As we begin 2025, staying informed about compliance updates for small businesses is more important than ever. These regulatory changes can significantly impact your operations, and understanding them is key to staying compliant and prepared. During a recent Maine SBDC webinar, Certified Business Advisors Peter Harriman, Ali Lane, and Dan Umphrey shared insights about key… Read more »
Posts Categorized: Small Business Information
Choosing the Right Business Name
Part 7 of the “Things we wish we knew” blog series By: Tina Oddleifson, Business Advisor Your business name can be a cornerstone of a successful and memorable brand, or it can lead to unforeseen complications. For some clients, choosing the wrong name has resulted in administrative hassles, marketing missteps, and even cease-and-desist orders. To… Read more »
Cybersecurity Basics for Small Businesses
Part 6 of the “Things we wish we knew” Blog series By: Tina Oddleifson, Business Advisor Most small business owners don’t spend time worrying about cybersecurity attacks. Who would want to pick on your small business anyway, right? Wrong! As business advisors in Maine, we have heard many stories from our clients about attempts and… Read more »
Things to Know Before Signing a Lease
Part 5 of the “Things we wish we knew” Blog series By: Tina Oddleifson, Business Advisor You’ve got a business idea that you’ve been thinking about for a while and suddenly you see the perfect location. You’re convinced your business will not work anywhere other than in that adorable shop on the corner of… Read more »
How to Reach Your Customers
Part 4 of the “Things we wish we knew” Blog series By: Tina Oddleifson, Business Advisor “If you market to everyone, you’ll market to no one” – Famous Marketing Guru As business advisors, we review a lot of business plans. One thing we see regularly are marketing plans with vague references to social media… Read more »
Create realistic financial projections
Part 3 of the “Things we wish we knew” Blog series By: Tina Oddleifson, Business Advisor We get it, you’re an artist, a baker, or love working on cars. You’ve decided to start a business doing what you love, and you plan to let someone else worry about the financial details later. But when… Read more »
How Much Capital Do You Need to Start a Business?
Part 2 of the “Things we wish we knew” Blog series By: Tina Oddleifson, Business Advisor Being a successful entrepreneur means understanding how much capital you need to start a business so that you have room to grow. Not having enough capital can be a major pitfall for a new business owner, making it the… Read more »
New Federal Reporting Requirements for LLCs and Corporations
If you have an LLC, corporation, or other entity registered through the Maine Secretary of State, you’ll want to know about your obligations under the federal Corporate Transparency Act. On January 1, 2024 the Corporate Transparency Act went into effect requiring millions of small businesses to register with the US Treasury’s Financial Crimes and Enforcement… Read more »
Essential Steps Before You Start a Business
Part 1 of the “Things we wish we knew” Blog series By: Tina Oddleifson, Business Advisor When we asked Maine SBDC Business Advisors about the biggest mistakes they see new business owners make (including themselves) many of the responses boiled down to the same essential thing: Moving forward before you are ready. We’ve all been… Read more »
Things we wish we knew – Blog series
Sometimes clients reach out to the SBDC after they realize they made a mistake while starting or running their business. As advisors and former business owners ourselves, we know the feeling. Owning a business means having to learn a lot on the fly, and sometimes you don’t get it right. But you’re not alone because… Read more »