Bucksport Bay Area Small Business Resource Guide


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Maine Small Business Development Centers' Bucksport Bay Area Small Business Resource Guide for use by current and prospective business owners in Bucksport Bay, Maine area.

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Bucksport Bay Area Small Business Resource Guide Resources for starting, managing and growing your business


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Whether you are an established small business, an emerging entrepreneur, or thinking of starting a business there are many resources that can help you along the way with starting, maintaining and growing your business - most of them are free or low cost. The Bucksport Bay Area Small Business Resource Guide has been created exclusively for the Bucksport Bay area and will put you in touch with the people and programs that will advise, mentor, educate, inform and assist you with all your small business needs. TABLE OF CONTENTS Connect with a Small Business Expert .………………..3 Training and Workshops ………………………..............6 Marketing and Sales ……………………….....................9 Financing Sources and Information …..……………..11 Regulations, Licensing and Permits ………………….15 Other Resources …………………….………………………..17 FAQs ………………………………………………………………..19 Business Plan Guidelines ………………………………….22 Important Phone Numbers……………………………….26 Didn’t Find What You’re Looking For? …………..…27 2


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Connect with a Small Business Expert Looking for someone to talk to (at no cost) about: • Starting or buying a business • Expansion • Financing • Loan package development • Accounting and recordkeeping • Marketing and sales • Increasing profitability • Cash flow projections • Hiring employees • And more The folks in this group can help you with all that and much more. Just ask them! Eastern Maine Development Corporation (EMDC) 40 Harlow Street Bangor, ME 04401 207-942-6389 bizservices@emdc.org www.emdc.org EMDC provides business financing and counseling including assistance with business plan development leading to expansion and growth. What is the next step for your business? EMDC can connect you with resources including mentoring, training and business planning assistance. 3


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Maine Small Business Development Centers (Maine SBDC at CEI) 210 Main Street, Suite 7 Ellsworth, ME 04605 207-664-2990 Betty Egner, Certified Business Advisor Betty.egner@ceimaine.org www.mainesbdc.org Whether you have an established business or want to start a business, Maine SBDC is the one-stop place for confidential, professional business management assistance at no cost. Experienced, certified business advisors provide consultation in: • business startup and acquisition • business and marketing plans • financial and business analysis • market research • sources of credit and financing • loan packaging • cash flow analysis • accounting and record-keeping • marketing and sales • operations • personnel and more MaineStream Finance (MSF) 262 Harlow Street Bangor, ME 04402 207-973-3509 Matt Lewis m.lewis@penquis.org www.mainestreamfinance.org MaineStream Finance offers free one-on-one business consultation to provide technical assistance to individuals interested in starting a business or expanding an existing small business. The services include: developing business plans, marketing strategies, outreach and advertising, loan preparation, business start-up and more. MSF works with businesses with ten employees or fewer. MSF also provides business technical assistance to help farmers, food producers, and convenience stores expand and grow into the healthy foods markets. Assistance includes: business plans, sales and marketing, loan preparation, start-ups and expansion. 4


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SCORE – Downeast Office 248 State Street Ellsworth, ME 04605 207-667-5800 www.scoredowneastmaine.org SCORE mentors provide free and confidential business counseling and inexpensive or free business workshops on a variety of business topics. Downeast SCORE volunteers are ready to help you start a business, expand your business, or reassess your strategies to meet new challenges. Target Technology Incubator 20 Godfrey Drive Orono, ME 04473 207-866-2406 targetincubator@maine.edu www.targetincubator.umaine.edu The Target Technology Incubator provides a one-stop-shop for everything a scalable innovation-based company needs to achieve its goals. It offers: free, confidential business coaching, workshops and seminars, office space, business planning and mentoring and resource connections. University of Maine Cooperative Extension – Hancock County 63 Boggy Brook Road Ellsworth, Maine 04605-9540 207-667-8212 or 1-800-287-1479 (in Maine) Joyce Fortier, Joyce.fortier@maine.edu or Louis Bassano, Louis.bassano@maine.edu http://extension.umaine.edu/hancock Meet individually and confidentially for free with Small Business Extension Educators to have your specific questions answered. Learn about writing a business plan, marketing, pricing products, services, and more. In addition, through a partnership between University of Maine Cooperative Extension and the Ellsworth Noontime Rotary, aspiring or existing business owners in Hancock County can participate in a facilitated brainstorming session with a team of experienced and knowledgeable local business leaders. The focus group will provide valuable feedback on an issue of importance to the business and help the business owner gain helpful insights and ideas for improving the business. 5


