Montgomery County is a great place to start and grow a small business!
Review our Business Start-up Guide for links to agencies and resources to get you started. Sections include information on:
- Assessing your potential as an entrepreneur
- Researching your idea and developing a Business Plan
- Selecting your legal business structure
- Registering the name of your business
- Filing Articles of Incorporation with the State of Maryland
- Obtaining a Federal Employer Identification Number (FEIN)
- Researching and obtaining required licenses and permits
Learn more about training opportunities and technical assistance available through the following Small Business Resources:
- U.S. Small Business Administration
- SBA-District Office Resource Guide
- Maryland Small Business Development Center
- SCORE (Service Corp of Retired Executives)
- Rockville Women’s Business Center
- Latino Economic Development Corporation
- Maryland Department of Business and Economic Development
- Montgomery County Business Organizations
- Nonprofit Montgomery
- Nonprofit Village
- Governor’s Office of Minority Affairs
- MDOT – Minority Business Enterprise Program
- Veteran Entrepreneurs
Explore Financing Resources available for small business:
Micro Enterprise Loan Programs
- U.S. Small Business Administration (SBA): a loan guarantee program and other initiatives to encourage financial institutions to lend to small businesses. Check out the Washington Region SBA Resource Guide or visit SBA’s District Office website for a description of the available programs and list of participating financial institutions in the region.
- Montgomery County Small Business Revolving Loan Fund: loans to companies that seek to locate or expand in Montgomery County.
- Maryland Small Business Development Financing Authority (MSBDFA): financing for small businesses that are not able to qualify for financing from private lending institutions or are owned by socially and economically disadvantaged persons.
- Maryland Capital Access Program: small business credit enhancement that enables private lenders to establish a loan loss reserve fund from fees paid by lenders, borrowers, and the State of Maryland.
- Maryland Economic Adjustment Fund (MEAF): loans to assist small business with modernization of manufacturing operations, the development of commercial applications for technology, and exploring and entering new markets.
- TEDCO – Working Capital Loan Fund (WCLF): loans to early stage technology-oriented companies.
- Maryland Linked Deposit Program: loan discounts for certified MBEs.
- Marylandeighborhood BusinessWorks Program: below-market loans to small businesses and nonprofit organizations in designated neighborhood revitalization areas.
Equity Investment Programs
- The Dingman Center Angels: connects regional start-up companies seeking seed and early-stage funding with angel investors.
- Maryland Venture Fund: direct investments in technology and life science companies.
- MSBDFA Equity Participation Investment Program (EPIP): equity investment in socially or economically disadvtanged businesses.
- Small Business Innovation Research (SBIR) Grant Program: a federal program that provides grants for research and development of technology related concepts.
- Crowdfunding: a new mechanism to help companies raise project related donations through social media platforms.
StartRight! Women’s Business Plan Competition: grant funds to the winners of this annual contest.