- 1). Formulate a business plan, which is your first step for starting a small business. Contact the state office of the Small Business Administration and the Maine Small Business Development Center, both of which offer mentoring programs for those new to entrepreneurship. Investigate the mentoring services some local and regional groups also provide.
- 2). Secure financing. Acquire information regarding both the public and private options open to small business owners. Find out more about low-cost loans from the Small Business Administration. Investigate private banks and venture capitalists looking for new business ventures in which to invest.
- 3). Select a business type. Choose from the following legal business registration options in the state of Maine: sole proprietorship, limited partnership, limited liability corporation or corporation.
- 4). Register for taxes. Apply for tax licenses from the State of Maine if you plan to sell goods or have employees.
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