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Training and Workshops There are lots of opportunities to learn about all things small business. You can attend a live workshop or take one of many online workshops. And most of them are free! Eastern Maine Development Corporation (EMDC) 40 Harlow Street Bangor, ME 04401 207-942-6389 events@emdc.org www.emdc.org EMDC presents or sponsors a wide range of workshops at various locations on topics such as marketing, buying and selling a business, cash flow management, business ethics, exploring self-employment and more. Maine Small Business Development Centers (Maine SBDC at CEI) 210 Main St., Suite 7 Ellsworth, ME 04605 207-664-2990 Betty Egner, Certified Business Advisor Betty.egner@ceimaine.org www.mainesbdc.org Maine SBDC offers free or low cost workshops and training on a variety of small business topics such as business startup, business planning, marketing/sales/pricing, government contracting, customer service, cash flow spreadsheets, Quickbooks/taxes and more. Training is presented by SBDC certified business advisors. In addition www.mainesbdc.org has resources, tools, and templates on many small business management topics. 6


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MaineStream Finance (MSF) 262 Harlow Street Bangor, ME 04402 207-974-2476 James Macomber jmacomber@penquis.org www.mainestreamfinance.org MSF offers free, live and online courses. Their programs include: • Incubator Without Walls - An intensive, 7-session class that goes into detail on these and other topics: Is Starting a Business for Me, Business Concept, Legal Structures of Business, Business Plan, Marketing, Credit, Record Keeping, Financials, Cash Flow and more. The program shows you how to write a proper business plan, the key to starting and maintaining your new business. Business 101 is a one hour free workshop that provides an overview of the pros and cons of operating a microenterprise. What is a business plan? Why it is needed and what resources are available for business development assistance? Business 101 is a good way to learn if starting your own business is right for you. The Hatchery is a series of seminars on how to start a business or grow an existing one. The course will help you make a business plan, assemble a team, and figure out the finances, regulations and legal issues. MaineStream Finance offers courses for entrepreneurs in computer literacy, including accounting software, social media strategy, e-commerce, Microsoft Office and more. • • • New Ventures – Down East Region UMA – Bangor Campus 1 University Drive Bangor, ME 04401 207-262-7843 Jane Searles Mary.jane.searles@maine.edu www.newventuresmaine.org New Ventures Maine offers several classes for small businesses: Introduction to SelfEmployment, Business Basics and New Ventures Entrepreneurship Training – a 60-hour course in business planning. That course covers in depth: your customer, competition, marketing, record keeping, taxes, financing, legal aspects, and more. At the end of the class, students will have a completed business plan. 7


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SCORE – Downeast Office 248 State Street Ellsworth, ME 04605 207-667-5800 www.scoredowneastmaine.org The Downeast SCORE chapter conducts a variety of regularly scheduled, low-cost or free educational workshops and roundtable sessions that provide information and techniques necessary for establishing and managing a successful business. SCORE also offers free, online workshops at www.score.org. U.S. Small Business Administration (SBA) www.sba.gov The SBA’s online Learning Center has a wealth of training opportunities for small businesses: online webinars, videos, podcasts and learning tools, checklists and worksheets on a wide range of topics: Finding Capital to Start Your Small Business, Health Care and Small Business, How to Prepare a Loan Package, Employee Recruitment and Retention, Tips for Women Entrepreneurs, Selling Your Business, Finding and Attracting Investors, Cybersecurity for Small Business, Crowdfunding and much more. And it’s all available at no cost 24/7. University of Maine Cooperative Extension – Hancock County 63 Boggy Brook Road Ellsworth, Maine 04605-9540 207-667-8212 cehnk@umext.maine.edu https://extension.umaine.edu/hancock Educational workshops, programs and business management publications are available to Maine people on a variety of business-related topics, such as: marketing, pricing, financial management, Internet marketing, record keeping, and customer service. In addition the program has an extensive online small business library with resources on many small business management topics. 8


