If you’re in Maryland, your business could take advantage of a state economy that has the 15th highest Gross Domestic Product in the nation. Maryland is also a top state for technology, which can be a boon to any new business, no matter the industry. But what is the best business to start in Maryland? That has a lot to do with your strengths and passions, but we can walk you through potentially lucrative business ideas that can make you a success. 

Not only can we help you come up with successful business ideas in Maryland, but we can help you start and run your business once you settle on an objective. We have several Maryland startup business resources and services that can help give you a swift start in the business world. 

How We Can Help

Sometimes the structure you choose for your business is just as important as its purpose. Running a new business as a limited liability company (LLC) or corporation is popular among many entrepreneurs. If you don’t know how to start an LLC or corporation, there’s no need to fret. You can use our Maryland LLC or Maryland Corporation Formation Services for the guidance you need to get started in a snap. And if you can’t figure out which business structure is best for you, head over to our webpage that helps you Compare All Business Structures. 

Before we help you decide what business structure works best, let’s look at what type of business you might want to start. Read on for a brief review of good businesses to start in Maryland. 

The Most Profitable Small Business Ideas in Maryland

You can focus your entrepreneurial spirit in a thousand different directions, but which path would bring you the most success? The following are business opportunities that could bring you great success in Maryland. 

Idea #1: Tour Guide Services

The beach, the city life, the culture, the food—it’s no wonder that tourism is Maryland’s fourth-largest industry. With so many visitors coming in and out of this coastal state, you can bring in a lot of revenue with a business that guides tours centered around notable landmarks, activities, and attractions. 

Idea #2: Information Technology

Maryland is a high-tech state, and tech-savvy professionals are in high demand. If you have the background to fix and upgrade others’ technological devices and services, you could make a significant impact in the business world. 

Idea #3: Hospitality and Lodging

Remember when we said that tourism is a top industry in Maryland? Well, tourists in Maryland are likely looking for somewhere to stay during their visits. You can accommodate their needs. Starting a business that provides lodging to out-of-towners can be a simple way to make money off of a residential property you already own. 

Idea #4: Home-Baked Goods and Homemade Snacks

Sometimes all you need to thrive as an entrepreneur are a handful of family recipes and a home kitchen. Under Maryland’s Cottage Food Laws, you can have a home-based business selling non-hazardous food items such as baked goods, whole roasted coffee beans, and hard candies. This business pairs well with Maryland tourism because you can sell these goods at festivals, farmer’s markets, and other public events.

Idea #5: Software Development

Maryland’s tax structure and business resources make it a top-ranking draw for businesses focused on technologically innovative solutions. You can service these high-tech businesses and the public with your software development skills. 

Idea #6: Fitness Training

Many people in Maryland are looking for fitness trainers and aerobics instructors. Opening a fitness training business leaves you with so many options for your brand of training and add-on services. You could train outside, in a rented space, or online. You could also include retail sales in your business, selling items such as water bottles, homemade goods, and apparel.

Idea #7: Translation Services

Being a tourist destination and shipping hub in North America, Maryland can attract a lot of international visitors and business people who don’t speak English. If you are fluent in another language, you have an opportunity to shine in Maryland’s international market. You can start a lucrative venture translating for others in business, legal, and personal settings. 

Idea #8: Commercial Fishing

Maryland seafood is famous in North America. You can take advantage of this natural resource by opening your own commercial fishing business. You can build a strong customer base, providing seafood to restaurants and households. 

Why These Are the Best Small Businesses to Start in Maryland

These are among the best small businesses to start in Maryland because many of them:

• Don’t require a lot of overhead
• Are in high demand
• Take advantage of easily accessible resources in the state

If you want your small business to grow, many of these business ideas are good for attracting potential investors. 

Best Cities in Maryland for Starting a Business

It’s important to locate your business in an area that can support your business needs and draw customers who want what you’re selling. Some of the best Maryland cities for starting a business include:

• Baltimore
• Frederick 
• Salisbury

These cities are among the best for startups because they’re fast-growing or hubs for some of Maryland’s biggest industries. 

Form Your Business with Us

We are here to help keep your business operations smooth from start to finish. We can file important business paperwork for you and help you set up your venture in minutes. We also offer great customer support throughout the life of your business. And to keep your business alive, you need to keep it legally compliant. We stay on top of your business compliance needs with our Worry-Free Compliance Service. Our goal is to help entrepreneurs just like you thrive. 

Disclaimer: The content on this page is for informational purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.