs start and grow their businesses, is pleased to announce its annual results.
2019 ANNUAL REPORT
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In 2019, certified business advisors across Maine provided no cost business advising to over 1,500 entrepreneurs which helped them to:
- Start 133 new businesses
- Save and create 600 jobs
- Access $26.8 million in capital to start or grow their businesses.
Dandelion Catering – Yarmouth, Maine
For ten years, Dandelion Catering has been providing fresh, quality prepared food that celebrates the local resources that Maine and New England have to offer. The business had
experienced a surge in growth due to their focus on top-shelf service and creative, attractive food offerings. Business 
owners Christian and Christine Hayes had big plans to scale up the operation and reached out to Brad Swanson, business advisor at the Maine SBDC at CEI, for guidance.Read More
New Research: Maine SBDC Clients Are More Likely to Succeed
Maine SBDC recently conducted an internal study to analyze the survivability of businesses that started with the assistance of an SBDC business advisor. The study included clients who started their businesses in 2016 and assessed whether these businesses were still in operation after three years.
The study found that more than 72% of Maine SBDC client businesses were still in operation after three years. This is higher than the national average of 61.3% from the U.S. Bureau of Labor Statistics.Read More
Contractor or Employee?
Is
your worker a contractor or employee?
By: Diana Grandoni, Maine SBDC Graduate Assistant
The important differences between these two roles might surprise you.
Specific standards determine if your worker is legally an independent contractor or an employee of your business, and it’s up to the business owner to make sure these relationships are classified correctly.Read More
Hiring & Managing Your First Employees
Hiring and Managing Your First Employees
By: Diana Grandoni, Maine SBDC Graduate Assistant
Making the first new additions to your team is an exciting milestone and a sign that your hard work is paying off! For many small business owners, hiring can also be overwhelming and stressful.
These four tips will help you make the most out of this important process:
1. Identify the role you need to fill.
What made you decide you need to hire a new employee? Outline the specific tasks and responsibilities you need support for and what aspects of the business you envision this person taking on in the future. Develop a clear picture of what skills this person should have to be a good addition to your team. Use this to create a job description which you can share in the job posting and with candidates in interviews. Refer to your budget to determine the pay including the cost of benefits. Offering a competitive wage can make you stand out among job seekers and could land you a more motivated applicant, but payroll shouldn’t be so costly that it leads to financial problems. In other words, don’t pay more than what the job is worth to youRead More
Maine SBDC’s Business Plan Guide
Writing a business plan is an important step in starting or expanding any business. A business plan provides an essential roadmap for your business that outlines goals and provides details on how you plan to achieve these goals. It is also a great tool in communicating your business’ potential to investors and financial institutions.
We’ve developed a step by step guide to help you write your business plan.
Maine SBDC’s Peter Harriman walks you through each section of a business plan. He highlights the important parts and provides helpful tips & tricks. Read More
True North Beauty – Milo, Maine
Heather Lux was disappointed with the skincare products on the market. She wanted a natural, effective, and luxurious product that would help her skin look its best. This is why she created True North Beauty.
True North Beauty is a blossoming skincare and lifestyle brand that utilizes the unique benefits of Chaga, a wild Maine mushroom. Chaga grows on birch trees in cold weather climates and is especially prominent in Northern New England. It is known for its anti-microbial and anti-inflammatory properties and is dense in anti-oxidants. True North utilizes a patent-pending process to extract these diverse properties to create a Chaga Infused Formula™. The formula reduces acne and redness, helps with fine lines, boosts elasticity and collagen, and helps repair sun damage.Read More
Bub ‘n Muthas – Winter Harbor, Maine
Ever since he can remember, John Fuhrman’s “mutha” had a real knack for cooking. In DownEast Maine, her kitchen skills were almost legendary. One day, after tinkering around with spices in the kitchen, “mutha” developed a special blend of spices that needed to be shared. The blend combined a Maine attitude with local ingredients such as organic blueberry powder, maple crystals, and even Raye’s Mustard (the oldest mustard company in America made right here in Maine). Read More