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Marketing and Sales Many of the resources listed in the Small Business Experts and Training and Workshops categories offer information, counseling and training events on many marketing topics. Here are some additional resources. Bucksport Bay Area Chamber of Commerce 52 Main St. Bucksport, ME 04416207-469-6818 Leslie Wombacher, Executive Director leslie@bucksportbaychamber.com www.bucksportbaychamber.com The Bucksport Bay Area Chamber of Commerce is a membership-based organization that promotes the interests of the Bucksport Bay region business community through promotional, referral, networking and educational activities and offers special services and discounts. Programs/services the Chamber provides: • Business referrals. Requests for service, products and accommodations come from residents and tourists. Your business benefits when the Chamber makes recommendations. • Promotional, sponsorship and publicity opportunities are available for your business by participating in Chamber events and publications. • Services and discounts such as office and meeting space, Wi-Fi use, copying and fax services and the WIN-WIN program – members can advertise to each other in the Chamber’s E-News. • Promotional exposure thru on-line profile, social media, events calendar, online profile and Visitor’s Guide. 9


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Maine Made America’s Best Program Maine Products Marketing Program 59 State House Station Augusta, ME 04333 207-624-7489 Tammy Knight, Development Program Manager tammy.knight@maine.gov www.mainemade.com The Maine Department of Economic and Community Development’s Maine Made Program builds recognition for hundreds of exceptional Maine made products and their producers. Producers of high quality Maine made products can participate in a number of program features including the Maine Made website, America’s Best product identification labels, kiosk display opportunities and trade show participation. On the Maine Made website, members are entitled to a profile page with website and email links to further promote their products. There is no fee to apply and a very modest cost to participate in the program. New England Made Giftware & Specialty Food Show Giraffe Events, LLC 35 Storer Street Saco, ME 04072 207-781-5756 info@nemadeshows.com www.nemadeshows.com Giraffe Events is the owner and producer of the New England Made Giftware & Specialty Food Shows (NEM), a wholesale, juried show featuring exclusively New England made giftware and specialty food that takes place twice a year – in Portland, ME and Sturbridge, MA. Both shows feature New England-made products including home décor, pottery, apparel, accessories, jewelry, toys and games, candles, books, cards and prints, glassware, bath and body products, furniture, spices, candy, sauces and other specialty food items. There is a fee to participate. 10


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Financing Sources and Information These organizations are alternative sources of financing for small businesses. CEI – Capital for Opportunity and Change 30 Federal Street Brunswick, ME 04011 207-504-5886 www.ceimaine.org CEI offers business financing and technical support for a wide range of small businesses. With flexible business financing, loans, investments, rates and terms, CEI is able to leverage its capital with other sources, primarily banks, at a 1:3 ratio. Financing opportunities include: • • Direct loans to start-up, existing and growing small businesses in Maine and beyond, in amounts ranging from $5,000 to $3,000,000. Venture capital investments in small businesses located in New England and the mid-Atlantic region. Investments range from under $500,000 to over $1 million. Washington-Hancock Community Agency (WHCA) 248 Bucksport Road Ellsworth, ME 04605 207-610-5928 Staci Roberson sroberson@whcacap.org www.whcacap.org WHCA has several loan programs for small businesses: • Economic Development Match loans help small businesses with funding of up to $50,000 for the purchase of equipment, supplies, inventory, leasehold improvements, and working capital. Job Start Loans are up to $10,000 to start or expand a small business. Interest rate is Prime plus 1%, with no loan origination fees. • 11


