Start a Business
If you’ve recently started a new business or you’re considering starting a new business in Frederick County, the Frederick County Office of Economic Development and a network of resources are available to assist you in the start-up process. Located at ROOT, a one-stop business and technology cultivation center in the heart of Downtown Frederick, FCOED has the resources to transform your ideas into action.
Start-up business resources to consider:
- Frederick County Small Business Development Center
- Maryland Women’s Business Center
- Maryland Business Express-Central Business Licensing and Registration
- Maryland Occupational and Professional Licensing
- Frederick County Department of Permits and Inspections
- Frederick County Courthouse Clerk of the Circuit Court – traders licenses
- Comptroller of Maryland
- Frederick Innovative Technology Center
Frederick County Road Map for Business – 10 Steps to Success
The Road Map was created to provide general guidance in the start-up process and is not intended to be relied upon as legal or accounting advice. Download a Road Map For Business Brochure
- Develop a Business Plan: If you don’t know where you’re going, how will you get there? The Business Plan is your single most important document. Spend the time to do it properly. Key components are: Executive Summary, Products & Services, The Market, The Competition, Operations, The Management Team, Personnel, Financial Data, Supporting Documentation and Future Plans.
- Choose a Business Structure: Decide what form of business entity you want to establish and consider the financial implications of each. The four most common forms are: sole proprietorship, partnership, corporation and limited liability company.
- Consider Financing Options: Research financing options and incentives to decide which is right for your business.
- Register Your Business Name and Establish Tax Accounts: Before registering a business, it is a good idea to contact an insurance agent, an attorney and an accountant for advice.
- Get a Federal Employer Tax Identification Number (EIN): A federal tax identification number acts as a social security number for business and is required for all legal entities.
- Obtain Business Licenses by Business Type: A State of Maryland business license is required for most businesses, including retailers and wholesalers. A trader’s license is required for buying and re-selling.
- Explore Options for a Business Location: Finding the right property is critical. FCOED can provide reports of available properties, resources for business incubation and shared office space options.
- Obtain Proper County and Local Permitting and Zoning Approvals: Verify that the location will be acceptable for your business. Find out about additional permits needed depending on the scope of your project.
- Prepare for Employees: Find out about worker’s compensation, wage and hiring practices and taxes. Receive assistance with hiring and training, Remember to look into insurance requirements that may apply to your business.
- Next Stop – Success: There are other resources to consider as you open your business such as banking, marketing and sales. To discuss your project further, please call FCOED at 301-600-1058.