Six commercial enterprises in Annapolis were recognized as some of the fastest-growing businesses in the country last year. Offering a range of products from professional services to board games, business is thriving in the city, with one company reporting growth of over 20% in one year. Through various organizations and institutions, the city offers expertise, backing and networking opportunities, so, with a good initial business idea, there is plenty of practical support to help get started and grow a successful enterprise.Raising Funds For Your Business
For anyone just starting out in business, raising money to back an idea can seem overwhelming. Financial tools help new ventures learn more about building up a company from scratch, and enable them to make better financial decisions moving forward. In Maryland, all small businesses can get their venture off the ground by applying for financial assistance from the Small Business Administration (SBA), which has 68 District Offices throughout the state. In addition, the SBA continues to support any established businesses that have struggled over the past year by offering low-interest federal disaster loans
Local Organizations Share Expertise
Whether a business is just starting out or is an established company, there is always room to improve and grow. As well as providing financial assistance, the SBA offers other business resources, such as mentoring schemes and online learning programs. It is also partnered with several other organizations based in Annapolis that provide tailored support, not only to small enterprises, but also more specifically for women in business and veterans looking to start their own company. Tech startups can also get a better idea of their product’s commercial potential with advice and expertise from a Ventures Program offered by the University of Maryland.
Opportunities To Strengthen Connections
Whether a business is just starting out or is an established company, there is always room to improve and grow. Attending networking events is a great way to meet like-minded people, discover new clients, and find potential employees. As a member of the Annapolis and Anne Arundel County Chamber of Commerce, entrepreneurs and business owners can stay connected and informed by taking part in events, meetings and programs that are held regularly throughout the year.
Setting up a business can be daunting. However, with so much support offered in Annapolis, it’s much easier for a new or established venture to thrive.