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Eastern Maine Development Corporation (EMDC) 40 Harlow Street Bangor, ME 04401 207-974-3243 or 800-339-6389 bizservices@emdc.org www.emdc.org EMDC has a wide range of commercial lending products to assist small businesses to start and/or expand. EMDC loan programs: • Microloans: Small businesses who demonstrate the ability to be successful but cannot access bank financing may qualify for a Microloan for start-up, expansion or working capital needs. • Business Loans: EMDC has several secondary loan funds to finance a wide variety of business needs, including equipment, real estate and working capital. Community Advantage 7a: Community Advantage 7a loan program offers a streamlined, two page application process and approval decisions within 5 to 7 days. Community Advantage 7a loans are available for amounts up to $250,000. SBA 504: Are you planning an expansion? Your business can benefit from attractive, fixed rate financing through the SBA 504 debenture program. With 504, you can get long-term, fixed rate financing at a reasonable rate, with typically 10% in. • • Finance Authority of Maine (FAME) 5 Community Drive P.O. Box 949 Augusta, ME 04332-0949 207-623-3263 or 1-800-228-3734 business@famemaine.com www.famemaine.com The focus of the Business Division at FAME is to help businesses access capital to grow, expand and succeed; thus, creating new employment opportunities that will benefit the people and communities of Maine. FAME offers a variety of financial programs from traditional loan insurance to direct loans to small businesses. 12


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Libra Future Fund (LFF) PO Box 17516 Portland, ME 04112 207-879-6280 www.librafoundation.org/libra-future-fund The Libra Future Fund awards grants to young entrepreneurs in Maine between the ages of 18-29 who reside in Maine at least 8 months of the year. Grant awards are typically $5,000 or less. The types of projects for which LFF awards grants are typically entrepreneurial in nature, but the Board will entertain ideas for research and economic development projects. All projects must demonstrate the potential to contribute to Maine's economic growth. Maine Technology Institute (MTI) 8 Venture Ave. Brunswick Landing Brunswick, ME 04011 207-582-4790 www.mainetechnology.org The Maine Technology Institute (MTI) is an industry-led, publicly-funded, nonprofit corporation that offers early-stage capital and commercialization assistance in the form of competitive grants, loans and equity investment for the research, development and application of technologies that create new products, processes and services, generating high-quality jobs across Maine. MaineStream Finance (MSF) 262 Harlow Street Bangor, ME 04402 207-973-3509 Matt Lewis m.lewis@penquis.org www.mainestreamfinance.org MaineStream Finance, a Community Development Financial Institution and subsidiary of Penquis, is a non-profit organization dedicated to economic development by providing credit, capital and financial services that are often unavailable from traditional financial institutions. MSF has several loan programs available to small businesses: • Micro loans of up to $50,000 for small businesses to purchase inventory, equipment, computers and real estate, upgrade existing equipment and building renovations and improvements. • Healthy Foods Options designed for rural microbusinesses involved in the growing, production and distribution of healthy foods to assist microbusiness owners that want to expand into new food markets. Loans may be used for a variety of purposes that improve and/or increase the capacity to produce and market healthy food products. 13


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• Power Up Program provides affordable and accessible financing for entrepreneurs (with 10 or fewer employees) seeking to purchase technologyrelated equipment and software. U.S. Small Business Administration (SBA) 202 Harlow Street Bangor, ME 04401 207-945-2021 James Pineau, Senior Area Manager james.pineau@sba.gov https://www.sba.gov/me The Maine District SBA office is responsible for the statewide delivery of SBA’s programs which include financial assistance for new and existing businesses through guaranteed loans made by banks and non-bank lenders. The SBA district office can help guide you towards small business-friendly banks. It does not provide direct loans; your lender will submit your loan package to SBA for approval. 14


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Regulations, Licensing and Permits Where do you start when you need information about permits, licensing, regulations, zoning, etc.? Start with the town hall where your business is located, then contact Business Answers. Here are some resources that can help you. Business Answers Maine Department of Economic and Community Development (DECD) 59 State House Station Augusta, ME 04333 1-800-872-3838 (in state) 1-800-541-5872 (out of state) business.answers@maine.gov www.maine.gov/businessanswers Business Answers, a program of the Maine Department of Economic and Community Development, assists new and existing businesses with start-up and expansion. Through their One-Stop Business Licensing Center, they offer information on all of the state licenses your business is required to have. In conjunction with the online service, they also operate a toll-free 800-line which you can call and get answers to all of your questions, including: • Starting and operating a business • State licensing, permits and regulation requirements • Your business name • Becoming an employer • Being self-employed If they don’t know the answer to your business question, they will refer you to someone who does. Governor’s Account Executives are available to help with problems and concerns which arise as you work with other State agencies. Local Town Clerks, Code Enforcement Officers or Planning Boards Check with your local town clerk, code enforcement officer or planning board for any requirements from the town in which your business is located. 15



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