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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 startup business resources and services that can help give you a swift start in the business world.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
These are among the best small businesses to start in Maryland because many of them:
If you want your small business to grow, many of these business ideas are good for attracting potential investors.
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:
These cities are among the best for startups because they’re fast-growing or hubs for some of Maryland’s biggest industries.
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.
Maryland has a large Gross Domestic Product that can support a lot of new business owners. The state’s location, natural resources, and tech-friendly policies help many new businesses thrive. The state also has a large, highly educated workforce with the training and analytical skills many businesses need to succeed.
Many Maryland businesses can grow if their owners research their market, provide quality service, find a good support system, and remain legally compliant.
You can find many good franchising opportunities in Maryland by researching which companies are selling franchises and what their terms are.
In many cases, your strengths, resources, and interests dictate the best business to start in Maryland using e-commerce. From the businesses listed above, you can easily turn fitness training or translation services into lucrative e-commerce businesses.
You can start many businesses we’ve listed above as home-based businesses, including software development, fitness, homemade foods, and translation services.