Get Connected with the Hagerstown-Washington County EDC
image
 

Local Business Resources

Related Information

If you are CONSIDERING starting a business…

Entering the world of entrepreneurship is a major decision, and the success of a business will depend on thorough planning. Formulating a business plan to guide the execution of your idea is an essential step in moving from a concept to an entity. A plan will give you the tools to help attain grant money or a commercial bank loan—or even attract the interest of potential business partners and suppliers.

Overall, your business plan should answer the following questions:

  • What is the business idea?
  • What specific product or service will be sold?
  • How will the products or service be priced?
  • What did the market research show?
  • Who will be buying the product or service?
  • Who are the largest local competitors?
  • What are the advantages/disadvantages as compared to local competitors?
  • Who will own the company and how will it be legally structured?
  • What skills and workforce will be needed?
  • How will the product or service be marketed and sold to customers?
  • What resources are needed?
  • What is accounted for in the budget?
  • What roles and responsibilities will be designated to launch the business?

FREE assistance in business plan development is available by contacting the Small Business Development Center (SBDC) or the local chapter of SCORE.

The Technical Innovation Center

Another option for high-tech businesses to consider is the business incubator at Hagerstown Community College’s Technical Innovation Center (TIC). The TIC is the largest, most comprehensive technology-based business incubator in Western Maryland. It provides space and other services and amenities to entrepreneurs, start-ups, and existing companies. Their facilities consist of office space, open manufacturing space, conference rooms, and 4,000 square feet of biotech research labs.





Print Page

Helpful Links

Get Connected: