Resources

As a small business owner, your personal credit and handling of checking accounts and loans affects your ability to borrow for the business and your terms with vendors. Know what is on your personal credit report by ordering a free credit report through Annual Credit Report.

Explore opportunities to connect within networks in your industry, local chambers and workshops. The State of Maine also offers a great “Business Answers Program” to aid you in feeling connected to resources during your business journey.

An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Generally, businesses need an EIN. It is helpful to establish an EIN prior to starting a business bank account.

Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your assets and liabilities, prepare your tax returns, and support items reported on you tax returns.

Maintain, update and revise your business plan on a routine basis. As operations, procedures, goals and SWOT (Strengths, Weaknesses, Opportunities, Threats) change, refer to and adjust your business plan.

General licenses to operate a business are managed at the town/city level in Maine. Federally regulated industries will have additional requirements.

You may be responsible for Sales Tax, Self-Employment Tax, Excise Tax, Income Tax and more. It is recommended you consult a tax representative or accountant in the early stages of starting your business. Here is a helpful video on small business taxes to get you started.

Working together with local governments to create solutions for companies and communities.

Assistance in accessing financing for business growth and retention through in-house loan pools and other resources.

Technical assistance and referrals for tailoring training and workforce training and workforce development programs to meet businesses’ needs.

Technical assistance and referrals for tailoring training and workforce training and workforce development programs to meet businesses’ needs.

Technical assistance and referrals for new and existing business through our Business Development Center in South Paris.